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Ethiopia moves to become Africa's next gold powerhouse with $340 million mine
By Solomon Ekanem
Business Insider, New York
Wednesday, December 31, 2026
Ethiopia's long-delayed Tulu Kapi gold project has reached a major turning point after securing about $340 million in development financing, clearing the way for construction of one of the country's largest modern gold mines.
The funding package includes roughly $240 million in long-term debt from African development lenders and about $100 million in equity, providing KEFI Gold and Copper, the project's developer, with the financial backing needed to move into full-scale construction.
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Blue Lagoon Sells to Ocean Partners Nearly C$1 Million
of Gold and Silver from Dome Mountain's Initial Production
Company Announcement
Tuesday, December 30, 2025
VANCOUVER, British Columbia, Canada -- Blue Lagoon Resources Inc. (CSE: BLLG; OTCQB: BLAGF; FSE: 7BL) has made its first sale of gold and silver to Ocean Partners UK Ltd. from the Dome Mountain mineralized material that was delivered this month to the company's milling partner, Nicola Mining Inc., for processing.
The company expects to receive C$970,000 in connection with this delivery, representing its first sale related to production from Dome Mountain.
The payment represents an advance on the first shipment of approximately 1,000 tonnes of mineralized material delivered to Nicola, as processing has not yet occurred due to scheduled mill maintenance. ...
... For the remainder of the announcement:
https://bluelagoonresources.com/wp-content/uploads/2025/12/Blue-Lagoon-Resources_Dec-30.pdf
KEFI Executive Chairman, Harry Anagnostaras-Adams, commented: "We are delighted that the Tulu Kapi debt offering has now been signed by all the relevant parties. This has triggered further activity at site as part of the launch of full project development and is allowing the remaining equity proposals to be finalised among the assembled local and specialist investors.
"With the gold price at a record high, this is the perfect time to be launching Tulu Kapi."
Early works, including housing, power connections, and road access, have already begun as the project prepares for full buildout.
Located around 360 kilometres west of Addis Ababa, the Tulu Kapi mine is expected to produce about 164,000 ounces of gold per year during its first seven years, with commercial production targeted for 2027. ...
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