Toubani makes final investment decision for Mali project
ASX-listed Toubani Resources’ board has approved a positive final investment decision (FID) for the Kobada gold project, in Mali.
Following the approval, construction activities have now formally started, with the development team in place and contractors already mobilised to site.
With key project milestones achieved, including the finalisation of an investment protocol with the Malian State and the receipt of environmental, resettlement and infrastructure permit approvals, as well as documentation nearing completion for the overall funding package for Kobada, Toubani says it has established clear momentum for the project’s successful development
To date, over 36% of the project capital cost has been committed.
Toubani is targeting first gold production in the third quarter of 2027.
“This is a momentous occasion for Toubani as we take the FID to move forward with building the Kobada gold mine. It represents years of dedication, rigorous planning, and unwavering belief in the quality of our asset and our people, as well as a singular focus on executing our stated strategy.
“Thank you to all who have helped us reach this milestone – our employees, partners, local communities, and shareholders for their continued trust and support. As we enter the construction phase, we do so with confidence and clear purpose: To deliver a great gold mine and become a leading African gold producer,” says Toubani MD Phil Russo.
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