Aim-listed Kefi Gold and Copper 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 follows the analogous approvals from other key syndicate members, including lead contractors and lead equity parties, and key Ethiopian government actions in 2023, such as the 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 entire $320-million finance package is designed at the subsidiary level, with syndicate members who know the country and are keen to support Kefi in a tightly coordinated and safe manner.
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.
