KEFI Gold and Copper is preparing to launch full development of its Tulu Kapi gold project in Ethiopia in October 2025. This marks the company’s move from prolonged groundwork into full construction mode, backed by a financing package now close to completion. Around US$340 million has been assembled through a mix of debt and equity, drawing participation from regional partners, contractors, and the Ethiopian government.
At site level, early groundwork has already started. Road access, utilities, and camp installations are being mobilised, while the community resettlement programme, critical in Ethiopia’s regulatory landscape, is progressing through its first stages. This period of tangible progress contrasts sharply with previous years of delay, and investors are beginning to view the timeline as credible rather than aspirational.
The company’s broader portfolio adds depth to this phase. In Saudi Arabia, KEFI continues to build value through its Gold and Minerals joint venture, where the Hawiah and Jibal Qutman projects have both reported upgraded resources and improved economics. This growing pipeline provides not only geographic diversification but also future cash flow potential beyond Ethiopia.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.
