News IndustryKefi says it has secured $340 million to develop the Tulu Kapi gold mineThe project targets first production in 2027 after several schedule setbacksAnnual output is expected to reach 164,000 ounces in the early yearsAfter several delays in recent years, mining company Kefi Gold and Copper says it is now well positioned to launch the development of its Tulu Kapi gold project in Ethiopia. Earlier this year, the situation again forced the company to push back the start of production at Tulu Kapi to 2027, from 2026 previously. Kefi executive chairman Harry Anagnostaras-Adams said the company has now secured full financing for the launch of the Tulu Kapi gold project, which it considers one of the highest-grade gold development projects in Africa. He said the company is moving into the development phase in Ethiopia, with first production expected in 2027 and full-capacity output targeted for 2028. Through Tulu Kapi, Kefi Gold and Copper aims to develop a mine capable of producing 164,000 ounces of gold per year over the first seven years of operation.

Source: Ethiopian News December 24, 2025 08:05 UTC