KEFI Gold and Copper (LSE:KEFI) said all employees affected by the recent security incident at its Tulu Kapi Gold Project in Ethiopia have been accounted for, with no additional fatalities or injuries reported following the death of one colleague.
Senior management travelled to Ethiopia following the incident and held discussions with community representatives as well as national and regional authorities. The company said those consultations included reaffirmed support for the project and its role in the local economy.
KEFI is working with lead contractor Lycopodium and local contractors to review and refine development plans for Tulu Kapi. The company said it is taking a cautious approach to restarting activities at the site.
Development work will resume only after the investigation into the incident has been completed and the company is satisfied that a safe operating environment is in place.
KEFI also reported renewed and increased interest from Ethiopian institutions and family offices in providing financing through redeemable preference shares at the subsidiary level. The proposed structure would be non-dilutive at the KEFI shareholder level.
More about KEFI Gold and Copper plc
KEFI Gold and Copper plc is a mineral exploration and development company focused on gold and copper projects in the Arabian-Nubian Shield.
Its portfolio includes the Tulu Kapi Gold Project in Ethiopia as well as mineral projects in Saudi Arabia.
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