KEFI Minerals plc (LON:KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, is pleased to announce that
KEFI and the Government of Ethiopia have triggered the resettlement arrangements for the Tulu Kapi community. Tasks include property survey and data updates plus new lands site preparations.
The objective for the Government of Ethiopia and KEFI is for construction to commence in H2-17. Consultations are at the relevant federal Government ministries, Oromia National Regional State, West Wolega Zone and the Municipalities (Genji Woreda, Kapi Guracho and Bikiltu Ankore).
The Company will be hosting site visits which will start today and end on Friday 28 April 2016. Attendees include shareholders, analysts, financier groups and government representatives, who will receive presentations from the senior management team.
A copy of the summary presentation will be available for download from the company website: www.kefi-minerals.com. No new material financial or trading information will be disclosed during the event.
Commenting on the resettlement, KEFI Minerals plc Executive Chairman, Mr Harry Anagnostaras-Adams, said: “We and the government at all levels, have worked diligently with the local community to ensure that they are supported and compensated appropriately throughout the resettlement process.
“Tulu Kapi is an important project, not just for us but for the district, region and for Ethiopia as a whole. All stakeholders recognise the value-added contribution this project is expected to make, especially to the community and district, including training and long term jobs for over 500 people, a significant local economic multiplier effect and the generation of over US$1 billion of hard currency exports from initial open pit operations alone.
“With this vital step now taken, we look forward to progressing with the final steps ahead before commencing construction.”