Ethiopia

The Ethiopian Government has approved the mining license for East Africa Metals to proceed with the Mato Bula Gold Copper and Da Tambuk Gold Deposits at its Adyabo project within the country. The mining license agreements for Mato Bula and Da Tambuk have been formally approved by the Ministry of …

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, …

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 …

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 …

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 …