KEFI Gold and Copper has formally launched the Tulu Kapi gold project in Ethiopia, moving ahead of the field in a country now accelerating efforts to open its mining sector to international investment. Construction is now beginning, backed by a fully formed syndicate of African development banks, government partners and private shareholders.
Community compensation has already started, and site infrastructure is being prepared for full contractor mobilisation by the end of the year. The project is fully funded on the debt side, with bank credit approvals ratified and the debt offer accepted. Equity is being finalised now, with KEFI given a short window to optimise the capital structure. That includes bringing in Ethiopian capital and structuring future equity listings for domestic participation.
Ethiopia is forecast to grow its minerals exports from around $1 billion in 2024 to $4 billion in 2025. The market is shifting quickly, but KEFI has been preparing for years. Tulu Kapi is the first modern gold project in the country to reach this stage. It meets global standards, has secured full regulatory and financial backing, and is positioned as a model for future development.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.
