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KEFI Signs US$400m Tulu Kapi Mining Contract
KEFI Gold and Copper PLC has signed a significant mining services agreement with BCM Group Limited for its Tulu Kapi Gold Project, valued at over US$400 million for the initial nine-year mine life. This contract includes BCM providing the mining fleet, training local operators, and managing full mining operations under KEFI's Ethiopian subsidiary. BCM has already commenced bulk earthworks and drilling, and this agreement allows for the ordering of the necessary Caterpillar fleet to commence full-scale operations. The signing occurred at the Ethio-British Investment Forum, highlighting the project's importance for Ethiopia's private sector and mining industry. Disclaimer*
About this update from Kefi Gold And Copper Plc
18 June 2026 KEFI Gold and Copper plc ("KEFI" or the "Company") KEFI Signs US$400m Tulu Kapi Mining Contract KEFI (AIM: KEFI), the gold and copper exploration and development company with projects in Ethiopia and Saudi Arabia, is pleased to announce that, following the launch of development at the Company's Tulu Kapi Gold Project (the "Project"), tasks continue to be implemented on schedule. To that end, the Company has now signed the Project's largest operational contract, the mining services agreement, with BCM Group Limited ("BCM") for the provision of services valued at more than US$400 million over the initial nine-year mine life. Under the contract, BCM will provide a comprehensive suite of mining services, including the provision of the mining fleet, training and management of locally recruited operators, and full mining operations under the supervision of KEFI's Ethiopian subsidiary, Tulu Kapi Gold Mines Share Company ("TKGM"). The award of this long-term contract follows BCM's recent mobilisation to Ethiopia, where it is already providing bulk earthworks and drilling services for TKGM. The agreement also enables BCM to proceed with the ordering and deployment of the Caterpillar mining fleet required for full-scale mining operations at Tulu Kapi. The contract signing took place in London at the inaugural Ethio-British Investment Forum, in the presence of H.E. Gedion Timothewos Hessebon, Minister of Foreign Affairs of the Federal Democratic Republic of Ethiopia. Paul Coe, Chief Executive Officer of BCM Group, commented: "BCM is a pioneering mining services group, that expanded from Western Australia into West Africa more than thirty years ago. We are proud to support the development of Ethiopia's mining sector alongside KEFI, particularly given our shared experience of successfully establishing mining projects in emerging jurisdictions, including the Middle East." Harry Anagnostaras-Adams, Executive Chairman of KEFI Gold and Copper, commented: "Today's Ethio-British Investment Forum marks an important milestone in the development of Ethiopia's private sector and international investment profile. Mining has already emerged as Ethiopia's leading export-generating sector, yet the industry is only beginning to unlock its vast potential. The signing of this major mining services...
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