View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 5, 2019

KEFI and partners to start Tulu Kapi Gold Project development

Exploration and development company KEFI and its partners in Tulu Kapi Gold Mine Share Company (TKGM) have confirmed development work plans for the Tulu Kapi Gold Project starting in October

Exploration and development company KEFI and its partners in Tulu Kapi Gold Mine Share Company (TKGM) have confirmed development work plans for the Tulu Kapi Gold Project starting in October.

The announcement was made at the opening of the Africa Down Under Conference in Perth, Australia.

This confirmation follows the company receiving a scheduled independent security update.

The report found that the company has ‘comprehensive security and crisis management plans’ in place to maintain an acceptable security risk level.

KEFI and TKGM executive chairman Harry Anagnostaras-Adams said: “It is exciting that the Tulu Kapi Gold Mine development is starting and especially pleasing that it is in a joint venture with both the Ethiopian Government and private sectors.

“All parties are completing the last-minute actions for next month’s start of the 24-month development schedule to achieve full production in 2021.

“This will be the first modern mine development in Ethiopia for decades and has taken great determination and collaborative effort by all parties, for which we are most grateful.”

In 2017, KEFI Minerals signed an agreement for $135m funding for development of its Tulu Kapi gold project in Ethiopia.

Under the arrangement, infrastructure will be leased to the project company KEFI’s subsidiary Tulu Kapi Gold Mines (TKM).

Ethiopian Minister for Mines Petroleum and Natural Gas H E Samuel Kurke said: “The Tulu Kapi Gold Project has full support from the Ethiopian Government at all levels because it is a priority for the country and community.”

 

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The mining industry's most comprehensive news and information delivered every month. The mining industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Mining Technology