Production is expected to commence in mid-2026. Executive Chairman Harry Anagnostaras-Adams addressed investors, detailing the 15-year journey from the project’s initial discovery in Ethiopia to its projected start in 2026. He emphasised that 2024 presents the optimal moment to launch the project due to favourable international and national geopolitical climates and current gold prices.
Harry highlighted the Tulu Kapi project’s potential to produce approximately 200,000 ounces of gold and silver annually. At today’s gold and silver prices, this output could generate a net profit of £100 million per year for KEFI, if production were already underway.
Additionally, KEFI is advancing two other projects in Saudi Arabia. Harry noted that Saudi Arabia is actively developing its mining sector, with KEFI playing a central role in these efforts.
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.
