KEFI Minerals has received confirmation from the Ethiopian Government that it has now resolved the outstanding internal administrative arrangements with respect to its Tulu Kapi Gold Project.

These outstanding government administrative arrangements had held up the closing of the project equity investment past the originally foreseen date of 31 October 2019.

Tulu Kapi one step away from further progress

Following receipt of this confirmation from the Ethiopian Government, the partners of the project subsidiary, Tulu Kapi Gold Mines Share Company, are now in a position to complete and sign final documentation relating to the shareholders’ agreement and trigger subscription procedures for the project equity capital.

Ethiopia: Open for business

The community, contractors and other stakeholders will now also be asked to prepare for the commencement of project development and the site and district security arrangements will continue to be checked and refined with all the authorities.