Allied Gold (TSX:AAUC) expects its Kurmuk gold mine in Ethiopia to reach commercial production by year-end following the first gold pour at the operation.
The asset represents Allied’s newest producing and lowest-cost mine, with full power infrastructure and the haulage fleet both scheduled for complete mobilisation this month.
Kurmuk is targeting 25,000–35,000 ounces of gold in 2026, with production ramping up to commercial levels by the end of the year and nameplate capacity in early 2027.
Production is forecast at 55,000–65,000 ounces in Q1 2027, 240,000–270,000 ounces for full-year 2027, and about 300,000 ounces in 2028.
The mine is projected to average about 300,000 ounces a year across its first four years and 240,000 ounces annually over the life of mine.
At a group level, consolidated production is forecast at 400,000–435,000 ounces of gold in 2026, rising to 615,000–670,000 ounces in 2027, before targeting 800,000 ounces annually by 2029 via the Sadiola expansion.
Allied expects increasing free cash flow to support growth capital, a stronger balance sheet, and shareholder returns, which include a planned base dividend from 2027 and a normal course issuer bid for up to 10% of the public float.
Allied Gold is a Canada-based emerging senior gold producer operating four mines across Côte d’Ivoire, Mali, and Ethiopia, including the recently commissioned Kurmuk mine.
Write to Paula Fabe at Mining.com.au
Main image: Allied Gold
