Kefi Gold and Copper (AIM:KEFI) confirmed all employees affected by the security incident at its Tulu Kapi gold project in Ethiopia have now been accounted for, with no further fatalities or injuries reported.
The AIM-listed company, which is focused on gold and copper exploration and development across the Arabian-Nubian Shield, said the colleague killed in the attack has been laid to rest.
The incident, first disclosed on 7 September, involved the destruction of the project's security force bush camp and an older exploration camp.
Since then, senior management has held talks with community representatives, Ethiopian and Oromia government officials, and other stakeholders, who reiterated their support for the project and for a careful, phased return to development.
Lead contractor Lycopodium has an oversight team in Ethiopia working with the wider project team as plans are reassessed.
Kefi also reported renewed and increased interest this week from Ethiopian institutions and high net worth family offices in subscribing for redeemable preference shares at the project's subsidiary level, funding that would be non-dilutive to KEFI shareholders.
Development activities will not resume until the company completes a full investigation and establishes measures to secure a safe operating environment.
"The Government has committed to do whatever it can to overcome this serious setback," said Harry Anagnostaras-Adams, Kefi's executive chairman, adding that the company would accelerate local participation across contracting, community involvement and project funding.
News Intelligence what this means for the company
Kefi confirmed all staff are accounted for following the 7 September security incident at Tulu Kapi in Ethiopia, with no additional casualties beyond the one fatality already reported. The company has secured renewed interest from Ethiopian institutions and family offices in non-dilutive subsidiary-level funding, and stakeholders including government officials have reiterated support for a phased return to development—but development activities will not resume until the company completes a full investigation and establishes measures to secure a safe operating environment.
The incident remains a material operational and timeline risk: Tulu Kapi holds roughly US$240 million of secured project debt at subsidiary level, and any extended suspension or material cost to security hardening could pressure the project's economics. The fresh local funding interest is a positive signal of stakeholder confidence, but it does not alter the fact that resumption depends on completing a security investigation whose scope and timeline remain undisclosed.
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