Kefi confirms Tulu Kapi development to start shortly
Aim-listed Kefi Gold and Copper has confirmed that the civil war in Ethiopia has abated and that the State of Emergency is being lifted, allowing the company to start development of the Tulu Kapi gold mine.
The Kefi-operated Ethiopia joint venture company Tulu Kapi Gold Mines Share Company has been consulting with the country’s Ministry of Mines to ensure there are no further project delays.
The openpit mine will produce about 140 000 oz/y of gold over a seven-year mine life and is expected to be commissioned in 2023.
In the meantime, Kefi continues to review resettlement plans for affected households and complete all outstanding documentation for government entities, following which Kefi will finish preparing the new lands for resettling households.
“All parties are acting in good faith to prepare to implement the project launch. Progress is intended to be quick but will rely on the continued improvement of security and completion of all documentation and other standard confirmations, including insurance, to the satisfaction of authorities, senior lenders and other syndicate members,” Kefi states.
Meanwhile, Kefi is also awaiting the granting of a mining licence for the Jibal Qutman gold project and continues with exploration on the Hawiah project, both in Saudi Arabia.
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