5th Mar 2019 12:11
LONDON (Alliance News) - KEFI Minerals PLC on Tuesday said it has received support for its Tulu Kapi gold mine from Ethiopian Prime Minister Abiy Ahmed.
Shares in the gold exploration and development company were up 6.6% at 1.82 pence on Tuesday.
KEFI said Harry Anagnostaras-Adams, KEFI managing director and chair of the Tulu Kapi Gold Mines Share Co, is to make a keynote speech at the PDAC mining convention in Toronto. Anagnostaras-Adams will discuss the development of Tulu Kapi following his meeting with Ahmed late last week.
Anagnostaras-Adams will announce that Ahmed has given "full support and issued the relevant instructions to all relevant Ethiopian Government agencies" in order to hasten the construction of Tulu Kapi.
Moreover, the Ethiopian government said Monday this week that the Federal Council of Ministers had approved a further budget allocation for its current budget year to cover the costs of constructing roads and electricity connection for Tulu Kapi.
The Tuli Kapi project its 50% owned by government sector institutions and private-sector institutions. Currently all syndicate members are on track for their project contributions.
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