The Ethiopian government has granted the key development and financing policy approvals for Aim-listed Kefi Minerals’ Tulu Kapi gold project.
The project had already been granted development, social, environmental and operational approvals in 2015.
It has now received Ethiopian central bank approval for the project banking arrangements.
“The government has certainly accelerated the pace in recent times as regards the various regulatory processes for this, the first modern mine development in Ethiopia. All major policy matters are now resolved for the project.
“There is every sign that the just-appointed government leadership at the Federal, Oromia Regional and local levels is focused on making this happen very successfully and smoothly,” commented Kefi MD Harry Anagnostaras-Adams.
The Tulu Kapi project is expected to produce about 140 000 oz/y of gold over a seven-year period.