Germany Unveils 563 Million Missile Deal As Air Defense Plans Take Shape
Germany’s decision to approve $563 million for the development and procurement of MBDA’s …
07. November 2025
Mali Gold Project On Track As Toubani Resources Reaffirms Commitment Despite Security Fears
Toubani Resources has reaffirmed its commitment to the Kobada gold project in Mali despite recent media reports highlighting fuel supply restrictions and security concerns in Bamako. The company behind the ambitious project is one of the most significant mining projects in West Africa, with substantial economic benefits that would contribute to the diversification of Mali’s economy.
The project’s success would bring about a significant economic boost to the region, which remains heavily reliant on gold exports. Drilling activities at the Kobada site have continued uninterrupted, with no reported interruptions or disruptions. A second reverse circulation (RC) drill rig is set to arrive at the site in the coming weeks, enhancing the project’s ability to conduct anomaly testing and sterilization programs.
These programs are essential for confirming the presence of infrastructure locations and ensuring that the project is aligned with its geological model. The deployment of the second RC drill rig is a significant development that will enable Toubani Resources to accelerate its exploration efforts and bring the project closer to production. The rig’s arrival is seen as a vote of confidence in the project’s prospects, and it is expected to have a positive impact on the overall project timeline.
Toubani Resources has assured stakeholders that its operations remain unaffected despite recent media reports highlighting concerns about fuel supply restrictions and security in Bamako. The company’s Bamako office continues to function normally, with business activities proceeding as usual. The Kobada Environmental and Social Impact Assessment (ESIA) was recently approved by relevant authorities, which is a significant milestone for the project.
The ESIA assesses the potential environmental and social impacts of the project and provides a framework for mitigation measures to be implemented. Toubani Resources is now progressing with permitting activities, which will enable the company to move forward with project development. The company has also been engaging with stakeholders and relevant authorities to ensure compliance with regulatory requirements and advance project timelines.
Toubani Resources has appointed Ausenco Services as its engineering, procurement, and construction management (EPCM) engineer. This appointment is a significant development that will support the project’s overall development and bring in expertise that will help drive the project forward. Initial engineering work has commenced, and long lead orders have been placed to support ongoing project development.
The company remains committed to delivering a high-quality project that meets its regulatory obligations and environmental standards. The Kobada gold project licence remains in good standing, with discussions between Toubani Resources representatives and Malian authorities under way to complete the necessary investment framework.
Toubani Resources’ 35% shareholder, Eagle Eye Assets (EEA), has expressed its support for the project, stating that it looks forward to supporting ToubaninResources in progressing key project milestones in the near term and finalizing its funding arrangements. EEA’s significant A$70m follow-on equity investment and US$160m gold stream are expected to play a critical role in the project’s development.
Following the completion of the previously announced funding package, which includes a A$242m gold stream agreement with EEA, Toubani Resources will have a cash balance of A$177m prior to the drawdown of any proceeds from the $160m stream. This financial framework will enable the company to meet its project costs and deliver value to its stakeholders.
The Kobada gold project is an exciting development in West Africa’s mining sector, with Toubani Resources’ commitment to delivering a high-quality project reassuring. The company’s focus on transparency, engagement, and compliance with regulatory requirements demonstrates its dedication to responsible mining practices.
As the global demand for gold continues to grow, West African countries are increasingly turning to mining as a key driver of economic growth. The success of the Kobada gold project will not only benefit Toubani Resources but also contribute to the development of Mali’s economy and the regional mining industry as a whole.
Toubani Resources’ continued commitment to the Kobada gold project is unwavering, despite recent challenges in Bamako. Drilling activities continue uninterrupted, with the deployment of the second RC drill rig expected to enhance exploration efforts and accelerate progress towards production. The ESIA approval and permitting activities underway position Toubani Resources to deliver a high-quality project that meets its regulatory obligations and environmental standards.