Grand opening of the first mine in Ethiopia in the last 30 years approaches

Kefi Gold and Copper partnered with the Ethiopian government to develop the Tulu Kapi Gold Project. Tulu Kapi is placed in the Oromia Region, approximately 360km west of Addis Ababa. The planned Tulu Kapi operation is an open pit gold mine and processing which will apply standard technology and the latest industry practices.

It is estimated that the ore reserve of Tulu Kapi is ca. of 1.05 million ounces and mineral resources totaling 1.7 million ounces. It is expected that that the planned gold production will be ca of. 140 000 oz/y. The all-in-sustaining cost is calculated at $950/oz.

In April Kefi Gold signed the agreement which informed about the roles of all syndicates, finance conditions, and conditions precedent to final formal approval being granted. The agreement provided a blueprint of development for Tulu Kapi deposit through 2023 which was laid out for the Ethiopian Ministry of Mines.

London-listed company 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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