KEFI Gold and Copper plc, a company engaged in mining exploration within the Arabian-Nubian Shield, announced that its Ethiopian subsidiary, KEFI Minerals Ethiopia Limited (KME), has been granted an exclusive exploration license for the Konso Critical Metals Area. The Ethiopian Ministry of Mines issued the license, KEFI confirmed.
“This is the first of multiple initiatives we plan to undertake in Ethiopia through KME,” stated KEFI’s Executive Chairman, Harry Anagnostaras-Adams. He noted that their exploration team has assembled a strong pipeline of projects, with the Konso license positioning the company to capitalize on increasing global demand for critical metals.
According to Addis Standard, the Konso Project is located about 635 kilometers southwest of Addis Ababa, near Arba Minch, and spans 22 square kilometers. The project aims to focus on copper and tantalum exploration, building on earlier studies by Vale, a global mining company, and the Ethiopian Geological Survey. These initial assessments revealed zones rich in minerals such as copper, nickel, cobalt, and tantalum.
KEFI stated that it would apply advanced exploration techniques to further develop these findings, emphasizing copper and tantalum due to their importance in technological advancements and electrification. Harry highlighted the project’s potential, comparing its geological characteristics to other significant critical metals projects across East Africa.
In addition to its exploration efforts, KEFI aims to expand its Ethiopian portfolio by forming strategic partnerships and leveraging local and international investment. The company is preparing to deploy its team for mapping, trenching, and geophysical surveys in the Konso area. KEFI also reaffirmed its commitment to listing on the Ethiopian Stock Exchange, a move it believes will enhance access to local funding.
Earlier this year, KEFI began building infrastructure for its Tulu Kapi gold project in Oromia’s West Wollega zone, near Ayra-Gulliso. The project, in which KEFI holds a 95% stake, has been supported by a $320 million financial package for its development.
