KEFI Minerals Says Preparatory Field Activities Resume In Ethiopia

LONDON (Alliance News) - KEFI Minerals PLC on Monday reported the escalation of preparatory field ...

Alliance News 29 October, 2018 | 1:41PM
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LONDON (Alliance News) - KEFI Minerals PLC on Monday reported the escalation of preparatory field activities in relation to its Tulu Kapi gold project in Ethiopia.

Earlier in October, gold & copper miner confirmed that the local, zonal and regional authorities intended to resettle the community of Tulu Kapi in Ethiopia starting in January.

As soon as the wet season ended, the authorities have undertaken the necessary preparatory steps to carry out the planned community resettlement, KEFI Minerals said.

During the past week, the Ethiopian Roads Authority completed a 14 kilometres road route survey for a new road required for the project production phase.

Meanwhile, the Ethiopian Electricity Power Corp completed a 47 kilometres route survey for electricity transmission lines from the regional main line to the site for the Tulu Kapi sub-station.

An inspection of new host lands, being carried out by the West Walega Zonal Administration, while independent consultant Golder Associates completed follow-up base line environmental surveys.

Looking forward, KEFI Minerals said all parties are focused on construction start-up in early 2019 and first production in the first half of 2020.

KEFI Minerals shares were trading 0.9% higher on Monday at 1.66 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
KEFI Minerals PLC 1.50 GBX -3.38 -
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