KEFI Gold and Copper said development planning studies have resumed at the Jibal Qutman gold project in Saudi Arabia following a new regulatory system at the Saudi Arabian Ministry for Industry and Mineral Resources.
Alternative processing options are now viable, which should allow for a greater portion of the ore body to be developed, meaning a greater resource and production profile, it said, adding that gold prices are also considerably higher than the US$1,200 used in 2015 when Kefi lodged its initial mining licence application. The project “may emerge quickly as a larger than previously contemplated development proposition, after some years stuck in regulatory clearances”, said executive chairman Harry Anagnostaras-Adams.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.