Executive says game on as security issues resolve at gold mine
According to the company, Tulu
- Advertisement -KEFI Gold recently wrapped a three-day workshop with government agencies to map out the mine project's rollout over the next few months, prioritizing initial actions like community resettlement.
KEFI Gold's Executive Chairman says the company is ready to start construction early next year on its Tulu Kapi gold mine project.
"We'll place orders, and equipment for construction will arrive in January or February," said
As KEFI engages the local community ahead of relocation over the coming months, Anagnostaras-Adams says things will "continue to get even better" as residents see benefits and preparation helps them relax.
"We're ready to start taking our steps forward," the Chairman notes, expressing confidence KEFI can begin construction in the New Year.
While issues with community resettlement delayed the project, KEFI says all outstanding financing conditions requiring Ethiopian government input have now been met. The umbrella funding structure complies with
KEFI has resolved all major conditions precedent with the Ethiopian government to finance its Tulu Kapi gold mine project.
As Anagnostaras-Adams explains, the first major step was for the two banks in the funding syndicate to receive equal legal rights and protections in
According to the Chairman, the second major condition KEFI had to meet was establishing permanent security around Tulu Kapi to ensure construction and operations could proceed unimpeded. This was achieved in
Despite securing financing,
"Security was the only issue left," Anagnostaras-Adams told The Reporter. "There was a misunderstanding with the Ministry, but that's history now. The fundamental question is: does the company want to develop as fast as possible? Of course we do. If we spent
The Chairman says KEFI certainly wants to move ahead rapidly.
"Security forces are being deployed around remote sites. The government has made a large commitment to sort things out and restore calm. We were not being attacked by political rivals or anything like that. But law and order issues were a problem. The road routes are now open," said the Executive Chairman.
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