KEFI Gold and Copper PLC, a UK-listed exploration and development company, announced it has secured 470 million dollars of the 500 million dollars required to finance its Tulu Kapi Gold Project, approximately 360km west of Addis Abeba. This includes an increased investment of 240 million dollars from international banks. The remaining 30 million dollars, representing 6pc of the total project cost, will be offered to qualified Ethiopian investors. “Formal expressions of interest have already been received and we now move to wrap up in accordance with Ethiopian regulations and practice,” said KEFI Executive Chairman Harry Anagnostaras-Adams in last week’s press release. KEFI further stated that it plans on offering shares to the general Ethiopian public once the Ethiopian Securities Exchange is established. The federal and Oromia Regional State governments have already committed 20 million dollars to the project, slated for full production in 2027.
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