Tulu Kapi Gold Project

The Tulu Kapi Gold Project is a major open-pit and underground gold mining development located in the western Wellega Zone of the Oromia region in Ethiopia, approximately 520 km west of Addis Ababa. Developed by KEFI Gold and Copper plc (listed on AIM London), it is Ethiopia's first large-scale commercial gold mine and represents one of the most significant foreign direct investments in the country's mining sector. The project holds a JORC-compliant mineral resource of approximately 1.7 million ounces of gold, with an initial open-pit mine life of over 8 years and substantial underground expansion potential. Tulu Kapi is positioned to establish Ethiopia as a credible destination for international mining investment in East Africa.

1. 01Establish Ethiopia's first internationally-financed, large-scale commercial gold mine to unlock the country's mineral wealth
2. 02Produce approximately 140,000 ounces of gold per year during the initial open-pit phase at competitive all-in sustaining costs
3. 03Create over 1,500 direct jobs during operations and up to 4,000 jobs during construction, with priority given to local communities
4. 04Demonstrate responsible mining practices with comprehensive environmental and social management plans approved by Ethiopian authorities
5. 05Generate significant tax revenue and royalties for the Ethiopian federal and regional governments
6. 06Build local infrastructure including roads, water supply, and power systems that benefit surrounding communities beyond the mine's life

1. 2013 · completed

   KEFI Acquires Tulu Kapi License

   KEFI Minerals (now KEFI Gold and Copper) acquires the Tulu Kapi gold exploration and mining license in the Oromia region of western Ethiopia, following positive exploration results showing significant gold mineralization.

2. 2015 · completed

   Definitive Feasibility Study Completed

   The Definitive Feasibility Study (DFS) confirms Tulu Kapi as a technically and economically robust gold project. The study outlines an 8+ year open-pit mine producing ~140,000 oz/year gold with an initial CAPEX of approximately $265 million.

3. 2017 · completed

   Mining License Granted by Ethiopian Government

   The Ethiopian Ministry of Mines and Petroleum grants the large-scale mining license for Tulu Kapi, a landmark approval that signals Ethiopia's commitment to developing its mining sector with international partners.

4. 2020 · completed

   Community Resettlement Program Begins

   The Resettlement Action Plan (RAP) is approved and implementation begins. Over 1,200 households within the mine footprint are to be relocated to a purpose-built resettlement village with improved housing, water supply, schools, and health facilities.

5. 2023 · completed

   Project Restructured as Government JV

   The project is restructured as a joint venture between KEFI (80% economic interest) and the Ethiopian government. The updated feasibility study shows improved economics with gold price environment. Financing agreements advanced with international lenders.

6. 2025 · in progress

   Construction & Development Phase

   Early works and site preparation underway. Full construction mobilization targeting processing plant build-out, tailings facility, and mine infrastructure. First gold pour anticipated approximately 24 months after full construction commencement.

• Conventional open-pit mining using drill-and-blast with hydraulic excavators and rigid dump trucks
• Carbon-in-leach (CIL) gold processing plant with 1.8 million tonnes per annum throughput capacity
• Gravity separation circuit for coarse gold recovery prior to leaching, improving overall extraction rates
• Tailings storage facility (TSF) designed to international standards with downstream dam construction method
• On-site assay laboratory and geological core-logging facility for ongoing resource definition and grade control
• Grid power connection from Ethiopian national electricity network (hydroelectric), reducing reliance on diesel generators

No articles on this project yet. Subscribe to the newsletter to hear when one is published.

• KEFI Gold and Copper plc (AIM-listed, London) in joint venture with the Ethiopian government