KEFI Minerals plc (LON:KEFI) has received a financial boost from the Ethiopian Revenues and Customs Authority in the form of a £1mln VAT refund.
The country is host to the gold explorer’s Tulu Kapi project, which is being developed for production.
"The Ethiopian government have remained supportive of our project in Ethiopia and are committed to facilitating growth of the mining sector,” said KEFI’s chairman Harry Anagnostaras-Adams.
“It is a mark of our relationship with the Government that payment of our VAT refund is occurring in a timely fashion. The monies received will be used to fund operations on the ground and progress the Tulu Kapi project."