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.
