KEFI Gold and Copper Plc (LON:KEFI) has reported a number of important outcomes from last week’s Tulu Kapi Gold Project preparation meetings as referenced in the Company’s announcement on 5 September 2023:
- Ethiopian Capital Controls: the National Bank of Ethiopia (“NBE”, the Ethiopian Central Bank) proclaimed and published a new NBE Directive on 8 September 2023 which satisfies the requests made to ensure conformity with the specific Project details. This was one of the final action points remaining to enable completion of the Tulu Kapi Project financing package;
- Other Ethiopian Government confirmations have been received. Formal approval of the updated Environmental and Social Impact Assessment has been received, facilitated by the Ethiopian Ministry of Mines, together with the requested updated completion schedules by the electricity and roads authorities for offsite infrastructure. Only documentation and administrative matters remain; and
- Security to facilitate next steps in the field and to ensure continuing stability is being addressed.
Further announcements will be made in due course as the Company remains on track for Project launch in Q4 2023.
KEFI Gold and Copper plc (LON: KEFI) is an exploration and development company focussed on gold and copper deposits in the highly prospective Arabian-Nubian Shield.
The company is focused primarily on developing the advanced Tulu Kapi Gold Project in Ethiopia. Tulu Kapi has a Probable Ore Reserve of 1.05 million ounces and Mineral Resources totalling 1.7 million ounces.
The company is also actively exploring for gold and copper in Saudi Arabia where drilling during 2019 discovered copper-zinc-gold-silver massive sulphide lodes at Hawiah.
