Plant capacity expansion beckons

In its quarterly update, released today, KEFI announced that its funding partner, Oryx, is actively implementing finance closing (scheduled this quarter) and has also agreed to expand its proposed finance facility for Tulu Kapi from US$135m to US$140m to allow an increase in ore processing capacity from 1.5-1.7Mtpa to 1.9-2.1Mtpa (depending on ore hardness). This will take plant capacity back to that proposed in Nyota’s 2012 definitive feasibility study – albeit at a reduced capital cost.