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Ethiopia lures Chinese miners

Potential Chinese investors have set their eyes on Ethiopia’s mining sector for major investments.The development comes as Ethiopian authorities escalate efforts to attract foreign firms in the extraction of the country’s abundant mineral resources. Assefa Kumsa, Ethiopia’s State Minister of Mining and Petroleum said his government is inviting experienced foreign …

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Tulu Kapi project gets approval in Ethiopia

Authorities in Ethiopia, contractors Lycopodium and Ausdrill/African Mining Services and preferred project financiers have agreed on the final project model for Kefi Minerals’ Tulu Kapi. “The models were uploaded into the formal financing data rooms. They show some improvements for shareholders, as compared with recent company guidance,” said Harry Anagnostaras-Adams, …

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Ethiopian court dismiss litigation claims against Kefi

Ethiopia’s Federal Supreme Court has eliminated all claims against gold miner Kefi Minerals, The ruling has released the company from potential liability regarding an inherited claim for damages. Earlier this year, a court judgment reduced the company’s liability from $12-million to $600 000. “If another appeal is raised, which remains …

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Ethiopia’s minerals attract Hong Kong investor

Africa focused mineral exploration company – East Africa Metals has signed a finance deal with Hong Kong-based Luck Winner. Luck Winner Investment Limited will provide development financing to the tune of US$250 million to be used for development of projects in Ethiopia. The deal also includes a private placement for …

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Ethiopia’s Tulu Kapi gold projects gets funding

Kefi Minerlas has signed on-site funding agreement for Tulu Kapi gold project in Ethiopia. The $135-million deal with Oryx Management to finance and operate all the on-site infrastructure follows Kefi’s signing of terms with the Ethiopian government to fund the building of all off-site infrastructure for the project. “Kefi has …

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