24th Jun 2019 14:09
(Alliance News) - KEFI Minerals PLC said it has imposed a heightened duty of care and increased its security procedures at its Tulu Kapi gold project in Ethiopia after a failed coup attempt.
The localised coup attempt took place in the Bahir Dar region of Ethipia, 500 kilometres from KEFI's flagship project.
"As a precautionary measure the company has imposed a heightened duty of care on its activities and has elevated security procedures. Otherwise this incident has no impact on KEFI's current or planned activities and there were no such attempts in the remaining provinces, including Oromia, where the project is located," said KEFI.
KEFI's timetable has not been changed. The firm has re-sequences activities at the site so that communities can be consulted and the resettlement of sixty households can take place.
KEFI Chair Harry Anagnostaras-Adams said: "After consultations with the community, the authorities and our Ethiopian partners, we have informed the authorities of our plan to proceed with the first stages of project development when the community and local administration are ready. This weekend's events took place a considerable distance from the Tulu Kapi site and we expect no impact on operations or the development timetable of the Tulu Kapi project. Nonetheless, KEFI has immediately elevated security procedures and will continue to ensure all stakeholders proceed with the utmost vigilance with respect to safety and operations, as has always been the case."
Shares in KEFI were down 6.2% at 1.45 pence each on Monday afternoon.
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