KEFI Minerals plc (LON:KEFI) saw its shares jump nearly 10% higher on Tuesday after the firm said it was pleased to note that the Ethiopian Parliament today lifted the official State of Emergency in the country, two months ahead of schedule.
The gold exploration and development company, with projects in the Kingdom of Saudi Arabia as well as the Federal Democratic Republic of Ethiopia, confirmed that throughout the State of Emergency day-to-day operations at its Tulu Kapi gold mine were unaffected.
READ: KEFI Minerals welcomes appointments of new State Ministers in Ethiopia as it develops Tulu Kapi Gold Project
The State of Emergency had been introduced as a precautionary measure in February 2018, after the resignation of the country’s previous prime minister, to facilitate a transition to a new leadership, which KEFI said has since occurred smoothly.
The group said: “Throughout this process the Company has remained in a constant and productive dialogue with the relevant new and existing Ethiopian governmental and ministerial officials and has seen whole hearted support for the Company's Tulu Kapi flagship project, in which the Government of Ethiopia has already committed to take a direct stake, as previously disclosed.”
In early afternoon trading, KEFI shares were 9.8% higher at 2.80p.