KEFI Gold and Copper report significant progress on Tulu Kapi project US$320 million finance package

KEFI Gold and Copper PLC (LON:KEFI), an early mover and successful explorer in the highly prospective Arabian Nubian Shield, has announced that it has received confirmation of conditional final credit committee approval from the lead lender for its “shovel-ready” Ethiopian development project, the high-grade Tulu Kapi Gold Project.  This followed the analogous approvals from other key syndicate members including lead contractors and lead equity parties, and the previously reported actions by the Government of Ethiopia during 2023.  Key Government actions include the previously negotiated and reported exemptions from foreign exchange restrictions, commitments to provide permanent security protection and the approval of additional protections for the lenders for the Project.

The receipt of these conditional approvals is testament to the collaborative and long-standing supportive attitude of Project syndicate parties.  The entire US$320 million finance package is designed at the subsidiary level, with syndicate members who know the country and are keen to support in our tightly coordinated and safe manner.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
KEFI Gold and Copper

More articles like this

KEFI Gold and Copper

KEFI Gold and Copper Early Works at Tulu Kapi progressing well

KEFI Gold and Copper plc (LON: KEFI), the gold and copper exploration and development company focused on the Arabian-Nubian Shield since 2008, has provided a short operational update encompassing the recent activities with respect to the Company’s

KEFI Gold and Copper

Gold prices reach record highs amid dollar weakness

Gold prices surged on Monday, reaching record highs due to a weakening dollar and expectations that the U.S. Federal Reserve may implement a larger-than-anticipated interest rate cut this week. Spot gold saw a rise of 0.5%,

KEFI Gold and Copper

Gold shines with 23% growth in 2024

Gold has seen a significant rise of 23% since the start of 2024, with its price currently hovering at an all-time high of around €2,260. This surge can be attributed to several factors, including ongoing geopolitical

KEFI Gold and Copper

KEFI is the Early Mover, with Discoveries & Growth Platform

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

KEFI Gold and Copper

Gold price stays firm amid Fed rate cut prospects

Gold’s price (XAU/USD) has remained stable due to multiple supportive factors. Expectations for Federal Reserve rate cuts and escalating tensions in the Middle East have limited the downside for gold prices. Concerns about a potential economic

KEFI Gold and Copper

Latest Developments for KEFI’s Tulu Kapi Gold project

KEFI Gold and Copper, a company focused on gold and copper exploration and development in the Arabian-Nubian Shield, has shared an update on its Tulu Kapi Gold Project in Ethiopia. The company has received preliminary approval

KEFI Gold and Copper

Gold price extends gains amid market anticipation

The price of gold (XAU/USD) continued to rise for the second consecutive session, trading around $2,400 per troy ounce during the European session on Monday. Recent data from the US Personal Consumption Expenditures (PCE) Price Index,

KEFI Gold and Copper

Gold prices expected to rise in the coming weeks

Gold prices are anticipated to advance in the near future, according to a note from TD Securities. Steady central bank purchases and increasing clarity on U.S. interest rate cuts are expected to support the yellow metal.