KEFI Gold, Copper Exec. Chair Sees Ethiopia’s Potential to Be Among Top Global Mineral Suppliers

Addis Ababa, November 19, 2025 (ENA) - Ethiopia has the potential to become one of the top 10 mineral supplier in the world, KEFI Gold and Copper PLC's, a gold and copper exploration and development company active in the Arabian-Nubian Shield across Ethiopia and Saudi Arabia, Executive Chairman Harry Anagnostaras-Adams said.

The Executive Chairman has recently confirmed that the full development of its high-grade, high-recovery Tulu Kapi Gold Project (TKGM) in Ethiopia is on track to be fully developed by the end of 2025.

In an exclusive interview with ENA, Anagnostaras-Adams said “it is clear that Ethiopia has the potential to become a top 10 mineral supplier in the world”, emphasizing the additional advantages granted by the Grand Ethiopian Renaissance Dam (GERD), which provides the country with “the lowest cost greenest electricity in the world.”

Drawing parallels between Ethiopia's geological landscape and that of Australia, he noted that Ethiopia has the capacity to produce tens of billions of dollars in mineral exports each year.

“The world is hungry for processed minerals, and Ethiopia has the opportunity to transform its mineral resources into finished products,” the Executive Chairman elaborated.

Acknowledging the challenges of mining, Anagnostaras-Adams pointed out that Ethiopia has a backlog of development projects that have yet to be realized.

“In the next five years, Ethiopia can significantly ramp up mineral production, especially with ongoing projects like Tulu Kapi Gold Mine,” he added. 

According to the Executive Chairman, Ethiopia, with the right strategies and practices in place, cannot only foster growth in mineral production but also solidify its position as a key player in the global mineral market.

The Norway-based gold exploration and mining company, Akobo Minerals AB and Etno Mining PLC. CEO, Jorgen Evjen, on his part highlighted the progress and future of mining in the Ethiopia.

The CEO, who has been involved in the Ethiopian gold mining project for 15 years, emphasized the significant advancement of his company in the past five years.

“We have transitioned from exploration to production, opening the first new international mine in Ethiopia since 1993,” he said.

Located in Gambella region, the mine is now producing gold and generating income, it was learned.

“With recent economic reforms taking shape, we are receiving substantial support from various government entities, including the National Bank and Ethiopian investment holdings,” Evjen stated. This newfound backing signifies a positive development trajectory for the sector.

The CEO stressed the importance of establishing sustainable practices and partnerships to build a resilient mining industry, emphasizing the need for careful planning and strategic collaboration for continued growth.

“Our vision is to become a leading mining company in Ethiopia,” he added, explaining that his company is looking to expand its operations not only in gold but also into critical minerals, and is actively seeking partnerships to attract international investment.

Reflecting on the potential for growth, Evjen noted, “If a small company like ours from Norway and Sweden can succeed in building a mine here, then larger companies can also thrive. It’s all about resilience and the willingness to face challenges.”