KEFI Gold and Copper (KEFI) is triggering the community resettlement programme at the Tulu Kapi gold project in Ethiopia.
Funding for the resettlement programme, and the payment of compensation, comes from KEFI’s existing cash reserves.
The company will be reimbursed from the drawdown of the broader project funding package.
The community resettlement is being implemented in collaboration with the Ethiopian government in compliance with World Bank IFC Performance Standards.
This step is a little ahead of the project schedule, reflecting the current drive to launch full development as soon as possible and the aspiration to commission gold production in the second half of 2027.
This latest development was announced at the Investment in Ethiopian Mining Forum at the Ethiopian Embassy in London, co-hosted with the British Embassy of Addis Ababa and KEFI, which was held on the evening of 15 July 2025.
KEFI's presentation given at this event may be accessed on the company's website: https://www.kefi-goldandcopper.com
"In mid-2022 the project syndicate formally agreed to prepare for project launch following the lifting of the Ethiopia State of Emergency earlier that year,” said KEFI’s executive chairman, Harry Anagnostaras-Adams.
“At the time, we agreed and published three major conditions precedent: installation of security, exemption from exchange controls and parliamentary ratification of both of our banks. The last of the three major conditions was met in May 2025. We are now pressing forward accordingly and appreciate the support we receive from the local community and the government at all levels to complete the remaining administrative tasks so that we can proceed with all development tasks leading to commissioning of production in 2027. We have also recently built the initial security and construction camps and almost completed a new access road. Project finance continues to come together at the subsidiary level in preparation for all the parties to sign detailed definitive documentation, targeted for end-August 2025.”
View from Vox
Tulu Kapi is coming closer and closer to construction, and it’s a highly conducive time to be building a gold mine. That’s perhaps why major international gold investment institutions have recently become KEFI shareholders, including Ruffer Gold, Konwave/Gold 2000 and Phoenix Gold Fund. Expect KEFI to pass more milestones in the coming weeks.