KEFI Gold and Copper sees greater resource at Jibal Qutman gold project in Saudi Arabia

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.

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