RE: Ethiopians are serious19 Jun 2023 08:16
EG putting more money in
Further Support from Ethiopian Government
The Ethiopian Government and its agencies have continued to show their support for the development of Tulu Kapi above and beyond meeting the afore-mentioned conditions precedent by undertaking several further recent initiatives:
· The Ethiopian Electricity Production Corporation has procured the major components for the Project's connection to the main power grid to ensure compliance with scheduled commissioning of the plant in 2025;
· The Ethiopian Roads Authority has reaffirmed the delivery schedule for the new all-weather access road;
· An MOU has been signed with the Regional Government to increase the aggregate Government equity investment in the Project, from US$20 million to US$30 million, as the Government is keen to preserve an equity interest of c. 25% alongside KEFI's c. 75%; and
· The Minister of Mines has circulated, for stakeholder comment, draft legislative reforms to encourage exploration and mining in Ethiopia. KEFI is actively involved in the various industry associations and is assisting where it can.