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🇪🇹 Ethiopia Eyes Gold Powerhouse Status with $340 M Mine
Ethiopia is taking major steps to transform from a minor gold producer into a leading African mining nation after securing investment for its largest modern gold project.
• Ethiopia secured $340 million in financing to develop the Tulu Kapi gold project.
• Funding includes $240 M in long-term debt and $100 M equity for full construction.
• Tulu Kapi is expected to produce ~164,000 oz of gold annually once operational.
• Commercial production is targeted for 2027, boosting foreign-currency revenue.
With modern finance in place and construction underway, Ethiopia’s push into large-scale gold mining could significantly boost exports, create jobs, and attract further investment — reshaping its economic landscape.
#Ethiopia #AfricaMarkets #TuluKapi #ForeignInvestment #MiningBoom
$PAXG
Ethiopia is taking major steps to transform from a minor gold producer into a leading African mining nation after securing investment for its largest modern gold project.
• Ethiopia secured $340 million in financing to develop the Tulu Kapi gold project.
• Funding includes $240 M in long-term debt and $100 M equity for full construction.
• Tulu Kapi is expected to produce ~164,000 oz of gold annually once operational.
• Commercial production is targeted for 2027, boosting foreign-currency revenue.
With modern finance in place and construction underway, Ethiopia’s push into large-scale gold mining could significantly boost exports, create jobs, and attract further investment — reshaping its economic landscape.
#Ethiopia #AfricaMarkets #TuluKapi #ForeignInvestment #MiningBoom
$PAXG
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