13:27 07 Aug 2017
KEFI is constructing the Tulu Kapi gold mine in the country
State of emergency lifted
KEFI Minerals PLC (LON:KEFI) has noted that Ethiopia has lifted the state of emergency implemented in October 2016.
The junior miner recently agreed a finance package for the construction of the bulk of its Tulu Kapi gold mine in the country.
Infrastructure specialist Oryx is to put up US$135mln in new debt through a lease and payback arrangement that will also see it become the processing plant operator.
READ: Finance package for Tulu Kapi burnishes KEFI Minerals’ appeal
Shares in Kefi gained 12.47% to 5.29p in afternoon trading.
Source – Proactive Investors
KEFI welcomes lifting of Ethiopia state of emergency
KEFI Minerals said it was pleased to note that the government of Ethiopia had announced the lifting of the state of emergency implemented in October 2016, following a vote in the country’s parliament.
KEFI said it continued to progress its Tulu Kapi gold project in western Ethiopia towards development, with support from the Ethiopian government.
It added thatthe World Bank forecast Ethiopia to be the world’s fastest growing economy in 2017 in its latest edition of ‘Global Economic Prospects’ published in June 2017.
Shares in Kefi Minerals Rise After Ethiopia Lifts Sate Of Emergency
LONDON (Alliance News) – Shares rose in Kefi Minerals PLC after the miner said on Monday the Ethiopian government has lifted a state of emergency after 10 months.
LONDON (Alliance News) – Shares rose in Kefi Minerals PLC after the miner said on Monday the Ethiopian government has lifted a state of emergency after 10 months.
AIM-listed Kefi is currently developing the Tulu Kapi gold project in western Ethiopia with support from the country’s government.
The state of emergency was lifted following a vote by Ethiopia’s parliament last Friday after it was imposed in October 2016 to crush anti-government protests.
Kefi said the Work Bank forecasts Ethiopia to be “world’s fastest growing economy in 2017” in the latest edition of Global Economic Prospects published in June.
Kefi said the Work Bank forecasts Ethiopia to be “world’s fastest growing economy in 2017” in the latest edition of Global Economic Prospects published in June.
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