Toubani Secures Key Mali Pact to Unlock Kobada Gold Project
Toubani Resources has formalised a binding agreement with the Mali government, clearing the way for development of the Kobada Gold Project with a capped 35% state interest and regulatory certainty.
- Binding agreement signed with Mali government for Kobada Project
- State interest capped at 35% in the project
- Mining licence transferred to Mines de Kobada SA
- Project governed under 2023 Mali Mining Code
- Development works authorised, supporting prior feasibility study
A Milestone Agreement
Toubani Resources Limited (ASX – TRE) has taken a significant step forward in advancing its Kobada Gold Project in Mali by executing a binding agreement with the Malian government. This formal pact not only cements the framework for the project's development and governance but also marks the official transfer of the mining licence to Mines de Kobada SA, the exploitation company tasked with bringing the project to life.
The agreement, approved by Mali’s Council of Ministers on 28 January 2026, confirms that the State will hold a capped 35% interest in the project. This arrangement balances government participation with investor interests, providing a clear and stable ownership structure that is crucial for attracting further investment and operational certainty.
Regulatory Certainty and Development Green Light
Importantly, the agreement affirms that the Kobada Gold Project will be governed under Mali’s 2023 Mining Code, a modern regulatory framework designed to support sustainable mining development. The State’s commitment to authorise the commencement of development works signals a green light for Toubani to move beyond planning and into execution.
This regulatory clarity and government backing underpin the updated feasibility study released by Toubani in March 2025, which outlines the project's economic and technical viability. With these milestones achieved, the company is well-positioned to advance towards production, potentially unlocking significant value for shareholders.
Collaborative Approach and Future Prospects
Toubani’s constructive engagement with the Malian government reflects a collaborative approach to resource development in Africa, where partnerships with host nations are critical. The involvement of senior executives, including Mohamed Diarra, in signing the agreement alongside Mali’s Ministers of Mines and Finance, highlights the high-level commitment on both sides.
Looking ahead, the focus will shift to the practical aspects of project development, including financing, construction timelines, and operational readiness. While the agreement provides a solid foundation, the pace and scale of development will depend on how these factors unfold amid the broader economic and political landscape in Mali.
Bottom Line?
With regulatory and ownership frameworks secured, Toubani’s Kobada project is poised to transition from promise to production.
Questions in the middle?
- What is the detailed timeline for commencement and completion of development works?
- How will the capped 35% state interest influence project financing and profit sharing?
- What risks remain regarding political or regulatory changes in Mali that could impact the project?
