# KEFI Gold and Copper Tulu Kapi Update

- Link: https://www.directorstalkinterviews.com/kefi-gold-and-copper-tulu-kapi-update/4121030914
- Published: 2021-11-01T07:18:15+00:00
- Author: Giles

KEFI Gold and Copper plc ([LON:KEFI](https://www.directorstalkinterviews.com/company/kefi-gold-and-copper/kefi.l)),
the gold and copper exploration and development company with projects in the Federal
Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, has provided an
update in respect of the licence tenure of the Tulu Kapi Gold project in Ethiopia.
KEFI is pleased to report that, since the safe return to their families on 24 October
2021 of our four abducted employees, as announced on 25 October 2021, we have responded
formally and have also provided detailed briefings to the Ethiopian Ministry of 
Mines (“MoM”) as regards the temporary suspension (by Government security forces)
of site access for Project launch preparations.

In particular regarding the Project schedule, Project company Tulu Kapi Gold Mines
Share Company (“TKGM”) formally advised the MoM of the appropriate adjustments to
the recently MoM-approved Development and Production Work Programme in compliance
with the mining regulations**.  **We greatly appreciate the subsequent understanding
and support of the MoM, as well as that of the other Ethiopian Government agencies,
along with that of the local community and other stakeholders.

TKGM has already proceeded to arrange remobilisation to the Project site and district
of the various teams.  The site-access prohibition will have lasted for approximately
two months and we expect to complete investigations and the required assessments
and reports within the next month.  Accordingly, the Project schedule has lost approximately
three months due to circumstances outside TKGM’s control.  All Tulu Kapi Project
syndicate members appreciate and understand the safety-first approach successfully
adopted by the community, the Ethiopian Government security forces and TKGM’s hostage
recovery teams.

KEFI Gold and Copper has continued to progress legal documentation and other Project
preparations. Accordingly, TKGM has preserved its ability to start Project commissioning
in 2023 and the target is to start launching key Project development activities 
in December 2021.  The Company will report any further material developments and
make further progress reports as appropriate.

Share on: