UKCritical Materials & Supply Chain▲
KEFI awards $400m mining contract to BCM for Tulu Kapi project
KEFI Gold and Copper has signed a mining services contract worth more than $400m with BCM Group for its Tulu Kapi Gold Project in Ethiopia. The nine-year agreement covers provision of the mining fleet, training and managing locally recruited operators, and oversight of full mining activities under the supervision of KEFI's Ethiopian subsidiary, Tulu Kapi Gold Mines Share Company. The deal was signed in London during the first Ethio-British Investment Forum, attended by Ethiopia's Minister of Foreign Affairs, Gedion Timothewos Hessebon. BCM had already mobilised in Ethiopia for bulk earthworks and drilling, and the contract now enables it to order and deploy a Caterpillar mining fleet for full-scale operations. The Tulu Kapi project has a probable ore reserve of 1.05 million ounces and total mineral resources of 1.72 million ounces of gold.
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KEFI.LSE · Demand · Positive KEFI awards $400m mining contract to BCM for its Tulu Kapi project, advancing development.
BCM Group · Demand · Positive BCM wins $400m mining services contract for Tulu Kapi, securing long-term revenue.
Tulu Kapi Gold Mines Share Company · Demand · Positive Tulu Kapi Gold Mines, KEFI's subsidiary, signs contract to advance its project.
GOLD · Supply · Positive Tulu Kapi project has 1.05M oz probable ore reserve; contract signals progress toward future gold production, potentially increasing supply.