Global trader Trafigura locks in $65m to revive Ghana’s Bogoso-Prestea goldmine

Global commodities trader Trafigura has agreed to purchase future gold output from Ghana’s Bogoso-Prestea mine while extending a $65 million financing facility to its owner, Heath Goldfields, in a deal aimed at restarting production at the troubled asset.

• Trafigura has signed a gold offtake agreement with Heath Goldfields, tied to a $65 million financing package.
• The deal covers 700,000 ounces from Ghana’s Bogoso-Prestea mine, which recently resumed operations.
• The asset had faced regulatory and operational setbacks under previous ownership.
• Analysts say the structure highlights growing use of resource-backed financing across Africa’s mining sector.

The agreement, announced on Thursday, April 9, 2026, combines an offtake contract with debt financing. Under the terms, Trafigura will acquire 700,000 ounces of gold doré from the mine, located in south-western Ghana, over the life of the arrangement. The $65 million in funding will be used to resume oxide ore extraction at the site, which has been idle for about two years.

Bogoso-Prestea has produced more than 9 million ounces of gold since operations began in 1912, but has faced recent operational and regulatory challenges. In September 2024, Ghanaian authorities revoked the license of its previous operator, UK-based Blue International Holdings, and its subsidiary, Future Global Resources, following allegations of underinvestment, unpaid obligations, and environmental concerns.

Heath Goldfields, founded in 2024 and headquartered in Accra, acquired the asset in November 2025 after legal disputes, including a ruling by Ghana’s Supreme Court. The company restarted production earlier this year, recording its first gold pour in February.

“This agreement… is a defining moment for Heath Goldfields and for the Bogoso-Prestea Mine,” said managing director Patrick Appiah Mensah, describing Trafigura’s commitment as an endorsement of the project’s long-term prospects.

From Trafigura’s side, head of metals and minerals Gonzalo de Olazabal said the mine is “a producing asset with a strong operational team”, adding that the firm would leverage its trading network to support the Ghanaian-owned operation.

Legal advisers said the structure could help unlock further investment into resource projects in the region.

“The offtake… establishes a reliable long-term revenue stream, strengthening the project’s bankability as production ramps up,” said Robert Parson of Sullivan & Worcester.

The transaction reflects a broader trend of commodity traders providing financing in exchange for future supply, particularly in Africa, where access to capital remains uneven. It also comes amid increasing state intervention in the region’s mining sector, as highlighted by Burkina Faso’s 2024 decision to nationalise several gold assets.

For Ghana, one of Africa’s largest gold producers, the success of the Bogoso-Prestea restart will be closely watched as the country seeks to balance foreign investment, local ownership, and regulatory oversight in its mining industry.