Kefi Minerals, Ethiopia government finalise Tulu Kapi resettlement plan

Shares in Kefi Minerals are up almost 16% as it confirmed the company and the Ethiopia government had finalised the Tulu Kapi community resettlement plan.

"Tasks include property survey and data updates plus new lands site preparations," said Kefi in a statement.

"Tulu Kapi is an important project, not just for KEFI but for the district, region and for Ethiopia as a whole," said executive chairman Harry Anagnostaras-Adams.

He said all stakeholders recognised the value-added contribution this project was expected to make, especially to the community and district.

This included training and long-term jobs for over 500 people, a significant local economic multiplier effect and the generation of over $1bn of hard currency exports from initial open pit operations alone.

"With this vital step now taken, we look forward to progressing with the final steps ahead before commencing construction."

At 10:48 BST, shares in AIM-listed Kefi Minerals were up 15.79% to 5.5p each.