Kefi Gold and Copper reported its recent advancements at the Tulu Kapi Gold Project in Ethiopia, which it launched last May.
The London-listed company, according to Share Cast Monday report, is preparing the project for the finalization of a $320m project finance package.
Tulu Kapi would be Ethiopia's first large-scale mining project in three decades, and is projected to become one of the country’s largest export generators.
It said it had assembled top-tier teams, forged strong partnerships, and established banking relationships and contractor alliances to advance its mining projects in Ethiopia.
The favorable shift in the country’s policy and record high metal prices presented an opportunity for Kefi to push forward with its developments.
“I, and my fellow Kefi board members, are committed to delivering a substantial return on investment deserved by our patient Kefi shareholders and I would like to take this opportunity to thank all of Kefi’s stakeholders for their continuing commitment and support,” said executive chairman Harry Anagnostaras-Adams.
“The coming months are pivotal for Kefi, particularly with our Tulu Kapi project in Ethiopia, and I look forward to the exciting next stages in the development of our projects," he added.