https://newsletter.en.creamermedia.com
Africa|Construction|Contractor|Engineering|Gold|Infrastructure|PROJECT|Resources|SECURITY|Services|Testing|Environmental|Drilling|Infrastructure|Operations
Africa|Construction|Contractor|Engineering|Gold|Infrastructure|PROJECT|Resources|SECURITY|Services|Testing|Environmental|Drilling|Infrastructure|Operations
africa|construction|contractor|engineering|gold|infrastructure|project|resources|security|services|testing|environmental|drilling|infrastructure|operations

Toubani on course at Kobada amid reports of Mali disruptions

Toubani MD Phil Russo

Toubani MD Phil Russo

6th November 2025

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

ASX-listed Toubani Resources says operations at its Kobada gold project, in Mali, remain unaffected by recent fuel supply restrictions and security concerns reported in the country’s capital, Bamako.

The company, led by Phil Russo, confirmed on Thursday that drilling activities were continuing as planned, with a second reverse circulation rig expected on site shortly to accelerate anomaly testing and sterilisation programmes ahead of finalising infrastructure locations. Other project-readiness activities were advancing in parallel, while the Bamako office continued to operate normally.

Following approval of the Kobada environmental and social impact assessment last month, Toubani said it was progressing with permitting activities, maintaining close engagement with authorities and stakeholders. The company has appointed Ausenco Services as its engineering, procurement, and construction management contractor, with initial engineering work under way and long-lead orders placed.

Toubani’s licence for the Kobada project remained in good standing, and discussions with Malian authorities on completing the investment framework were advancing, Toubani stated.

Toubani’s 35% shareholder, Eagle Eye Assets (EEA), reaffirmed its support. “Notwithstanding recent press articles, we look forward to supporting Toubani in progressing key project milestones in the near term and finalising its funding arrangements, which includes EEA’s significant A$70-million follow-on equity investment and $160-million gold stream.”

Upon completion of the funding package, Toubani expects to hold A$177-million in cash, before any drawdown from the $160-million gold stream.

Toubani Resources is developing West Africa’s next large gold development project, the oxide-dominant Kobada gold project, led by a team with extensive African project development experience.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Comments

Latest Multimedia

Photo of Martin Creamer
On-The-Air (12/12/2025)
12th December 2025 By: Martin Creamer

Showroom

Aluminium Federation of South Africa
Aluminium Federation of South Africa

The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.

VISIT SHOWROOM 
Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 10 December 2025
Magazine round up | 12 December 2025
12th December 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.229 0.317s - 191pq - 2rq
Subscribe Now