Heath Goldfields Ltd. has announced a major offtake agreement with Trafigura Pte Ltd for the purchase of 700,000 ounces of gold doré from the Bogoso-Prestea mine in Ghana’s Western Region, in a move expected to accelerate the mine’s full-scale revival.
At current gold prices of approximately USD 3,300 per ounce, the agreement is valued at over USD 2.3 billion. At a benchmark price of USD 4,000 per ounce, the deal is projected to reach an estimated USD 2.8 billion in committed offtake value.
As part of the agreement, Trafigura will also provide USD 65 million in debt financing to support the restart of oxide ore operations at the mine. The company, which operates in more than 150 countries and employs nearly 14,500 people, is undertaking its first gold transaction in Ghana and only its second in Africa.
Describing the development as a significant milestone, Managing Director of Heath Goldfields Ltd., Patrick Appiah Mensah, said the agreement reflects strong confidence in Ghana’s mining sector and in the capacity of indigenous operators to deliver at scale.
READ: Trafigura deal a ‘defining moment’ for Bogoso-Prestea revival – Heath Goldfields MD
Bogoso-Prestea, which has produced more than 9 million ounces of gold since operations began in 1912, had experienced a prolonged shutdown before Heath Goldfields took over and resumed production. The company poured its first gold in February 2026.
Since restarting operations, Heath Goldfields reports that it has exceeded its capital raise targets, created over 1,400 direct and indirect jobs, and engaged more than 15 local contracting firms.
Commenting on the partnership, Gonzalo De Olazaval noted that Bogoso-Prestea is a producing asset with a strong operational team and London Bullion Market Association (LBMA) compliance, adding that Trafigura will leverage its market access and trading expertise to support the operation.
The transaction was structured by Verdant IMAP, with legal advisory support from Sullivan and JLD & MB Legal Consultancy.
The agreement comes at a time of rising global gold prices and growing investor interest in African mining assets, reinforcing Ghana’s position as Africa’s leading gold producer and highlighting the increasing role of local operators in driving the sector forward.
Source: Starrfm.com.gh
