KEFI has formally launched the Tulu Kapi gold project in Ethiopia following a decision of the board of its local subsidiary, Tulu Kapi Gold Mines (TKGM), which includes representatives from the Ethiopian Federal and Oromia Regional governments.
The decision to launch the gold project follows the deployment of dedicated site policing and the conditional confirmations that ensued from all members of the project's finance syndicate.
"Our launch timing is fortuitously coinciding with the improved conditions in Ethiopia and all-time high gold prices,” said KEFI's executive chairperson, Harry Anagnostaras-Adams.
“Tulu Kapi's high grade and high process recovery, combined with our project design, has resulted in a robust set of economics for long-term operations, which should support further exploration and development along with good opportunities to continue supporting local social development projects such as the already-provided local school and water supply.”
He said they would proceed to safely complete their early works on schedule and satisfy all conditions precedent to drawdown full project finance, thus enabling the major works to commence from October 2024.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
