Gagan Gupta’s Family Office Invests $120M in Mali’s Second Gold Project Amidst Government Disputes. Lusaka, Zambia — April 18, 2026 — Indian businessman Gagan Gupta’s family office, Eagle Eye Asset Holdings, has sealed a $120 million investment deal to fund the Sanankoro Gold Project in Mali, marking Gupta’s second substantial financial commitment to Mali’s mining sector.
The agreement, reached on April 17, 2026, with Cora Gold Ltd. Comes against the backdrop of persistent disputes between Mali’s military-led government and foreign investors over mining regulations and tax policies.
The Sanankoro project, located in Mali’s southern region, is anticipated to yield an average of 64,000 ounces of gold annually over its initial five years. Mali, Africa’s second-largest gold producer, has been addressing political instability and regulatory challenges that have raised concerns over its appeal as an investment destination for international miners. Despite these challenges, Gupta’s continued investment in Mali’s mining sector is viewed as a vote of confidence in the potential of Mali’s resources.
Under the terms of the agreement, Eagle Eye will provide financial support to Cora Gold through a streaming arrangement, allowing it to purchase approximately 30% of the project’s future gold output at a 20% discount to the market price. Gupta’s business ventures in Africa span across mining, infrastructure, and industrial parks in countries including Sierra Leone, Cameroon, Zambia, and the Republic of Congo, reflecting a diversified and regionally balanced investment strategy.
The Sanankoro Gold Project deal is poised to set a precedent for future investments in Mali, with the project’s success likely to be a bellwether for the country’s attractiveness to international investors as it continues to reform its mining regulations.
As Mali navigates its mining sector reforms, the outcome of the Sanankoro project will be closely scrutinized by both domestic and international stakeholders, potentially shaping the future of mining investments in the country.
*Additional reporting by ImNews | Sources consulted: 4*
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By This original article was produced by the ImNews editorial team
Source: Africa.businessinsider
Source: Adekunle Agbetiloye
