KEFI Gold and Copper PLC , a mining exploration and development company, made a statement that they are planning to launch the open-pit Tulu Kapi project in Ethiopia launched by 2023 with production set for the year 2025. The company also will launch Jibal Qutman Gold open-pit in Saudi Arabia in the year 2024 and it will target production by the year 2025 also. Also read: $500 Million Earmarked for a Two-Phase Development Plan for Ethiopian Kurmuk Gold ProjectKEFI Gold and Copper PLC Tulu Kapi Mine FundingKEFI Gold and Copper PLC managed to secure US$320 million and the equity development capital. They have also secured the essential permits needed for the project and a US$70 million mining fleet from the assigned mining contractor has also been acquired. Moreover, the shares in KEFI Gold and Copper PLC dropped slightly more than 6% on Friday having opened to approximately 0.68p.

Source: Ethiopian News September 30, 2023 08:05 UTC