KEFI Gold and Copper Tulu Kapi Gold Project Site Preparations Recommence

KEFI Gold and Copper
[shareaholic app="share_buttons" id_name="post_below_content"]

KEFI Gold and Copper plc (LON:KEFI) has reported that following permission from the security authorities site preparations for project launch have recommenced for the Tulu Kapi Gold Project, majority-owned via KEFI subsidiary Tulu Kapi Gold Mines Share Company. This includes district inspections by assessors for the financing syndicate and consultations with the community.

As a prelude to the next stage of community preparations, it is pleasing to report TKGM’s new binding agreement with the Ethiopian Evangelical Church of Mekane Yesus.  EECMY will be one of KEFI’s long-term partners in TKGM and also will support our community projects.  KEFI is greatly honoured to welcome EECMY and we look forward to collaborating with EECMY in overseeing the various community-based programmes in a manner which respects the local rules and regulations, the 21st century international standards for modern gold production such as World Bank IFC Performance Standards and also the highest moral codes of conduct.  Whilst the EECMY investment into TKGM is not playing a major role in the total project finance package, EECMY’s role is significant for TKGM’s social licence.  For instance, the Tulu Kapi community will potentially significantly benefit from EECMY’s micro-finance institution in Ethiopia.

We remain focused on starting mining and plant commissioning in late 2023.  The Project launch schedule is expected to trigger certain community steps in December 2021, with full launch within the following months.  In the meantime, as announced on 4 November 2021, the Ethiopian Ministry of Mines recently confirmed that the mining licence is in good standing to 2035 subject to KEFI’s confirmation of project finance procurement by 31 January 2022, which remains on track.

KEFI Gold and Copper is confident that the security situation at the Project has now been addressed and, whilst it has no direct impact on TKGM’s operations, remains optimistic that the current broader conflicts within the country will be resolved peacefully.  To this end, we note that an African Union-appointed mediator has been accepted by both sides in the political and military national conflict and that he has begun to engage during the past week, notably with the support of the United Nations, European Union and other major world powers.

The Company will report further material developments and make further progress reports as appropriate.

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Twitter
LinkedIn
Facebook
Email
Reddit
Telegram
WhatsApp
Pocket
Find more news, interviews, share price & company profile here for:
KEFI Gold and Copper refines its strategy by exiting a Saudi venture, focusing on core projects to boost growth and shareholder value in the Arabian-Nubian Shield.
KEFI Gold and Copper plc updates on its GMCO joint venture in Saudi Arabia, revealing strategic decisions and potential changes in their stake.
KEFI Gold and Copper plc boosts funding for its Tulu Kapi Gold Project to $240M, highlighting strategic advancements and local engagements in Ethiopia.
KEFI Gold and Copper plc (AIM: KEFI) reveals its unaudited interim results for the six months ending 30 June 2024, highlighting projects in Ethiopia and Saudi Arabia.
KEFI Gold and Copper plc updates on Tulu Kapi Gold Project progress, highlighting early works, construction, financing, and regional development in Ethiopia.

Search

Search