JOHANNESBURG (miningweekly.com) – Australia-based Sedgman will start the front-end engineering design stage of the $63-million, 1.5-million- to 1.7-million-tonne-a-year plant at Kefi Minerals’ Tulu Kapi mine, in Ethiopia, during the current quarter.
Kefi announced on Tuesday that it had appointed Sedgman as the preferred plant construction engineering, procurement and construction management contractor for the 105 000-oz-a-year gold operation.
The contract also included a fixed-price lump sum contract for construction, with performance guarantees, with Kefi’s peak funding requirement maintained at $120-million.
The gold exploration and development company’s planned sources of funding also remained unchanged, being a combination of debt and gold streaming finance of $100-million and project-level equity of $20-million from the Ethiopia government.