Business
KEFI Resumes Development at Tulu Kapi Gold Project in Ethiopia
StockMarket.et · 3 hours ago · Read the Full Story on StockMarket.et
AI SUMMARY
KEFI Gold and Copper has resumed development at Ethiopia's Tulu Kapi Gold Project following a temporary suspension due to a fatal security incident in September 2026.
- KEFI Gold and Copper resumed development at the Tulu Kapi Gold Project in Ethiopia following a temporary suspension.
- The suspension was triggered by a fatal incident on September 4, 2026, referred to as the Genji Incident.
- The incident was resolved on September 10 after engagement with local community leaders.
- The event marked the first fatality involving KEFI personnel during the company's 12 years in the project.
- During the suspension, senior management consulted with community representatives, government officials, security agencies, and stakeholders.
- The restart will begin with reconnecting the site to the regional electricity grid and remobilizing civil engineering teams for access roads.
- Subsequent phases will involve resettlement arrangements, security infrastructure upgrades, and earthworks for the processing plant.
- The project is expected to directly employ approximately 1,000 local people once active production is reached.
- International specialists and contractors will prioritize local businesses with operational experience in Oromia.
- The resumption follows a mining services agreement signed with BCM Group in June 2026 valued at over $400 million.
- International lenders remain committed to the project as discussions continue regarding timelines and financing arrangements.
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