KEFI Gold and Copper Announces Conditional Approval for Jibal Qutman Gold Project Development

KEFI Gold and Copper said its joint venture, Gold and Minerals Company Limited, received conditional approval for Stage 1 development of Saudi Arabia’s Jibal Qutman Gold Project, subject to the final granting of a mining license. The project targets a fourth-quarter 2026 start and an estimated US$87 million capital program, with projected recovery of about 258,000 ounces of gold over seven years and a post-tax net present value of US$141 million to US$275 million. KEFI holds a 13% stake and expects to contribute US$10 million to US$12 million over 24 months; the company described the approval as a milestone toward its first producing operation in Saudi Arabia.