Kefi Gold and Copper, an exploration and development company focused on gold and copper deposits confirmed that it is set to restart the development of the Tulu Kapi Gold Project in Ethiopia through its joint venture (JV) subsidiary, Tulu Kapi Gold Mines Share Company (TKGM).
This announcement, comes after the civil war in the East African Country was abated and the State of Emergency lifted. In addition, intensive enforcement activities are being carried out in the areas surrounding the Tulu Kapi project and other mining sites.
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The Tulu Kapi project was halted in 2021 as a precautionary measure due to the security situation. TKGM is consulting with the East African country’s Ministry of Mines to ensure there are no further project delays.
The Tulu Kapi Gold Projects anticipated activities
Activities will involve the preparation of new host sites for relocating residents and housing for construction workers. Kefi mentions that a suitable security system is being constructed for building and operations.
The project’s launch necessitates the completion of various tasks, all of which are currently in progress. To begin, the JV partners will conduct an external independent security evaluation of the project site, district, and transportation routes over the course of many months of continuous project preparatory operations. Given the current position, this is projected to be doable as early as later this month.
There is also the completion of administrative agreements with the government in relation to the Tulu Kapi project financing plans. Furthermore, the financing syndicate remains in place and ready to sign paperwork. Capital requirements have already been accommodated within the syndicate, subject to final construction cost and document execution.
Finally, in terms of development management, the Ethiopia-based planning and permitting team has just been replaced by the development team in preparation for the project launch and the construction of the needed 1,000-strong staff over the following 18 months.
