KEFI Minerals’ (LON:KEFI) chairman Harry Adams tells Proactiveinvestors the company has received the news it has been waiting for: the sign-off of the company’s mining licence for its flagship Tulu Kapi gold project in Ethiopia. This means KEFI can now develop the mine, which is slated to produce 86,000 ounces of gold a year.
Development of the mining sector is a major priority for the Ethiopian government, Adams said, as indicated by the intense media interest in the story in Ethiopia. Adams explains that KEFI has significantly reduced the capital required to develop the mine to make it more viable in the low gold price environment. The company expect to “lock down who’s providing the project finance” in the third quarter of this year.
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