KEFI Minerals plc (LON:KEFI) Development of Ethiopian Mining Skill Base

Commenting KEFI’s Executive Chairman, Mr Harry Anagnostaras-Adams, said, “We are delighted to have signed this MOU and to be working with the Ethiopian Government and WASM to both ensure that we have the right skill base available for our Tulu Kapi Gold Project and to be assisting Ethiopia more widely in developing their mining sector.”

KEFI (AIM: KEFI), the gold exploration and development company with projects in the Federal Democratic Republic of Ethiopia and the Kingdom of Saudi Arabia, is pleased to announce that the Company’s Tulu Kapi Gold Project (the “Project”) subsidiary, Tulu Kapi Gold Mines Share Company (“TKGM”) has signed a Memorandum of Understanding (“MOU”) with the Ministry of Mines and Petroleum of The Federal Democratic Republic of Ethiopia, together with the Western Australia School of Mines, Curtin University (“WASM”), to develop and enhance the mining skill base in Ethiopia. The MOU was signed earlier today at an event hosted by the Ethiopian Minister for Mines and Petroleum, Dr Samuel Urkato and attended by other dignitaries, including the Australian Ambassador to Ethiopia, His Excellency Mr Peter Doyle.

The MOU is intended to provide a framework to assist with providing the necessary skill base to support and assist TKGM with the development and operation of the Project, the first first modern minerals mining industrial-scale operation in Ethiopia for some decades, together with developing world-class mining competencies in Ethiopia. WASM will be responsible for designing tailor-made training materials and assessment mechanisms to ensure the appropriate competencies are available. TKGM’s commitments are already scheduled and budgeted within the Project plans for its own personnel and those of its principal contractors, Lycopodium and Perenti/Ausdrill, both of whom are based in Western Australia and have operated in Africa for over twenty years. The TKGM consortium is committed to maximising local employment and the local flow-on benefits of the Project.

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