June 20, 2024

My Views on News

Impartial and Unflinching

tulu kapi

Ethiopia Launches Tulu Kapi Gold Mine Project

Spread the love

Today, on 20th May 2024, KEFI Gold and Copper PLC (KEFI) officially launched the Tulu Kapi Gold Mines (TKGM) project in Ethiopia. The project launch was approved by the TKGM board, in which Ethiopian federal and Oromia regional government members were included. KEFI Gold and Copper Plc is a gold exploration and development company based in Cyprus.

The Tulu Kapi Gold Mines project is located in the Oromia region of western Ethiopia. The project is situated about 28 km east of the town of Ayra-Gulliso in the West Wollega zone. This project would be the first large-scale industrial mining initiative in Ethiopia in nearly 30 years.

The planned Tulu Kapi open pit gold mine and processing facility is typical of many such “open-pit-CIL-gold-projects” around the world. KEFI has partnered with the Ethiopian Government for jointly owned Ethiopian project company, Tulu Kapi Gold Mines Share Company (“TKGM”).

The project is expected to create around 1,000 direct jobs and 5,000 to 10,000 indirect jobs, with a foreign direct investment of around $500m.

Other Stories

Techno Unveils the Camon 30 Pro 5G in Ethiopia

Ethiopia Earns $2.5 Billion from Foreign Trade