{"id":6711,"date":"2021-08-23T19:26:53","date_gmt":"2021-08-23T19:26:53","guid":{"rendered":"https:\/\/www.africa-press.net\/ethiopia\/?p=6711"},"modified":"2021-08-23T19:26:53","modified_gmt":"2021-08-23T19:26:53","slug":"kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia","title":{"rendered":"KEFI assembles $356M financing package to start gold mining in Ethiopia"},"content":{"rendered":"<p style=\"text-align: justify\">Africa-Press-Ethiopia<\/p>\n<p style=\"text-align: justify\">\u00a0the gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia, announced today that it has now assembled the full funding package of US$356 million estimated to be required for the development of the company\u2019s Tulu Kapi gold project in Ethiopia.<\/p>\n<p style=\"text-align: justify\">In its statement, KEFI said that this package is designed to fund all infrastructure, the start-up of the open pit mine and the initial development of the underground mine.<\/p>\n<p style=\"text-align: justify\">The Tulu Kapi gold project in western Ethiopia is being progressed towards development, following a grant of a Mining Licence in April 2015. KEFI plans to start production in mid-2023.<\/p>\n<p style=\"text-align: justify\">At Tulu Kapi, the company expects gold production of 190,000 oz annually, with all-in sustaining costs of between $800\/oz and $900\/oz. Tulu Kapi&#8217;s ore reserve estimate totals 15.4Mt at 2.1g\/t gold, containing 1.1 Moz. The NPV of KEFI\u2019s beneficial ownership in the two main projects is estimated at \u00a3274 million (US$376 million) or 12.6 pence per KEFI share in issue.<\/p>\n<p style=\"text-align: justify\">KEFI is focused primarily on the advanced Tulu Kapi gold project development project in Ethiopia, along with its pipeline of other projects within the highly prospective Arabian-Nubian Shield. KEFI targets that production at Tulu Kapi generates cash flows for capital repayments, further exploration and expansion as warranted and, when appropriate, dividends to shareholders. KEFI has 70% ownership in the project.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press-Ethiopia \u00a0the gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia, announced today that it has now assembled the full funding package of US$356 million estimated to be required for the development of the company\u2019s Tulu Kapi gold project in Ethiopia. In its statement, KEFI said that this package is [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":6713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[241,441],"class_list":["post-6711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-ethiopia","tag-mining-in-ethiopia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>KEFI assembles $356M financing package to start gold mining in Ethiopia - Ethiopia<\/title>\n<meta name=\"description\" content=\"Africa-Press-Ethiopia\u00a0the gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KEFI assembles $356M financing package to start gold mining in Ethiopia\" \/>\n<meta property=\"og:description\" content=\"Africa-Press-Ethiopia\u00a0the gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia\" \/>\n<meta property=\"og:site_name\" content=\"Ethiopia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-23T19:26:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2021\/08\/Mining-truck.gif\" \/>\n\t<meta property=\"og:image:width\" content=\"464\" \/>\n\t<meta property=\"og:image:height\" content=\"292\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/gif\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"KEFI assembles $356M financing package to start gold mining in Ethiopia\",\"datePublished\":\"2021-08-23T19:26:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia\"},\"wordCount\":234,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ethiopia\/sites\/50\/2021\/08\/Mining-truck.gif\",\"keywords\":[\"Africa-Press Ethiopia\",\"mining in Ethiopia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia\",\"url\":\"https:\/\/www.africa-press.net\/ethiopia\/all-news\/kefi-assembles-356m-financing-package-to-start-gold-mining-in-ethiopia\",\"name\":\"KEFI assembles $356M financing package to start gold mining in Ethiopia - 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