07:25 AM EDT, 08/19/2024 (MT Newswires) -- Allied Gold ( AAUCF ) on Monday said its subsidiary Kurmuk Gold Mine, which owns the Kurmuk Gold Project in Ethiopia, signed a 20-year definitive power purchase agreement (PPA) with Ethiopian Electric Power (EEP) to secure an energy supply for the project.

A steady supply of hydroelectric power is one way that ensures the Kurmuk Gold Project remains a low all-in sustaining cost (AISC) project, the company said.

The Kurmuk Gold Project is currently under development and is expected to begin operations in the second quarter of 2026.