(NewsDirect)
KEFI Gold and Copper PLC (AIM:KEFI,OTC:KFFLF) executive chairman Harry Anagnostaras-Adams joinedProactive's Stephen Gunnion with an update on the company'sTulu Kapi gold project in Ethiopia following stakeholder meetings atthe Mining Indaba in Cape Town last week.
Anagnostaras-Adams detailed the innovative financing structuredesigned to progress these projects without relying on equity marketcapital. This approach includes utilizing conventional projectfinance, engaging mining and processing contractors for riskmitigation, and securing development bank support due toEthiopia's evolving regulatory landscape.
The financing arrangement marks apioneering effort in Ethiopia, representing the first internationallyfinanced, bankable project development in the country's privatemining sector. This development adheres to the highest InternationalFinance Corporation standards for environmental and social governance,highlighting KEFI's commitment to responsible miningpractices.
Furthermore, Anagnostaras-Adams emphasized theimportance of community engagement and the meticulous planningrequired to ensure local support and security. With a comprehensivestrategy encompassing physical, legal, and financial preparations,KEFI aims to launch the project in the first half of the year. Thisambitious plan involves local capital investment, leveragingmultinational subsidiaries in Ethiopia, and navigating thecountry's regulatory adjustments to facilitate foreign investment.
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