Ethiopian min to start producing gold in 2017

Project cargo opportunities
are opening up in Ethiopia
with the finalisation of the
funding structure for a new
gold mine.
Tulu Kapi Gold Mine is
situated 28km east of Ayra-
Gulliso, a town in the state
of Oromia.
The Tulu Kapi Mining
Agreement between the
Ethiopian government
and London-listed KEFI
Minerals was formalised in
April 2015.
The terms include a
20-year mining licence, full
permits for the development
and operation of the Tulu
Kapi gold project and a 5%
government free-carried
interest.
It is projected that the
mine will produce
980 000 ounces of gold
over 10 years, with an
average of 115 000 ounces
per year, excluding the
start-up and the closure
years.