(Alliance News) - Kefi Gold & Copper PLC on Tuesday said its Tulu Kapi gold project in Ethiopia remains on track for commissioning in late 2027 and full production in 2028, as the company confirmed the formal launch of development and progress on key contracting and financing milestones. Kefi shares were down 4.8% at 1.20 pence in London on Tuesday afternoon. The company said the development finance package for Tulu Kapi now totals USD340 million, comprising USD240 million in debt and USD100 million in equity, alongside USD60 million for the mining fleet funded via a mining services agreement. A further USD30 million of non-dilutive capital has been arranged for contingencies and growth opportunities in Ethiopia and Saudi Arabia. Executive Chair Harry Anagnostaras-Adams said: "Our successful funding of the high-grade and high-recovery Tulu Kapi gold development took many years of intense effort as the first-mover, against a changing, and at times challenging, geopolitical landscape."

Source: Ethiopian News January 06, 2026 16:37 UTC