https://www.miningweekly.com

Kefi completes project equity subscription for Tulu Kapi

6th January 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Aim-listed Kefi Minerals has confirmed the signed subscriptions of ANS Mining into the Tulu Kapi Gold Mines Share Company (TKGM) – the project company for the Tulu Kapi gold project, in Ethiopia.

The existing TKGM shareholders – Kefi and the Ethiopian government – have also approved the issue of TKGM shares to ANS Mining.

TKGM will receive the transfer of the first $9.5-million tranche of the ANS Mining funding during this month, following the completion of certain procedural matters.

Kefi executive chairperson Harry Anagnostaras-Adams on Monday said that following first funds this month, the company would begin Phase 1 of the community resettlement, trigger debt implementation and detail the final procurement and contractual arrangements with the principal project contractors.

Kefi has committed to installing into TKGM all the systems and expertise required to develop and operate this first modern mine development in Ethiopia to the highest international standards environmentally, socially and in all other respects, the company stated.

“We will maximise local participation in all aspects of the project and have already built a school, provided local water supply and launched a project to initiate industry-wide training in parallel with the project start-up,” the company said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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