KEFI Gold and Copper (AIM:KEFI), the AIM-listed gold and copper development company with projects in Ethiopia and Saudi Arabia, has signed a mining services agreement with BCM Group valued at more than US$400 million over the initial nine-year life of its Tulu Kapi Gold Project in Ethiopia.
The contract is the largest single operational agreement for the project and covers the provision of open-pit mining services across the mine's full initial operating period.
The signing took place in London at the inaugural Ethio-British Investment Forum, with Ethiopia's Minister of Foreign Affairs present, signalling the political significance the Ethiopian government attaches to the development.
KEFI said tasks at Tulu Kapi continue to be implemented on schedule following the project's development launch, with the mining services award representing a significant step in mobilising the operation.
