Ethiopia’s long-delayed Tulu Kapi gold project has reached a major turning point after securing about $340 million in development financing, clearing the way for construction of one of the country’s largest modern gold mines. KEFI Executive Chairman, Harry Anagnostaras-Adams, commented: "We are delighted that the Tulu Kapi debt offering has now been signed by all the relevant parties." "With the gold price at a record high, this is the perfect time to be launching Tulu Kapi." Ethiopia has been working to modernise its mining sector after years of underinvestment, with gold now playing a growing role in export revenues. Tulu Kapi is designed as an open-pit mine with potential underground expansion, allowing production to be extended beyond its initial life.

Source: Ethiopian News December 31, 2025 19:43 UTC