Focused on the Arabian-Nubian Shield
Ethiopia, Saudi Arabia
Our aim is to create wealth for our shareholders by developing into profitable mines the gold and base metal deposits that the company has discovered or acquired in a cost-effective manner.
KEFI was formed in 2006 as an explorer-developer focused on the Arabian-Nubian Shield, due to its outstanding prospectivity for gold and copper in particular. The company’s mission is to discover or acquire economic gold and copper mineralization and follow through where justified with cost effective responsible mine development and production in compliance with local laws and international best practice.
KEFI partners with appropriate local organizations of standing, such as ARTAR in the Kingdom of Saudi Arabia for our Gold and Minerals Limited (“G&M”) incorporated joint venture and with the Government in Ethiopia for our jointly owned Ethiopian project company, Tulu Kapi Gold Mines Share Company (“TKGM”).
We now have three advanced development projects and an excellent exploration portfolio:
- Tulu Kapi Gold in Ethiopia (construction 2023-2024 for production from 2025)
- Jibal Qutman Gold in Saudi Arabia (construction 2023-2024 for production from 2025)
- Hawiah Copper-Gold in Saudi Arabia (construction 2024-2025 for production from 2026)
- Exploration portfolio mainly in known mineralized zones of Saudi Arabia
- Over the next three years KEFI is targeting to start gold production in both Ethiopia and Saudi Arabia and to then start development of Hawiah Copper-Gold Project in Saudi Arabia, lifting aggregate production to a gold-equivalent 400,000oz p.a. (KEFI interest c.200,000oz p.a.)
- Development expenditures for all three of KEFI’s advanced projects are intended to be almost entirely financed at the project or subsidiary level
- Tulu Kapi, Ethiopia:
>> Progress remains on track for definitive documentation to be signed by year-end for the Tulu Kapi Gold Project financing and project launch.
>> KEFI is now targeting 70-80% ownership interest in the project.
- Jibal Qutman, Saudi Arabia: Definitive Feasibility Study well advanced and completion in early 2023. Expected to start construction within six months of Tulu Kapi
- Hawiah, Saudi Arabia: Update Mineral Resource Estimate expected in December 2022 and Preliminary Feasibility Study well advanced for completion in early 2023 to reflect expanded resources
- Exploration pipeline to be progressed in-parallel to the three advanced project