Tulu Kapi gold project, Ethiopia
Name and Location
Tulu Kapi gold project, Ethiopia.
Client
Kefi Minerals.
Project Description
Tulu Kapi has a total resource estimated at 24.1-million tonnes at 2.64g/t of gold, containing 2.05-million ounces.
A scoping level review of the Tulu Kapi project, acquired by Kefi in December 2013, indicates potential for further improvement in the economic performance of the project.
The review has confirmed that the targeted openpit mine production for the project can be increased to 1.2-million ounces a year, as opposed to the company’s preacquisition estimate of 800 000 oz/y.
Value
Capital expenditure is estimated at $143-million.
Duration
The definitive feasibility study (DFS) is planned to be completed in late 2014, with construction scheduled to start in 2015.
Latest Developments
The revised Tulu Kapi mine plan has been developed, which reflects Kefi’s selective mining approach.
This mine plan will be further refined within the scheduled DFS, which will be conducted later this year, following the completion of Kefi’s current drilling and trenching programme.
The mine plan will then be integrated into a refined DFS that will take into account Kefi’s metallurgical testing, engineering, cost verification and economic optimisation.
As Kefi continues to refine the selective mining techniques, it expects to report further improvements during the following months and to reactivate the mining licence application by the end of this year. As a result, the company remains confident of fulfilling its commitment to the Ethiopian government that production will start in 2016.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Kefi Minerals, tel +90 232 381 9431, fax + 90 232 381 9071 or email info@kefi-minerals.com.
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