KEFI Gold and Copper plc (LON:KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield, has reported that the Ethiopian Council of Ministers has formally approved Ethiopian Country Membership for Africa Finance Corporation, which is now with the Ethiopian Parliament for proclamation in legislation.
AFC is one of KEFI’s co-lenders for the Tulu Kapi Gold Project. Country Membership is a critical condition precedent for AFC’s participation in the Project financing alongside Eastern and Southern African Trade and Development Bank (TDB) which already has Ethiopian Country Membership.
Following this positive development, KEFI Gold and Copper will continue with the scheduled Project launch steps, as pre-agreed with the Ethiopian Government and the Project syndicate.
