KEFI secures USD 400 million mining services agreement with BCM Group for Ethiopia gold project

Gold and copper developer KEFI has executed its largest operational agreement for the Tulu Kapi Gold Project, signing a nine-year mining services contract valued at over USD 400 million with BCM Group Limited.

According to official corporate disclosures, mineral exploration and development firm KEFI has formalized a long-term mining services agreement with BCM Group Limited for its flagship Tulu Kapi Gold Project in Ethiopia. Valued at more than USD 400 million over an initial nine-year operational timeline, the contract represents the largest operational commitment for the mining site to date.

KEFI is an AIM-listed mining and exploration company that develops industrial-scale gold and copper assets across East Africa and the Middle East. Under the terms of the agreement, BCM Group will handle comprehensive extraction operations, manage and train local personnel, deploy specialized equipment fleets, and execute bulk earthworks under the oversight of KEFI's regional subsidiary.

This development marks a significant transition for Ethiopia's nascent commercial mining sector, transitioning a major sovereign asset from exploratory modeling into full-scale physical infrastructure development. The rollout directly impacts localized heavy equipment suppliers, specialized engineering consultants, and mining logistics operators throughout East Africa.

For global resource investors and institutional financiers, this milestone demonstrates a stabilizing regulatory climate for foreign direct investment in East Africa's extractive industries, establishing an operational blueprint for navigating regional supply chains while securing long-term gold production capacity amid ongoing global macroeconomic uncertainties.