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Kefi’s inherited $12m claim reduced to $600 000, fights for further reductions

By:  
Creamer Media Senior Deputy Editor
 
LEGAL MATTERS
An inherited claim of $12-million for damages during exploration field activities at the Tulu Kapi gold project, in Ethiopia, between 1998 and 2006 has been reduced to $600 000, Kefi Minerals said on Tuesday. The potential legacy liabilities – for a period which had predated Kefi’s involvement in the project – are expected to be further reduced as Kefi appeals to the Federal Supreme Court in Ethiopia on the basis that it “remains firmly of the belief” that it has no contingent or actual liability, having already settled any obligations when the matter was originally closed by both the regulators and the land occupiers.
 
 
 
 
 

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