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Ministry Affirms Extension for Kefi's Gold Mining Exploration

November 6 , 2021

The Ministry of Mines has extended Kefi Mineral's Tulu Kapi gold exploration project kickoff deadline by two months to the end of January 2022. The Ministry had cautioned the company to commence operations by the end of October, however, the company's management claims it was unable to do so due to security concerns. Kefi announced last month that four staff members who were abducted in early September had returned safely. The exploration in Tulu Kepi, 350Km from Addis Abeba, began over a decade ago after Kefi acquired an Australian firm, Nyota Minerals Limited, for 5.2 million pounds sterling (7.2 million dollars at current exchange rates). Kefi is obligated to re-affirm that it has attained the necessary project financing by the end of January.


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