Kefi Gold confirms launching operation if security concerns addressed

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KEFI Gold and Copper PLC has announced on Monday that it will resume its activities after the security concerns in Wellega Zone, Oromia region is resolved.

Kefi has plans to begin the building of a production facility in Tulu Kepi, Wellega.

In September 2021 a serious safety / security incident occurred in the West Wellega Zone, and specifically in the Tulu Kapi district, affecting the Project, in respect of which all local stakeholders were immediately notified,” said a statement issued by Kefi.

Project Company Tulu Kapi Gold Mines Share Company (TKGM) duly obeyed the instruction of the relevant Ethiopian government authorities to temporarily suspend Project site visits and inspections which had been scheduled for the coming weeks as part of the standard procedures for Project financing and launch, said the company.

The Ministry wrote to Project Company TKGM on 11 October 2021 questioning whether security was an issue impacting the Project and demanding that TKGM respect its obligations under the regulations, according to Kefi Gold.

The Ministry of Mines on the other hand refuted Kefi’s concerns. “There’s no security problem in Tulu Kapi,” Takele Uma, Minister of Mines said last week.

“We remain confident of TKGM’s license tenure in light of any licencee’s obligation to deal with any security situation in accordance with the mining license requirements and normal industry practice. We also greatly appreciate the ongoing support of the Project finance syndicate and have no doubt that TKGM can be developed as a showcase Ethiopian 21st century mine development with the support of all regulators and stakeholders,” Harry Anagnostaras-Adams, Executive Chairman of KEFI said in a statement.





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