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newly appointed Minister for Mines, H.E. Habtamu Tegegn who was already supporting the project from his previous role as head of the Ethiopian Roads Authority
That for me is key here - we are now dealing with someone who is supportive and understands the work instead of one who, at worst was chiding and seemed to be expecting some kind of brown envelope. It's interesting that he hasn't been given another job. In our world we called that "sacked"
Funny how everyone moans when they haven't had an rns explaining the delay then they moan when they do get an rns explaining the delay.
All looking good and looking forward to the meeting to agree our investment (like we're gonna say no?)
the Tulu Kapi Gold Project in Ethiopia which is advancing to full project launch in light of the improvements in the Ethiopian working environment during the past twelve months and for which a formal update will be announced shortly,
Hawiah Mineral Resource Estimate has increased by 4.1 million tonnes ("Mt") to 29.0 Mt at 0.89% copper, 0.94% zinc, 0.67 g/t gold and 10.1 g/t silver, representing a tonnage increase of 16%. Total contained metal is now:
o 258,000 tonnes of copper (up 16% from 223,000 tonnes);
o 272,000 tonnes of zinc (up 30% from 210,000 tonnes);
o 620,000 ounces of gold (up 25% from 497,000 ounces); and
o 9.4 million ounces of silver (up 20% from 7.8 million ounces).
· Indicated Resource increased to 12.4Mt (up 14% from 10.9Mt), which now includes 1.2Mt of oxide material (previously all Inferred) containing 80,000 ounces of gold.
· Total Indicated and Inferred Resources reporting to the Open-Pit Scenario have increased to 11.1Mt (up 32% from 8.4Mt), reaffirming the potential for an initial open-pit mining operation and a lower start-up capital requirement.
· Drilling commencing in Q2 2023 is aimed at extending planned mine life by further increasing the Hawiah Mineral Resource and converting more Inferred Resources to the Indicated category.
Harry Anagnostaras-Adams, Executive Chairman of KEFI, commented:
"The updated Mineral Resource Estimate for the Hawiah Copper-Gold Project achieved our key objectives: a tonnage increase of approximately 16%, plus a higher overall increase in metal content due to overall improved grades, plus the increase in the Indicated Resource category, plus the increased open pittable component.
"The Hawiah Preliminary Feasibility Study is progressing well and additional drilling during 2023 is being designed to further increase and upgrade the resource.
"KEFI now has a platform of three advanced projects for development in the next few years: the Tulu Kapi Gold Project in Ethiopia which is advancing to full project launch in light of the improvements in the Ethiopian working environment during the past twelve months and for which a formal update will be announced shortly, the now larger Hawiah Copper-Gold project in Saudi Arabia, and the Jibal Qutman Gold project, also in Saudi Arabia."
The Ethiopian National Defense Forces (ENDF) has announced, once again, a renewed military operation against the Oromo Liberation Army (OLA), which the government refers to as PLF/Shene, in southern Oromia aimed at destroying the rebel group operating in the area and stabilizing the region. The army also said it has liberated several villages in Southern Oromia.
on 22 December, Oromia regional state has announced that it was preparing to take an “organized law enforcement measure” against the group. Deputy president of Oromia region Awolu Abdi said that the details “would be worked with serious attention to ensure lasting peace,” and that “an organized law enforcement measure [will] be launched.”
https://addisstandard.com/news-army-threatens-to-eradicate-oromo-armed-group-again-claims-success-in-liberating-villages/
I think kefi would have said in the tweet if it related to any deals kefi were making
We are pleased to see Endeavor Financial, our project finance advisers, win the MinesAndMoney 2022 “Deal of the Year” award!
The award was presented last week at the MinesAndMoney Awards for Outstanding Achievement.