KEFI Gold and Copper is making significant strides in the Arabian-Nubian Shield, with recent developments in Saudi Arabia and Ethiopia that underscore its commitment to growth and value creation.
In Saudi Arabia, KEFI’s joint venture, Gold and Minerals Company Limited (GMCO), has been awarded the Al Hajar North Exploration Licence, covering 910 km² in the Wadi Shwas Mineral Belt. This area is geologically comparable to the Wadi Bidah Mineral Belt, where GMCO has already made three Volcanic Massive Sulphide (VMS) discoveries: Hawiah, Al Godeyer, and Abu Salal. The Al Hajar North JV, a collaboration between GMCO/ARTAR and Hancock Prospecting Pty Ltd, was selected from 18 multinational groups, highlighting KEFI’s technical expertise and the robust financial backing of its partners.
In Ethiopia, KEFI has been a pioneer in the mining sector, capitalizing on recent economic reforms that have facilitated exploration and development. The company has significantly upgraded the Mineral Resource Estimates for the Hawiah and Jibal Qutman deposits, with combined projects equating to 3.8 million ounces of gold. KEFI plans to commence gold production at these sites, initially focusing on oxide ores through open-pit Carbon-in-Leach (CIL) methods, before expanding to deeper sulphide ores. The strategic partnership with GMCO has been instrumental in penetrating the Saudi market, with KEFI’s 15% shareholding reflecting substantial value creation.
Furthermore, KEFI has been awarded an exploration licence in Ethiopia for critical minerals, including nickel, copper, cobalt, and platinum group metals, based on promising historical results. The company is also advancing the Tulu Kapi Gold Project, one of Africa’s most robust new developments, with planned combined open-pit and underground production nearing 200,000 ounces per annum. Early works commenced in May 2024, with full development pending final regulatory clearances and financing.
KEFI Gold and Copper’s strategic initiatives in Saudi Arabia and Ethiopia position the company as a key player in the region’s mining sector, leveraging partnerships, technical expertise, and favorable regulatory environments to drive growth and investor value.
