KEFI Minerals eyes Ethiopian and Saudi Arabian expansions

Exploration and development firm KEFI Minerals announced on Monday that it had assembled applications for more than 1,000 square kilometres of strategically selected copper and gold tenements in Africa and the Middle East.

KEFI said the principal site chosen was located nearby its Tulu Kapi development project in Ethiopia, with an additional similarly sized location picked out by the company's Hawiah exploration project in Sausi Arabia, of which it owns 40% stake.

The Aim-quoted firm also noted that it been invited to present at the Investing in African Mining Indaba conference in South Africa as part of its base metals session.

As of 1145 GMT, shares had declined 3.79% to 3.55p.