KEFI edges closer to execution risk as Tulu Kapi debt nears completion

KEFI

KEFI Gold & Copper says it is ready to sign a $240 million debt package for its Tulu Kapi gold project in Ethiopia.

The debt is the core pillar of a broader $340 million capital plan, aimed at bringing Tulu Kapi into production. KEFI confirms that a key procedural snag involving a syndicate lender has now been resolved, unlocking the final step. The company is already drawing on existing facilities and has started phased construction, with all major funding agreements expected to be in place before year end.

Crucially, KEFI has stressed that it has adequate working capital to cover the remaining interim phase. That is essential, given that the full debt package has not yet been drawn. With gold trading near all-time highs, KEFI views this as a window to lock in funding and begin production in a high-margin environment.

KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.

Share on:
Find more news, interviews, share price & company profile here for:

    Emerging Markets Investment Trust: Outlook, key investments and sector focus

    Fidelity Emerging Markets portfolio managers Nick Price and Chris Tennant see improving conditions for emerging markets, supported by a weaker US dollar and signs of recovery in China.

    Nitin Bajaj Fidelity explains investment strategy in China and Indonesia (LON:FAS)

    Nitin Bajaj, portfolio manager of Fidelity Asian Values, sees attractive opportunities emerging in China and Indonesia as market dislocations create value for long-term investors.

    Boku outlines growth strategy and expanding global payment opportunity

    Boku is hosting a Capital Markets Event in London to present its strategy and growth outlook. The company connects major global merchants to over 200 payment methods across 60 countries, serving more than 100 million monthly consumers.

    Norcros delivers strong first-half performance ahead of interim results

    Norcros expects to report first-half revenue of approximately £184 million for the 27 weeks to 5 October 2025, up 1% on a like-for-like constant currency basis.

    Valeura Energy forms Türkiye deep gas joint venture

    Valeura Energy has entered into a joint venture with Transatlantic Petroleum to explore and develop deep gas formations in the Thrace basin, northwest Türkiye.

    Tern Plc raises £151,000 through Open Offer to shareholders

    Tern Plc has successfully raised approximately £151,000 before expenses through its Open Offer, issuing 30.2 million new ordinary shares at 0.50 pence each.

      Search

      Search