KEFI Gold & Copper (AIM: KEFI) has commenced the Resettlement Action Plan for Phase 1 of its Tulu Kapi Gold Project in Ethiopia, a significant milestone in advancing the project toward production.
Compensation payments to local communities are now underway, fully funded by recent capital raised, which the company intends to refinance through its broader project funding package.
The resettlement process is being carried out in close collaboration with the Ethiopian government and aligns with international environmental and social performance standards. The early launch of this program signals KEFI’s commitment to staying ahead of schedule, with first gold production currently targeted for the second half of 2027.
With all key approvals secured, including Parliamentary ratification, KEFI has initiated on-site activities such as construction camps, security infrastructure, and road works.
The company expects to finalize project finance documentation by the end of August. Recent institutional investment from respected gold-focused funds further underpins market confidence and strengthens the company’s financial position as it moves into the development phase.
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