KEFI Gold and Copper plc has completed the final loan signing required to start full development of its Tulu Kapi gold project in Ethiopia. The company has now secured binding terms for a US$240 million senior loan facility, removing one of the last major financing hurdles and allowing project execution to move forward. This formal agreement with its banking syndicate follows earlier financing arrangements and clears the way for construction to begin once remaining equity components are closed.
The project has been in preparation for several years, with KEFI structuring its funding through a combination of senior debt and around US$100 million in equity‑risk capital. That portion includes contributions from local investors, subordinated financial instruments and government-related preference shares.
The company has already begun early works, including land access, resettlement, and infrastructure preparation. Construction contractors and engineering partners are in place, ready to accelerate activity as final funding steps are completed.
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.
