KEFI Minerals Ltd, the UK mining company is set to construct a large-scale gold processing plant in Western Wollega, Tulu Kapi, according to The Reporter.

KEFI Minerals secured gold and silver mining license from the Ethiopian Ministry of Mines last April. Lately, KEFI floated international tender inviting companies that could supply, erect and commission a gold processing plant in the Tulu Kapi locality.

The gold processing plant will have the capacity to process 1.2 million tons of gold ore and produces 86,000-90,000 ounces (2650-2800 kg) of gold annually. The construction cost of the plant is estimated to be 120 million dollars.

Ministry of Mines states, KEFI is expected to produce 28,875 kg of gold and silver in the coming ten years. And it will generate 1.2 billion dollars and pay 130 million dollars in tax and royalty fees to the government.

Source: The Reporter