(Alliance News) - Kefi Gold & Copper PLC on Monday said it will proceed with early work following the launch of the Tulu Kapi project. The Saudi Arabia and Ethiopia-focused exploration and development company owns a 95% stake in the Tulu Kapi gold mines in Ethiopia as of May 13. Following confirmation from TKGM's board, which comprises representatives of both Kefi and the Ethiopian federal and regional government, the project is officially launched. Executive Chair Harry Anagnostaras-Adams said: "Our launch timing is fortuitously coinciding with the improved conditions in Ethiopia and all-time high gold prices. "Tulu Kapi's high grade and high process recovery, combined with our project design, has resulted in a robust set of economics for long-term operations which should support further exploration and development."

Source: Ethiopian News May 20, 2024 13:28 UTC