Kefi appoints new EPC contractor for Tulu Kapi plant’s construction
JOHANNESBURG (miningweekly.com) – Aim-listed gold development company Kefi Minerals has appointed Australian firm Lycopodium as the preferred engineering, procurement and construction (EPC) contractor to build the process plant for the Tulu Kapi mine, in Ethiopia.
Lycopodium would replace the previously announced preferred EPC contractor Sedgman.
Kefi on Tuesday said Lycopodium’s proposal offered better financial terms and an unchanged timetable, with construction of the plant still on track to start in the fourth quarter of this year.
“The board is always mindful of costs and continues to look for every opportunity to derisk the Tulu Kapi project, while keeping the project on track. We are fortunate that Lycopodium's proposal not only makes the financial terms better but they have committed to adhere to the current timetable.
They have an excellent track record in building gold plants in Africa and their appointment is welcomed by the other syndicate members,” commented Kefi chairperson Harry Anagnostaras-Adams.
Lycopodium was expected to become a shareholder in Kefi, alongside Ausdrill, the mining contractor for Tulu Kapi.
Subject to full legal documentation and completion of the finance syndication, each of the two contractors could gain a less than 10% shareholding in Kefi.
Lycopodium had also given Kefi the option to pay for the first $2.5-million of the plant construction programme of works in Kefi shares.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
