Kefi Gold and Copper updated the market on the Tulu Kapi Gold Project in Ethiopia on Monday, announcing that all outstanding major financing conditions precedent requiring Ethiopian government input had been met. Kefi said the second condition required the establishment of a permanent security force to ensure uninterrupted construction and progress of the Tulu Kapi Gold Project. In April, the relevant government agencies triggered escalated security measures in the areas surrounding Tulu Kapi, successfully meeting the condition. In addition to meeting the financing conditions precedent, the Ethiopian government and its agencies had shown further support for the development of the Tulu Kapi Gold Project through several recent initiatives. “This set of supportive government initiatives clears the way for the launch of Tulu Kapi and reinforces the recent turnaround of the working environment in Ethiopia.

Source: Ethiopian News June 19, 2023 13:28 UTC