Ethiopia’s Tulu Kapi Gold Mine Gets $135mln FinanceJuly 18, 2017 - KEFI Minerals, London-listed gold and copper deposits exploration and Development Company, has agreed a finance package for the construction of its gold mine project in Ethiopia. The new agreement is expected to augment Ethiopia’s gold production. Gold is Ethiopia's main mineral export and has been mined since ancient times, primarily as alluvial or free gold. KEFI’s Tulu Kapi project in the South western part of Ethiopia has a probable Ore Reserve of 1.0 million ounces and Mineral Resources totaling 1.7 million ounces. Planned gold production at Tulu Kapi is forecast to be circa 115,000 ounces per annum at an AISC of US$777/ounce over the initial eight years of mining the open pit.

Source: Ethiopian News July 17, 2017 22:07 UTC