KEFI Minerals Plc (LON:KEFI), the gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, is pleased to announce that in connection with the Company’s Tulu Kapi gold project in western Ethiopia, the joint committees of the Company and the Ethiopian authorities have now triggered the formalisation of the resettlement arrangements for each of the effected individual households in the area. KEFI will now execute its preparations for community re-settlement, which flow from new Government leadership at several levels since the appointment of the new Ethiopian Prime Minister, Abiye Ahmed.
KEFI Minerals plc is the operator of two advanced gold development projects within the highly prospective Arabian-Nubian Shield, with an attributable 1.93Moz (100% of Tulu Kapi’s 1.72Moz and 40% of Jibal Qutman’s 0.73Moz) gold Mineral Resources (JORC 2012) plus significant resource growth potential. KEFI targets that production at these projects generates cash flows for further exploration and expansion as warranted, recoupment of development costs and, when appropriate, dividends to shareholders.
