KEFI Minerals plc Consents Received For Tulu Kapi Project Development and Finance

KEFI Minerals

KEFI Minerals plc (LON:KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, has today reported that it has now received the key development and financing policy approvals for the Company’s Tulu Kapi Gold Project from the Ethiopian Government.

Having received Project approval in 2015 (development, social, environmental and operational), KEFI’s Project company Tulu Kapi Gold Mines Share Company Limited has now received Ethiopian central bank approval for the Project banking arrangements, complementing its approvals of proposed balance sheet capital ratios and TKGM’s right to hedge the gold price.

Whilst the remaining required Government consents are important, they are all, in essence, implementation of administrative matters, which include the registration of actual audited historical investment, registration of the updated Project development plan for its latest refinements, approval of the finance-lease structure, finalised Project insurance policies and the various ancillary local permits that can only be granted upon TKGM taking possession of the Project land from all resettled households.

KEFI Minerals plc Managing Director, Mr Harry Anagnostaras-Adams said “The Government has certainly accelerated the pace in recent times as regards the various regulatory processes for this, the first modern mine development in Ethiopia. All major policy matters are now resolved for the Project. There is every sign that the just-appointed Government leadership at the Federal, Oromia Regional and local levels is focused on making this happen very successfully and smoothly. KEFI and its partners in Project Company TKGM are very appreciative of the priority given to the Project at the same time when so many transformational changes are being made in Ethiopia generally. It is an exciting time to be establishing a new sector in Ethiopia.”

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

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

KEFI Gold and Copper raises £7m to advance Tulu Kapi Gold project

KEFI Gold and Copper Plc has successfully raised £7 million to advance its Tulu Kapi Gold Project in Ethiopia, following crucial parliamentary developments.

KEFI Gold and Copper clears key financing hurdle

KEFI Gold and Copper Plc announces a key milestone as Ethiopia ratifies its membership for Africa Finance Corporation, paving the way for Tulu Kapi Gold Project financing.

KEFI Gold and Copper: Ethiopian approval paves way for Tulu Kapi project launch

KEFI Gold and Copper plc advances its Tulu Kapi Gold Project as Ethiopia's Council of Ministers approves Africa Finance Corporation's country membership, paving the way for financing.

KEFI Gold and Copper advances Tulu Kapi with BCM Partnership

KEFI Gold and Copper plc has welcomed BCM Group as a Project syndicate member, enhancing its Tulu Kapi Gold project and securing vital funding commitments.

KEFI Gold and Copper advances Tulu Kapi project launch and financing

KEFI Gold and Copper Plc updates on the Tulu Kapi Project launch, showcasing significant advancements and strong stakeholder support in gold and copper exploration.

KEFI Gold and Copper GMCO wins tender for Al Hajar North Exploration Licence

KEFI Gold and Copper plc's joint venture triumph in Saudi Arabia's Al Hajar North Exploration License highlights its strategic growth in mineral exploration and development.

Search

Search