KEFI Gold and Copper PLC said a new directive from the National Bank of Ethiopia (NBE) means the Tulu Kapi gold project complies with the country's capital controls.
This was one of the final action points remaining to enable the completion of the Tulu Kapi Project financing package, KEFI added.
Formal approval of the updated environmental and social impact assessment has also been received together with the requested updated completion schedules by the electricity and road authorities for offsite infrastructure.
Security to facilitate next steps in the field and to ensure continuing stability is being addressed, KEFI’s statement added.
“Only documentation and administrative matters remain,” it said, adding that the project remains on track for launch in the fourth quarter of 2023.