Aim-listed Kefi Gold and Copper has started construction at its Tulu Kapi gold project in Ethiopia, targeting first production in 2027 at a rate of 140,000 oz/y.
The milestone follows over a decade of development since Kefi acquired the project in 2013-14. Ethiopian Prime Minister Abiy Ahmed Ali officiated the groundbreaking ceremony in the village of Genji, where the company is building new housing as part of a resettlement program for local farmers.
Kefi Executive Chairperson Harry Anagnostaras-Adams called the project “Africa’s highest-grade and highest-recovery gold development.”
The openpit operation is expected to produce 1.2 million ounces over a 10-year mine life, with potential for future underground expansion.
In a separate news, Kefi announced it raised £54,000 through the exercise of broker warrants by an existing investor. (Miningweekly)
