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KEFI Gold & Copper Advances in Ethiopia: A Closer Look

KEFI Gold & Copper PLC, an exploration and development company focused on the Arabian-Nubian Shield, has made significant strides in its projects in Ethiopia and Saudi Arabia. Recently, Harry Anagnostaras-Adams, the company’s chairman, shared updates on the company’s progress with Proactive, shedding light on their current activities and future plans.

At the heart of KEFI’s activities in Ethiopia is the Tulu Kapi Gold Project. Anagnostaras-Adams emphasized the company’s commitment to community engagement and safety measures. The early works program, which began a few months ago, aims to demonstrate to all stakeholders that the project is ready to proceed. This program is crucial for building trust with the local community and ensuring the project’s smooth progression.

During a recent visit to the site, Anagnostaras-Adams noted the community’s enthusiasm for job creation and development opportunities. “The feedback from the community at yesterday’s meeting was jobs, jobs, and jobs,” he said, highlighting the local desire for employment and growth.

A major component of the early works program is the resettlement of 350 households to facilitate development. This process involves relocating families to new host lands surveyed by the government. Anagnostaras-Adams explained that this resettlement is essential for advancing the project, allowing construction to begin in key areas.

The early works program will run through September, leading up to major construction efforts planned for October. By the end of the first quarter next year, the focus will shift to community engagement and international equipment fabrication. This phased approach, although extended by the need for resettlement, is critical for establishing a social license and building a local workforce.

To streamline operations and facilitate local investment, KEFI has initiated an internal corporate reorganization. This involves converting a registered branch into an incorporated entity and establishing a local holding company to oversee the Tulu Kapi project and other ventures.

Anagnostaras-Adams highlighted the significance of this reorganization, noting the registration of applications for various minerals, including gold, lithium, nickel, and copper. The company aims to attract both multinational subsidiaries and local Ethiopian investors, reflecting Ethiopia’s pride in never being colonized and its focus on “Ethiopianization.”

KEFI’s endeavors are not confined to Ethiopia. The company has also been active in Saudi Arabia, where it has become a minority shareholder in several promising projects. Anagnostaras-Adams described the high-pressure progress in the region, emphasizing the creation of local subsidiaries and the potential for local listings.

Working in the Arabian Nubian Shield since 2008, KEFI is leveraging its long-standing presence to capitalize on growing interest in the region. The company is focused on expanding into various assets, with an eye on future growth.

KEFI Gold & Copper PLC is making substantial progress in both Ethiopia and Saudi Arabia. With a strong focus on community engagement, strategic resettlement, and corporate reorganization, the company is well-positioned to advance its projects and create lasting benefits for local communities. As KEFI continues to develop its assets in the Arabian-Nubian Shield, stakeholders can expect ongoing updates and developments from this dynamic exploration and development company.

For more detailed information and updates, KEFI Gold & Copper PLC’s advancements can be tracked through their regular communications and investor updates.

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Habtamu Alemu

Habtamu Alemu is a seasoned journalist and the editor-in-chief of Ethio Eyewitness News.

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