First slide

Business View All


KEFI Minerals seeks Development Bank support in gold mine development project


...

In a bid to accelerate its gold mine development project, British gold exploration and development company KEFI Minerals PLC has applied for a credit facility to the Development Bank of Ethiopia as part of its plans of raising $85 million in loan.

The project that is estimated to cost an estimated $140 million is based in Oromia regional state which occupies the largest part of Ethiopia.

According to the Development Bank of Ethiopia, the loan application is under appraisal.

KEFI said that the total cost of the project is estimated at $140 million adding that it anticipates securing 85 million dollars loan. The company should get a clearance from the National Bank of Ethiopia (NBE) for the proposed debt gearing of 85 million dollars.

The company said it held encouraging dialogue with a number of lenders as possible participants in the syndicate alongside the DBE.

The gold mine, which is under development will have the capacity to produce 28,875kg of gold in the coming ten years.

read more http://africabusinesscommunities.com/news/ethiopia-kefi-minerals-seeks-development-bank-support-in-gold-mine-development-project.html


Article read: 2720

On 09-23-2016

By Kidus Michael


Related articles


advertisment


utnaf ad
FOLLOW US ON THE NET


POPULAR VIDEOS View All

  • Seifu on EBS: አርቲስት አዚዛ አህመድ ከሰይፉ ጋር
    New
    • Share
    • |
    • 1619

    Seifu on EBS: አርቲስት አዚዛ አህመድ ከ...

  • ሰንሰለት - Senselet Drama S02 EP42
    New
    • Share
    • |
    • 1526

    ሰንሰለት - Senselet Drama S02 EP4...

  • ዘመን-ZEMEN Part 107
    New
    • Share
    • |
    • 575

    ዘመን-ZEMEN Part 107...

  • ዘመን - ZEMEN Part 111
    New
    • Share
    • |
    • 388

    ዘመን - ZEMEN Part 111...

  • Senselet Drama S02 EP43
    New
    • Share
    • |
    • 384

    Senselet Drama S02 EP43...

  • ዘመን - ZEMEN Part 112
    New
    • Share
    • |
    • 288

    ዘመን - ZEMEN Part 112...

  • Click Here for Top Videos