KEFI positions for a defining lift as Tulu Kapi enters full development

KEFI

KEFI Gold and Copper is preparing to launch full development of its Tulu Kapi gold project in Ethiopia in October 2025. This marks the company’s move from prolonged groundwork into full construction mode, backed by a financing package now close to completion. Around US$340 million has been assembled through a mix of debt and equity, drawing participation from regional partners, contractors, and the Ethiopian government.

At site level, early groundwork has already started. Road access, utilities, and camp installations are being mobilised, while the community resettlement programme, critical in Ethiopia’s regulatory landscape, is progressing through its first stages. This period of tangible progress contrasts sharply with previous years of delay, and investors are beginning to view the timeline as credible rather than aspirational.

The company’s broader portfolio adds depth to this phase. In Saudi Arabia, KEFI continues to build value through its Gold and Minerals joint venture, where the Hawiah and Jibal Qutman projects have both reported upgraded resources and improved economics. This growing pipeline provides not only geographic diversification but also future cash flow potential beyond Ethiopia.

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.

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KEFI Gold and Copper on track to launch Tulu Kapi development in October 2025

KEFI Gold and Copper reported interim results showing strong progress at its Tulu Kapi Gold Project in Ethiopia, with full development scheduled to begin in October 2025.

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KEFI Gold and Copper finalises finance package for Tulu Kapi project development

KEFI has confirmed progress on the US$340m Tulu Kapi Gold Project in Ethiopia, with a US$240m debt facility formally offered and US$100m equity capital being finalised. Project finance approvals are scheduled for September 2025, with full development expected to begin in October 2025.

KEFI Gold and Copper confirms September financial close for Tulu Kapi Gold project

KEFI has completed all early and major works for the Tulu Kapi Gold Project and finalised an updated finance plan. Definitive documentation is now being signed, with full project financial close expected in September 2025, enabling the start of full development backed by a US$240m finance package.

KEFI Gold and Copper AGM: Tulu Kapi ready, Saudi growth pipeline

KEFI is holding its 2025 AGM today at 10.00 a.m. BST in the UK, with updates on Tulu Kapi and Saudi projects.

KEFI Gold and Copper Commence Tulu Kapi Community Resettlement Programme

KEFI have also seen major international gold investment institutions become KEFI shareholders, including Ruffer Gold, Konwave/Gold 2000 and Phoenix Gold Fund

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