Kefi Gold and Copper (AIM: KEFI) founder Harry Anagnostaras-Adams says a US$320-million construction loan for the company’s first mine, Tulu Kapi gold mine in Ethiopia, is expected to close shortly, with first production following as soon as late 2025.
Pending approvals from private investors and a consortium of African banks, Adams says construction at Tulu Kapi, about 360 km from Addis Ababa, will ramp up quickly once the cash flows.
“In principle, we’ve broken the back of the financing,” he said last month during the Gold Forum Americas in Colorado Springs. “We expect to close in the next two months completely.”
Adams also highlighted Ethiopia’s return to stability during the conference and its return to the top 10 growth countries of the world.,” he said.
Watch the full interview below with The Northern Miner’s western editor, Henry Lazenby.
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