Kefi pushing for Tulu Kapi construction start
Aim-listed Kefi has restarted development activities at the Tulu Kapi gold project, in Ethiopia, following a suspension in 2021 as a precautionary measure owing to the security situation in the country.
The company has been working with the Ethiopian Ministry of Mines to expedite the Tulu Kapi project, while the civil war has since abated after peaking in December last year.
Mining Weekly previously reported that Kefi’s current activities include preparing new host lands for resettling households, as well as building accommodation for construction personnel.
An appropriate security system is also being installed in preparation for construction and operations.
Additionally, the joint venture partners are undertaking an external independent security assessment of the project site, district and transport routes.
The project’s principal contractors, Lycopodium for plant construction and Corica for mine services, are expected to deliver the final costings for confirmation at the end of April.
The anticipated final capital estimate for the project has not changed from previous guidance and remains fully covered by nonbinding subscriptions from the project’s financing syndicate.
Kefi aims for financial close in mid-2022, subject to the security situation remaining stable.
Everyone is pushing for full project launch after what was a frustrating year last year, the company states.
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