17th Jul 2015 07:19
LONDON (Alliance News) - KEFI Minerals PLC said Friday that final bidding has opened for contracts to construct a process plant and for the operation of the mine at its key asset Tulu Kapi in Ethiopia.
The company expects to announce the winning bidders next month.
"We are pleased to be reaching another milestone in the development of Tulu Kapi, our key asset, and are delighted with the high calibre of the bidders. Progress on the project remains on schedule for optimisation of development funding this quarter, commencement of works next quarter and production in early 2017," said Executive Chairman Harry Anagnostaras-Adams in a statement.
Shares in KEFI are trading down 9.7% at 0.700 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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