KEFI Minerals (LON: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, announced today that Mr Harry Anagnostaras-Adams, Managing Director of KEFI and Chairman of the Tulu Kapi Gold Mines Share Company, will today make a Keynote Speech at the African Mining segment of the PDAC mining convention in Toronto.
His presentation, available on the KEFI website, will follow the opening address given by Ato Assefa Kumsa Afeta, the Ethiopian State Minister of Mines, Petroleum and Natural Gas.
The material statements made in the opening address and keynote speech, with regards to the Company’s Tulu Kapi Gold Project, will be as follows:
· The State Minister and Harry Anagnostaras-Adams met with the Ethiopian Prime Minister, Dr Abiy Ahmed, at the end of last week, where he gave his full support and issued the relevant instructions to all relevant Ethiopian Government agencies to forthwith enable commencement of construction of the Tulu Kapi Project.
· The Ethiopian Government announced yesterday, 4 March 2019, that the Federal Council of Ministers had approved an extra budget allocation for this 2018-2019 budget year to cover, inter alia, this budget period’s costs of the construction of roads and electricity connection for the Tulu Kapi Gold Project.
· TKGM is the first new major mining project in decades and is intended to mark the start of a modern Ethiopian mining sector, the regulations for which are being streamlined with a view to rapid growth.
· Ethiopia is already Africa’s highest growth country and the current administration is aggressively looking to build on this by opening up the significant potential of its minerals sector.
· A key feature of the Tulu Kapi Gold Project is its strong community support and its emphasis of maximum local participation through employment, procurement and approximately 50% ownership by Government-sector institutions and private-sector institutions.
· All syndicate members remain on track for the respective contributions to the Project as previously outlined by the Company.