Gold explorer KEFI Minerals (LON:KEFI) and the government of Ethiopia have triggered resettlement arrangements for the community around the company’s Tulu Kapi gold project.
Consultations are taking place at a national, regional and local level which would allow the construction of the mine to begin in the second half.
"KEFI and the government at all levels, have worked diligently with the local community to ensure that they are supported and compensated appropriately throughout the resettlement process,” said chairman Harry Anagnostaras-Adams.
"Tulu Kapi is an important project, not just for KEFI but for the district, region and for Ethiopia as a whole.
“All stakeholders recognise the value-added contribution this project is expected to make, especially to the community and district, including training and long term jobs for over 500 people, a significant local economic multiplier effect and the generation of over US$1bn of hard currency exports from initial open pit operations alone.”
Separately, the company said it hosting a site visit for analysts, investors and potential project financiers.