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Kefi Minerals said its day-to-day activities in Ethiopia hadn’t been unaffected after the resignation of the country’s Prime Minister sparked political uncertainty last week.
‘Everyone we deal with appears to regard the Prime Minister’s resignation as a sincere step to the facilitation of broader democratic representation in government,’ the company said.
‘The concurrently announced state of emergency appears generally regarded as a preventative measure to ensure peace and order during the leadership transition.’
The company also confirmed that the Ethiopian Ministry of Mines, Petroleum and Natural Gas had signed off on the transfer of a mining licence from Kefi to Tulu Kapi Gold Mines, a joint venture between Kefi and the Ethiopian government.
The joint venture’s board had approved the business plan for a mine development to commence as soon as the regulatory authorities allowed its financing agreements to be finalised and implemented.
‘The company believes its finance plans remain unaffected because it has targeted certain regional financiers (both debt and equity), including some who already have a long-term presence in Ethiopia,’ Kefi said.
SOURCE – 
KEFI Minerals reassures investors amid Ethiopia state of emergency
KEFI Minerals sought to reassure investors on Monday that the resignation of Ethiopia’s Prime Minister, Hailemariam Desalegn, will not have an impact on the company’s activities in the country.
A state of emergency which was set to last six months was imposed in Ethiopia during the week before in response to the resignation, with defence minister Siraj Fegessa saying the country was clamping down on unrest, protests and publications “that could incite and sow discord”.
In a statement, KEFI said that its activities have been unaffected “as regards its daily interface with the various government agencies and with the Community at Tulu Kapi.”
In the meantime, KEFI’s joint project for mine development with Tulu Kapi Gold Mines Shared Company, a firm owned by both KEFI and the government of Ethiopia, was set to commence once regulators had allowed financing arrangements to be finalised and put into effect.
The project was set to create over 1,000 jobs in the Tulu Kapi area.
KEFI Minerals was formed in 2006 with the aim of developing profitable gold and base metal mines in a cost-effective manner and was currently developing projects in Ethiopia and Saudi Arabia.
As of 1634 GMT, KEFI Minerals’ shares were down 7.25% to 3.20p.
SOURCE – Web Finanicial Group