\n The family office of Indian tycoon Gagan Gupta has agreed to fund a second gold mine in Mali, strengthening its exposure to West Africa\u2019s mining sector despite ongoing tensions between the government and foreign investors.\n <\/p>\n
\n Eagle Eye Asset Holdings has signed a $120 million agreement with Cora Gold to support the development of the Sanankoro gold project in southern Mali, Bloomberg reported. The Singapore-based firm is already backing another nearby project being developed by Toubani Resources.\n <\/p>\n
\n The move signals continued confidence in Mali\u2019s mining sector, even as the military-led government has spent recent years in disputes with international operators over taxes, royalties, and ownership terms. The country, Africa\u2019s second-largest gold producer, has sought to increase state revenue from mining through tighter regulations and revised fiscal frameworks.\n <\/p>\n
Mining sector tensions<\/p>\n
\n Several miners, including Resolute Mining and B2Gold, have remained operational after reaching settlements with authorities. However, tensions escalated sharply with Barrick Mining, which temporarily lost control of its major Loulo-Gounkoto complex last year amid a prolonged dispute with the government.\n <\/p>\n
\n Gupta, founder and chief executive of Arise Integrated Industrial Platforms, has expanded his footprint across Africa\u2019s resource sector, with investments spanning mining, infrastructure, and industrial parks in more than a dozen countries. His portfolio includes projects in Sierra Leone, Cameroon, Zambia, and the Republic of Congo.\n <\/p>\n
\n Under the agreement, Eagle Eye will finance Sanankoro through a streaming arrangement, granting it rights to purchase around 30% of future gold output at 20% of the prevailing spot price, according to Cora Gold. The deal is expected to accelerate development once permits are secured.\n <\/p>\n
\n The investment follows Eagle Eye\u2019s earlier commitment in October to finance Toubani Resources\u2019 $216 million Kobada project, which is targeting annual production of 162,000 ounces once operational.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The family office of Indian tycoon Gagan Gupta has agreed to fund a second gold mine in Mali,…\n","protected":false},"author":2,"featured_media":616801,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99],"class_list":{"0":"post-616800","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-au","9":"tag-australia","10":"tag-business"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/616800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=616800"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/616800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/616801"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=616800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=616800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=616800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}