KEFI Gold says on track to start construction of Tulu Kapi project in fourth quarter
2022-07-13 08:08:00
Tulu Kapi is set to be the first industrial scale mine development in Ethiopia for more than 30 years
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it continued to make progress in Ethiopia and Saudi Arabia in the second quarter following an improvement in the local working environment in both countries since late 2021.
"Work is gathering pace on many fronts,” executive chairman Harry Anagnostaras-Adams said in the gold exploration and development company’s second-quarter operational update.
“We are firmly on track to achieve the following milestones in Q4 2022: in Ethiopia for financial close and the launch of construction of our Tulu Kapi gold project and in Saudi Arabia our larger Hawiah copper-gold project to deliver its PFS [pre-feasibility study].”
During the second quarter, KEFI continued its project launch preparations for Tulu Kapi, set to be the first industrial scale mine development in Ethiopia in over 30 years, and signed an umbrella financing agreement.
READ: Kefi Gold jumps on Tulu Kapi umbrella financing
The security situation has materially improved in Ethiopia since the end of last year, with the end of the civil war in the country's northern regions in December 2021, the lifting of the national state of emergency in February 2022 and an agreed ceasefire in March 2022, the AIM-traded company said.
It is aiming for a full project launch in the Ethiopian dry season starting in October 2022, once the security situation has been independently assessed and the few remaining regulatory administrative tasks have been completed.
KEFI is also keen to resume its exploration of the additional prospects it has successfully identified within the Tulu Kapi district exploration
2022-07-13 08:08:00
Tulu Kapi is set to be the first industrial scale mine development in Ethiopia for more than 30 years
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it continued to make progress in Ethiopia and Saudi Arabia in the second quarter following an improvement in the local working environment in both countries since late 2021.
"Work is gathering pace on many fronts,” executive chairman Harry Anagnostaras-Adams said in the gold exploration and development company’s second-quarter operational update.
“We are firmly on track to achieve the following milestones in Q4 2022: in Ethiopia for financial close and the launch of construction of our Tulu Kapi gold project and in Saudi Arabia our larger Hawiah copper-gold project to deliver its PFS [pre-feasibility study].”
During the second quarter, KEFI continued its project launch preparations for Tulu Kapi, set to be the first industrial scale mine development in Ethiopia in over 30 years, and signed an umbrella financing agreement.
READ: Kefi Gold jumps on Tulu Kapi umbrella financing
The security situation has materially improved in Ethiopia since the end of last year, with the end of the civil war in the country's northern regions in December 2021, the lifting of the national state of emergency in February 2022 and an agreed ceasefire in March 2022, the AIM-traded company said.
It is aiming for a full project launch in the Ethiopian dry season starting in October 2022, once the security situation has been independently assessed and the few remaining regulatory administrative tasks have been completed.
KEFI is also keen to resume its exploration of the additional prospects it has successfully identified within the Tulu Kapi district exploration
Progress Report on Aluto-Langano geothermal project
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The progress of Aluto Langano Geothermal project that targets to produce 70 MW power is partly to be undertaken, “As per the plan, eight thermal wells will be drilled and five of them have already been drilled and three of them have concluded production test.”
The wells have a depth from 2,500 to 3000 meters. The production test has shown that a single well has a capacity to produce up to 8 MW, which is unique compared with the experience. “Usually thermals with up to 3,000 meter depth are expected to generate up to three MW but in this case the capacity is very high that shows that the drilling locations are proper areas,”. said Moges Mekonnen, Public Relation Head of EEP
Aluto has had a 7.5 MW production unit which was constructed three decades ago.
Read more
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The progress of Aluto Langano Geothermal project that targets to produce 70 MW power is partly to be undertaken, “As per the plan, eight thermal wells will be drilled and five of them have already been drilled and three of them have concluded production test.”
The wells have a depth from 2,500 to 3000 meters. The production test has shown that a single well has a capacity to produce up to 8 MW, which is unique compared with the experience. “Usually thermals with up to 3,000 meter depth are expected to generate up to three MW but in this case the capacity is very high that shows that the drilling locations are proper areas,”. said Moges Mekonnen, Public Relation Head of EEP
Aluto has had a 7.5 MW production unit which was constructed three decades ago.
Read more
KEFI Gold says on track to start construction of Tulu Kapi project in fourth quarter
2022-07-13 08:08:00
Tulu Kapi is set to be the first industrial scale mine development in Ethiopia for more than 30 years
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it continued to make progress in Ethiopia and Saudi Arabia in the second quarter following an improvement in the local working environment in both countries since late 2021.
"Work is gathering pace on many fronts,” executive chairman Harry Anagnostaras-Adams said in the gold exploration and development company’s second-quarter operational update.
“We are firmly on track to achieve the following milestones in Q4 2022: in Ethiopia for financial close and the launch of construction of our Tulu Kapi gold project and in Saudi Arabia our larger Hawiah copper-gold project to deliver its PFS [pre-feasibility study].”
During the second quarter, KEFI continued its project launch preparations for Tulu Kapi, set to be the first industrial scale mine development in Ethiopia in over 30 years, and signed an umbrella financing agreement.
READ: Kefi Gold jumps on Tulu Kapi umbrella financing
The security situation has materially improved in Ethiopia since the end of last year, with the end of the civil war in the country's northern regions in December 2021, the lifting of the national state of emergency in February 2022 and an agreed ceasefire in March 2022, the AIM-traded company said.
It is aiming for a full project launch in the Ethiopian dry season starting in October 2022, once the security situation has been independently assessed and the few remaining regulatory administrative tasks have been completed.
KEFI is also keen to resume its exploration of the additional prospects it has successfully identified within the Tulu Kapi district exploration
2022-07-13 08:08:00
Tulu Kapi is set to be the first industrial scale mine development in Ethiopia for more than 30 years
KEFI Gold and Copper PLC (AIM:KEFI, OTC:KFFLF) said it continued to make progress in Ethiopia and Saudi Arabia in the second quarter following an improvement in the local working environment in both countries since late 2021.
"Work is gathering pace on many fronts,” executive chairman Harry Anagnostaras-Adams said in the gold exploration and development company’s second-quarter operational update.
“We are firmly on track to achieve the following milestones in Q4 2022: in Ethiopia for financial close and the launch of construction of our Tulu Kapi gold project and in Saudi Arabia our larger Hawiah copper-gold project to deliver its PFS [pre-feasibility study].”
During the second quarter, KEFI continued its project launch preparations for Tulu Kapi, set to be the first industrial scale mine development in Ethiopia in over 30 years, and signed an umbrella financing agreement.
READ: Kefi Gold jumps on Tulu Kapi umbrella financing
The security situation has materially improved in Ethiopia since the end of last year, with the end of the civil war in the country's northern regions in December 2021, the lifting of the national state of emergency in February 2022 and an agreed ceasefire in March 2022, the AIM-traded company said.
It is aiming for a full project launch in the Ethiopian dry season starting in October 2022, once the security situation has been independently assessed and the few remaining regulatory administrative tasks have been completed.
KEFI is also keen to resume its exploration of the additional prospects it has successfully identified within the Tulu Kapi district exploration
Akobo Minerals reaches agreement with experienced underground mining contractor
PUBLISHED: 2022-08-01UTC05:30:00

OSLO, 01 August 2022: Akobo Minerals (Euronext Oslo – “AKOBO”), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has reached an agreement with the South African company IW Mining (Pty) Ltd to operate the underground mine at Segele.
https://akobominerals.com/investors/regulatory-news-alerts/?selectedreport=8D57E4D6D4A7E378
PUBLISHED: 2022-08-01UTC05:30:00

OSLO, 01 August 2022: Akobo Minerals (Euronext Oslo – “AKOBO”), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has reached an agreement with the South African company IW Mining (Pty) Ltd to operate the underground mine at Segele.
https://akobominerals.com/investors/regulatory-news-alerts/?selectedreport=8D57E4D6D4A7E378
Origin and migration of fluoride in the area of the Aluto Volcanic Complex (Main Ethiopian Rift)
Highlights
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Increased fluoride concentrations in ground and surface waters represent a major health issue for the population living in the East African Rift.
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This study investigates water, rock, soil, plant, and gas samples for their fluoride content.
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The fluoride derives mainly from magmatic fluids circulating in permeable fault zones along the rift.
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Some fluoride also derives from water-rock interactions at the surface with especially pumice representing the major source of fluoride.
Akobo Minerals
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Invitation to presentation of second quarter 2022 results, Thursday 25.08 at 10.00 CEST
The company will release its second quarter results on Thursday 25.08. The results will be presented in a webcast with CEO Jørgen Evjen and COO Matt Jackson at 10.00 CEST. The presentation and subsequent Q&A session will be held in English and may be viewed live at Akobo Minerals Q2-22 presentation 25.august - inQrate
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Invitation to presentation of second quarter 2022 results, Thursday 25.08 at 10.00 CEST
The company will release its second quarter results on Thursday 25.08. The results will be presented in a webcast with CEO Jørgen Evjen and COO Matt Jackson at 10.00 CEST. The presentation and subsequent Q&A session will be held in English and may be viewed live at Akobo Minerals Q2-22 presentation 25.august - inQrate
#NewsUpdate | More geothermal power plants planned for Ethiopia
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A United Kingdom company specialising in onshore deep drilling has secured financing to construct two geothermal power stations in Ethiopia.
The projects at Tulu Moye and Hawassa will be Ethiopia’s first independent power stations and will run off geothermal energy harnessed by drilling deep into the volcanic rocks below.
Marriott Drilling Group have raised funding from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund. Marriot has already invested in two new rigs that are being shipped to the East African country.
The funding will provide working capital to support the ongoing operations, which will last for four years and require up to 160 technical staff between the two sites at any one time. The company employs around 300 staff and is currently working on other projects in Ireland, Switzerland, Mozambique, Kenya, Ethiopia and Bolivia. The funding is also expected to create around 18 new jobs at their headquarters in England.
Financial Controller at Marriott Group David Jones said: “The projects at Tulu Moye and Hawassa will be critical in rolling out renewable energy to meet Ethiopia’s growing power needs and we are delighted to be playing our part. However large-scale contracts like these require us to have the right finance in place. The funding from NPIF – Mercia Debt Finance will provide additional capital to support the day-to-day operations on site.”
source
—-
A United Kingdom company specialising in onshore deep drilling has secured financing to construct two geothermal power stations in Ethiopia.
The projects at Tulu Moye and Hawassa will be Ethiopia’s first independent power stations and will run off geothermal energy harnessed by drilling deep into the volcanic rocks below.
Marriott Drilling Group have raised funding from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund. Marriot has already invested in two new rigs that are being shipped to the East African country.
The funding will provide working capital to support the ongoing operations, which will last for four years and require up to 160 technical staff between the two sites at any one time. The company employs around 300 staff and is currently working on other projects in Ireland, Switzerland, Mozambique, Kenya, Ethiopia and Bolivia. The funding is also expected to create around 18 new jobs at their headquarters in England.
Financial Controller at Marriott Group David Jones said: “The projects at Tulu Moye and Hawassa will be critical in rolling out renewable energy to meet Ethiopia’s growing power needs and we are delighted to be playing our part. However large-scale contracts like these require us to have the right finance in place. The funding from NPIF – Mercia Debt Finance will provide additional capital to support the day-to-day operations on site.”
source