https://www.miningweekly.com

Tulu Kapi cost estimates below global average

1st October 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed Kefi Minerals on Wednesday announced that the total operating costs for its Tulu Kapi gold project, in Ethiopia, had been estimated at $626/oz, with all-in costs being estimated at $844/oz including royalties.

The company said this all-in cost was well below global industry averages.

"We are pleased to report the independent review of our estimated costs for the development and operation of Tulu Kapi. The estimated cash flows and values have been significantly improved,” Kefi chairperson Harry Anagnostaras-Adams commented.

Further, the project’s initial capital expenditure had been estimated at around $130-million, with the working capital required for the start-up of the project estimated at $20-million.

Anagnostaras-Adams noted that the company was now focused on reactivating its Tulu Kapi mining licence application this month, after finalising the independent verification of ore reserves and the agreement of an indicative term sheet for project finance with the preferred banking syndicate.

The company was also currently enlarging and reorganising its team in preparation for starting the development and start-up of Tulu Kapi as well as the next stage of expanding the initial development plan to pursue additional value.

Construction on the project was expected to start in 2015.

Edited by Tracy Hancock
Creamer Media Contributing Editor

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.563 1.602s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: