Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Ethiopian mining ministry
https://www.facebook.com/MinesandPetroleum
In the mining sector, there are activities that are going to play a significant role in the economic growth of the country - Engineer Habtamu Tegegn
Addis Ababa; January 3/2016 (EZA) ር Mining Minister Engineer Habtamu Tegegn stated that the mining sector has been taking place to play an important role in the economic growth of the country.
The minister has given a briefing to the media regarding the activities of the mining sector.
The government has explained that in the multisector economy, it is creating a convenient situation to make minerals the main source of growth.
They said that in this sector works are being carried out to make the main source of income for the agriculture and industrial sector.
In the ten year leader development plan, he has also explained that the focus is on making use of Ethiopia's precious mineral resources to ensure overall prosperity.
They mentioned that the main focus of the mining sector is to provide foreign exchange, to replace the imported products locally and to create job opportunities.They noted that carrying out environmental protection works is another area of focus.
It has been mentioned that there is a lot of efforts being carried out by exporting gold and other minerals to gain high foreign exchange.
The minister said that in addition to the gold that is traditionally produced, work is being made at factory level in quality and quantity. Therefore, the construction of about five factories is about to be completed.
They have expressed great attention to the mining sector and said that they are working to produce teki products locally.
Unlike the production of Teki products locally, minerals like coal and cement are being produced locally.
They have pointed out that efforts to produce fertilizer products locally are being carried out.
They have stated that the mining sector has a responsibility expected from all citizens to make it a basis for economic growth.
The actions that are being done to strengthen the sector by the government are promising and the peacefulness in different areas is crucial for the growth of the sector.
The National Information and Security Service has announced that 29 foreign nationals and two Ethiopian suspects who were involved in illegal gold production and trade have been arrested.
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"They mentioned that the main focus of the mining sector is to provide foreign exchange, to replace the imported products locally and to create job opportunities.
They noted that carrying out environmental protection works is another area of focus.
It has been mentioned that there is a lot of efforts being carried out by exporting gold and other minerals to gain high foreign exchange.
Hello Sharezy was thinking of areas further out rather than areas proximal or close to TK covered by TK finance. If kefi can point to faster and wider development in a JV with Saudi i am sure the Ethiopians would be happy.
Https://www.proactiveinvestors.com.au/companies/news/1038290/surefire-resources-signs-milestone-mou-with-saudi-based-mining-and-metals-company-1038290.html
https://skillings.net/nigeria-saudi-arabia-pledge-collaboration-on-mining-sector-development/
https://skillings.net/morocco-ksa-sign-mou-to-promote-cooperation-in-mining-sector/
https://www.miningreview.com/battery-metals/power-metal-resources-pens-mou-with-saudi-arabia/
Could Kefi do a deal with Saudi over investment into Ethiopian exploration areas now Saudi has shifted to investing mining projects worldwide as well as their own country?
Https://www.proactiveinvestors.co.uk/companies/news/1038117/london-ipos-fall-to-lowest-in-28-years-as-drought-continues-1038117.html
“As at 31 December, the AIM market had shrunk to 753 companies, a 20-year low. The number of new issues last year was just 15 companies, the lowest in AIM’s history since its formation in 1995. The second worst year for admissions was 2022 which highlights the scale of the ongoing crisis facing the market.” (Shareprohets)
https://www.argaam.com/en/article/articledetail/id/1697533?IRAccessToken=retal
https://www.zawya.com/en/markets/equities/arab-stock-markets-secure-record-gains-of-493bln-in-2023-with-uae-saudi-arabia-leading-lp9yd93a
https://bnnbreaking.com/world/saudi-arabia/saudi-arabia-paves-the-way-for-new-metals-and-mining-stock-exchange/
https://www.spglobal.com/marketintelligence/en/mi/research-analysis/saudi-arabia-the-one-to-watch.html
https://www.bloomberg.com/news/articles/2023-11-23/saudi-arabia-targets-secondary-offerings-as-ipos-boom-ecm-watch?leadSource=uverify%20wall
HtTps://www.nationthailand.com/thailand/economy/40034685 (Saudi mining)
htTps://bnnbreaking.com/world/saudi-arabia/saudi-arabia-paves-the-way-for-new-metals-and-mining-stock-exchange/
In an ambitious move, Saudi Arabia is making strides towards establishing a new metals and mining stock exchange. The Ministry of Industry and Mineral Resources is joining forces with the Ministry of Commerce, the Capital Market Authority, and local business moguls to evaluate the potential for such an exchange. (kefi listing opportunity?)
htTps://today.thefinancialexpress.com.bd/stock-corporate/saudi-investment-ministry-signs-deal-with-uk-firm-1705161882
Meanwhile, the Saudi Export-Import Bank has signed an agreement with its US counterpart designed to boost cooperation and help strengthen economic and trade relations between the two countries.
The memorandum of understanding, signed on the sidelines of a recently concluded international mining forum in Riyadh..
Https://goldprice.org/
https://www.kitco.com/price/precious-metals/gold
https://www.youtube.com/watch?v=mTafCMBGuKk&list=PLE1y8hGSqr8ar1gKUdfqFDK5ygLIlrdmz&index=1 gold price revaluation?
Plump pivot moment the second bank sign off “within” a month other things are already happening in parallel see previous post. If the banks are happy do you really see any other member of the consortium having a problem?
From Hotstock rockets
“It is also emphasised “the entire US$320 million finance package is designed at the subsidiary level… The targeted value-add from project implementation is many times today's KEFI share price… whilst also addressing our highly prospective exploration pipeline in both Ethiopia and Saudi Arabia”.
Plump basically between the market cap and the share price there is a huge disconnect just on TK and that's before you even get to the Saudi side.
You shifting your position so yo now see this going ahead?
As with a lot of harry short interviews have to get past the delivery and actually look at what is being said..
“The government has made a number of important changes to the laws and the rules and mining and so the main/Lead banker has granted their approval, the lead Equity investors government and private investors have done the same and so very good.” Basically the rest of the consortium were already happy just waiting on the banks.
“so those three things are happening now in parallel to allow the whole project to go proceed in a few months time
“there is no one trying to block us quite the opposite when we push against the government door the door open. When we push against a contractor a lender or investors door the doors open the door is open.”
Harry talking about full go ahead before that obviously will get the second bank go ahead then followed by a stream of go ahead by other parties.
As for Saudi its all good basically so much money washing around Suadi chasing not many international miners that “it will be quite easy to move forward without reliance on capital from outside Saudi.”
Part two
(Interviewer) do you really thing a few months time is realistic considering there are all those moving parts?
(Harry) There are no fundamental obstacles..we know from experience that the first transaction in a country that has suffered turbulence has been vulnerable to delay..what I am projecting there is things going reasonably well not as fast a they could possibly go but no major holdups what is.. important is that there are no fundamental hold ups there is no one trying to block us quite the opposite when we push against the government door the door open. When we push against a contractor a lender or investors door the doors open the door is open. I could not have said that a year ago we had to push hard but now the door is wide open.
People want to get on with it we have all invested years shareholders have invested money even all these syndicate members have invested time and money…when the stars align you should go (for it) and that is where we got to.
(Interviewer) lets look at Saudi now..
(Harry) In Riyadh..it difficult to convey the difference between the atmosphere in Riyadh and Saudi and almost ever other jurisdictions in the world for mining you walk around most jurisdictions you walk around most jurisdictions full of ideas and ambition but not a lot of money chasing it Saudi is the opposite a lot of money chasing mining..we are amongst the head of the pack..we have assets in feasibility studied for development and a large pipeline of exploration assets it is refreshing and uplifting.. I feel very confident..the ability of kefi to leverage of fifteen years work in Saudi Arabia.. and the sovereign fund and other Saudi capital providers wish to pursue our vision is a comforting feeling.. I feel very optimistic that once we select the preferred scenario for each of our projects..it will be quite easy to move forward without reliance on capital from outside Saudi.
It what you actually say..
Part one
(Harry coming from Riyadh)
(Interviewer) we are going to talk about your work in Saudi a little bit later Harry but first some news out of TK this week.
(Harry) Yeah pleasing to report an important milestone..we were ready to get credit approval a few years ago then we suffered the frustration of turbulence in Ethiopia.. so we had to batten down the hatches and keep the syndicate together and now we are very fortunate and pleased that that we are getting on with it now.
The government has made a number of important changes to the laws and the rules
and mining and so the main/Lead banker has granted their approval, the lead Equity investors government and private investors have done the same and so very good.
(interviewer) anyone who has been keeping an eye on kefi in the long term Harry will know there are quite often these procedural breakthroughs..but what does this news mean today?
What it means we have triggered three things in parallel to start up the full construction in a few months time..one is preparing the community..we did not want to give them a false start or false hope so we waited for this moment before going out there and sitting with each one of he households explaining what it all means to them, it is compulsory resettlement but nevertheless its important that it is done properly..that's one thing in parallel the approvals of the secondary parties the lead bank approved now the others follow.Those processes we feed as well and the third thing is the detailed documentation… so those three things are happening now in parallel to allow the whole project to go proceed in a few months time as a total package.
Https://www.ft.com/content/46bf21a4-e626-4581-ad85-8b74bbd82e4e
The venture, 51 per cent owned by Saudi state-owned miner Ma’aden, with the remainder owned by the country’s Public Investment Fund, will take non-operating minority stakes in mining projects internationally, the two companies said on Wednesday.
Also on Wednesday, Maaden said that it would buy a 9.9 per cent stake in Ivanhoe Electric, a US mineral exploration group backed by mining tycoon Robert Friedland, for $126mn, giving it access to geological surveying technology. It also signed on the same day a joint venture agreement with Barrick Gold, the world’s second largest gold producer, to explore for minerals at the site of the Jabal Sayid copper mine.
https://www.kefi-goldandcopper.com/files/files/Orior-Capital-KEFI-Research-Report-25Jan23.pdf Jabal Sayid not too far away from a couple of kefi licence areas.(slide/page 40 image)
Https://www.arabnews.com/node/2284431/business-economy Artar kefi joint venture partner one of those bidding though obviously with so many bidders long shot them getting it but shows the JV is taken seriously in Saudi and who knows they might get lucky. Another possible development is Ivanhoe making discoveries near kefis prospects with their impressive new tech with them active in one of the same regions as kefi.
Tons of developments still catching up if anyone comes across any info on the exploration fund the Saudi are going to set up feel free to post it up ditto more detail on tax break for companies having their HQ in Saudi.
https://www.youtube.com/watch?v=X6fxNzAUWZM
https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/011124-saudi-arabia-fast-tracks-efforts-to-become-leader-of-minerals-super-region
https://www.mining.com/web/saudi-arabias-manara-minerals-fund-plans-metals-trading-arm/
https://economysaudiarabia.com/news/future-minerals-forum-global-metals/
https://www.zambiamonitor.com/saudi-arabia-extols-zambias-reforms-in-mining-sector/
https://en.trend.az/casia/kazakhstan/3847624.html
https://www.leaders-mena.com/canadian-delegation-partakes-in-future-minerals-forum-in-saudi-arabia/
https://www.arabnews.com/node/2439981/business-economy
https://www.zawya.com/en/projects/mining/saudi-seeks-to-build-investor-friendly-mining-system-official-jj66a5ep
https://www.arabnews.com/node/2440041/business-economy
Https://twitter.com/FutureMineral/status/1745434150348144736/photo/1
“Saudi must be seen as the gold standard,” from a responsibility standpoint, says CEO of Gold & Mineral Co Brian Hosking. “Norway is busy deep sea mining, which is a big issue. But if it's good enough for Norway, people go along with it”.
Https://www.zerohedge.com/geopolitical/impact-saudi-arabias-30-year-tax-relief-plan-national-and-regional-development
If a lesson was ever learned about the UAE’s demonstrable success, then Saudi Arabia’s announcement of a 30-year tax exemption package for foreign companies establishing their regional headquarters in the Kingdom would be it. Declared in a statement released through the Saudi state press agency, “The Ministry of Investment of Saudi Arabia, in coordination with the Ministry of Finance and the Zakat, Tax and Customs Authority today announced a 30-year tax incentive package for The Regional Headquarters (RHQ) Program, to further streamline the process for multinational companies (MNCs) to establish their RHQ in Saudi Arabia”.
Emerging as one of the fastest growing regions in the past 20 years, the GCC has widely capitalized on its hydrocarbon wealth by diversifying into a broad range of sectors, while attracting many of the world’s biggest brands to cater to its burgeoning populations. As a result, its increasing competition towards foreign direct investment, acquisitions, and events, has meant a more calculated look at taxation, and striking a balance between diversification and competition.
Thanks TCM for confirming Brain did well by not being able to come up with anything to attack him (as we know you love the personal attacks) on the big stage. However think you should keep you stand-up routine to the local pub circuit and get some new material.
Ten minutes to go till kefis (G @M) panel discussion.
https://www.futuremineralsforum.com/