https://newsletter.mw.creamermedia.com

Kefi completes early works for Tulu Kapi

Kefi executive chairperson Harry Anagnostaras-Adams

Kefi executive chairperson Harry Anagnostaras-Adams

6th August 2025

By: Sabrina Jardim

Creamer Media Online Writer

     

Font size: - +

After inspections by the relevant independent certifiers, Aim-listed Kefi Gold and Copper has completed the required early works to enable full project development at its Tulu Kapi gold project, in Ethiopia.

As previously reported regarding initial major works, Kefi says initial construction and security camps, property surveys and new host lands for the community were brought forward into the pre-full launch period. 

The company says these, and other site tasks have been certified as being in order.

Moreover, construction cost escalation estimates and schedules have been updated and incorporated into the project finance plan and financial model and are currently undergoing final review and certification for inclusion in the final definitive documentation for signing.

Subject to final approvals, Kefi says the updated finance plan remains consistent with recent guidance presented during the company’s AGM on July 17.

The company says definitive project documentation has been drafted and is in circulation.

Both co-lending banks have now approved the expanded $240-million finance package at credit committee level. One bank has also completed board ratification, while the other is currently in the process of doing so.

The company explains that equity components of the finance plan will be drawn first, followed by debt drawdowns and are being scheduled in line with the project disbursement schedule.

"I extend my sincere thanks to the teams of all stakeholders for their hard work and diligence in preparing the full launch of the Tulu Kapi gold project,” says Kefi executive chairperson Harry Anagnostaras-Adams.

“This transaction marks a first of its kind in Ethiopia – a bespoke syndicate of carefully selected parties operating within a structure designed to effectively manage risk.

“Each syndicate member is a leader in its field, is committing for the long term and is fulfilling its role with exemplary professionalism. I thank them on behalf of Kefi and our shareholders, who I also especially thank for their patience and support for us preparing the project for this exciting moment,” he continues.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Lion Alcoblow ® - High speed breathalyser
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (01/08/2025)
1st August 2025 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.117 0.199s - 143pq - 2rq
Subscribe Now