Kefi Minerals PLC (LON:KEFI) has announced that the Ethiopian Government has approved its Tulu Kapi Gold Project.

Moreover, the development has received approval from the Ethiopian central bank for its banking arrangements.

Fundamentally, the government consents are implementations of administrative matters. These include the registration of actual audited historical investment and approval of the finance-lease structure, among others.

Harry Anagnostaras-Adams, Managing Director, said “The Government has certainly accelerated the pace in recent times as regards the various regulatory processes for this, the first modern mine development in Ethiopia.

“All major policy matters are now resolved for the Project. There is every sign that the just-appointed Government leadership at the Federal, Oromia Regional and local levels is focused on making this happen very successfully and smoothly.

“KEFI and its partners in Project Company TKGM are very appreciative of the priority given to the Project at the same time when so many transformational changes are being made in Ethiopia generally. It is an exciting time to be establishing a new sector in Ethiopia.”

Kefi Minerals is a London-listed gold exploration and development company founded in 2006. It is primarily focused on the advanced Tulu Kapi Gold development project in Ethiopia.