KEFI has obtained the conditional final credit committee approval for a $320m finance package from the lead lender for its Tulu Kapi Gold project in Western Ethiopia.
This follows similar approvals from other key syndicate members including lead contractors and equity parties, as well as supportive actions by the Ethiopian Government throughout 2023.
The Ethiopian Government has facilitated the project by granting exemptions from foreign exchange restrictions, committing to provide permanent security protection and approving additional lender protections.
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.