AMN - ETHIOPIA: Tulu Kapi resettlement arrangements

KEFI Minerals and the Government of Ethiopia have triggered community resettlement arrangements at the Tulu Kapi Gold Project. Tasks include property survey and data updates plus new land site preparations.

The objective for the Government of Ethiopia and KEFI is for construction to commence in the second half of this year.

Consultations are at the relevant federal government ministries, Oromia National Regional State, West Wolega Zone and the municipalities of Genji Woreda, Kapi Guracho and Bikiltu Ankore.

The company has hosted site visits at which attendees, including shareholders, analysts, financier groups and government representatives, received presentations from the senior management team. 

No new material financial or trading information was disclosed during these visits.

KEFI’s executive chairman Harry Anagnostaras-Adams said, “KEFI and the government at all levels, have worked diligently with the local community to ensure that they are supported and compensated appropriately throughout the resettlement process.  

“Tulu Kapi is an important project, not just for KEFI but for the district, region and for Ethiopia as a whole. All stakeholders recognise the value-added contribution this project is expected to make, especially to the community and district, including training and long-term jobs for over 500 people, a significant local economic multiplier effect and the generation of over US$1 billion of hard currency exports from initial open pit operations alone. 

“With this vital step now taken, we look forward to progressing with the final steps ahead before commencing construction.”

KEFI is a gold exploration and development company with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia.

www.kefi-minerals.com