KEFI minerals set to launch its Tulu Kapi gold project in Ethiopia.

Date:

Share post:

KEFI Gold & Copper PLC said Friday that it is now preparing for the launch of its Tulu Kapi gold project in Ethiopia.

The AIM-listed miner said the site remains quiet despite the security situation elsewhere in the country, as the closest conflicts are several hundred kilometers away.

The development of the Tuku Kapi gold mine project is expected to bring in 500 jobs. The gold mine has been estimated to generate over one billion dollars from just initial open-pit operations alone. 

In May 2017, KEFI Minerals and the Ethiopian Ministry of Finance established a share company called Tulu Kapi Gold Mines Share Company Limited in which KEFI owns 75 percent shares while the Ethiopian government owns the remaining 25 percent of the company.

Tulu Kapi is the first modern mine development in Ethiopia for decades.

Addis Insight
Addis Insighthttps://addisinsight.net/
Addis Insight is Ethiopia’s fastest growing digital news platform, providing consumers with the latest news from Ethiopia and its diaspora. We provide marketers with innovative opportunities to leverage our stories and overall brand with a fiercely curious and highly engaged audience.
spot_img

Related articles

Ethiopia’s Ministry of Finance Ends Franco Valuta Import System for Commercial Goods

The Ministry of Finance of the Federal Democratic Republic of Ethiopia has issued a directive announcing the end...

Ethiopia Aims for Cashless Economy with Interoperable QR Code Payment System

Ethiopia’s New Interoperable QR Code Standard Sets the Stage for a Digital Payment RevolutionEthiopia is taking a significant...

Ethiopia’s Banking Sector at Risk: Kaspersky Reports Grandoreiro Trojan Spread

Ethiopia is among the latest countries targeted by the Grandoreiro banking trojan, a significant cyber threat now expanding...

Ethiopia Earns $55 Million from Bitcoin Mining: A Growing Global Player

Ethiopia’s role in the Bitcoin mining industry is on the rise, bringing in a remarkable $55 million over...