The Tulu Kapi gold mine, which is Ethiopia's first modern industrial-scale gold producer, is scheduled to begin operations in September. The mine has a capital investment of over 500 million USD and has completed all necessary preparations to commence its activities.
The project was designed to meet current world standards for social, environmental, and other aspects. The company has already spent over USD 80 million of the required capital, and its development will create about 1,000 direct employment opportunities for local citizens.
The product produced by the company will directly go to the National Bank of Ethiopia, and there will be strict checkpoints to prevent contraband and illegal trade. KEFI Gold and Copper Plc's Chief Operating Officer, Eddy Solbrandt, said that the company would be operational soon, complying with international gold mining procedures.
The company has the potential to produce about five tonnes of gold per annum by processing microscopic-sized gold particles that are not recoverable by small-scale mining operations.
Source: The Ethiopian Herald