KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said its Tulu Kapi mine construction timeline remains on track in spite of the Ethiopian government's declaration of a state of emergency in the Amhara region.
Amhara is approximately 700km from Tulu Kapi, KEFI noted, adding that security protocols in place are already to 'red zone' (higher risk category) levels, despite the project area typically rating as 'green' (low risk).
All project syndicate parties have been provided with detailed monthly reports by independent security assessors, Constellis, KEFI added, and are fully appraised of both the typical situation around Tulu Kapi, and the regional tensions to the north of the country.
Constellis recently reported: "TKGM's approach to security at the project site and the transport routes in and out, are sensible, pragmatic and in line with security best management practice."
KEFI added it remains on track for project launch community preparations this quarter ahead of procurement and construction to start in the final quarter of 2023.