KEFI Minerals updates on Ethiopia and Saudi

(MENAFN- ProactiveInvestors - UK) KEFI Minerals plc (LON:KEFI) continues to have 'encouraging dialogue with a number of potential lenders', the company has reported in an operational update.

KEFI said that plans to develop the Tulu Kapi gold project in Ethiopia remain on track and that there had been 'no slippage' in the current development cost estimate of US$130 mln.

The Ethiopian government is fully on side, and procurement, detailed engineering and contractual documentation are being conducted in parallel with the community resettlement schedule.

Meanwhile, the company has commenced fieldwork studies at the Hawiah project in Saudi Arabia, and a development decision at Jibal Qutman, also in Saudi Arabia, is awaiting the outcome of a government policy review.