KEFI Gold and Copper (AIM:KEFI) has suspended development at its Tulu Kapi Gold Project in Ethiopia after a security incident resulted in multiple fatalities.
The incident occurred on 4 September 2026 and involved security personnel and members of the local community. One KEFI employee was among those killed.
As of press time, KEFI has not disclosed the total number of fatalities or further details about the circumstances of the incident, citing the sensitive and ongoing nature of the situation.
“The company is deeply saddened by the loss of life and extends its sincere condolences to all those affected,” KEFI says.
Development activities have been suspended while the company consults community representatives, Ethiopian government authorities, and security stakeholders about the conditions required for work to resume safely.
KEFI says activities will remain suspended until appropriate measures have been established to provide a secure operating environment for its employees, contractors, and surrounding communities.
The company notes is also deferring further drawdown or deployment of project financing while it assesses the situation. KEFI says it has sufficient capital reserves and committed standby facilities to meet its anticipated requirements during the suspension.
Development at Tulu Kapi began in March 2026 and, before the incident, remained on schedule for gold production to begin in mid-2028.
Work completed or underway included construction of an access road, progress on the project’s electricity connection, equipment orders, and phased community resettlement and compensation activities.
According to the company, it is too early to determine whether the suspension will affect the project’s development schedule.
KEFI Gold and Copper is an exploration and development company with gold and copper projects in Ethiopia and Saudi Arabia.
Write to France Pinzon at Mining.com.au
Images: KEFI Gold and Copper
