Blue Gold restarts operations at Bogoso and Prestea mine — Partners Gerald Group

Blue Gold Bogoso Prestea Limited, the new owner of the Bogoso and Prestea gold mining leases, has restarted operations at the Bogoso and Prestea mine following a period of care and maintenance, since December 2023.

Underground mining activities and dewatering has commenced, and the team are preparing the processing plant for gold pour. 

In parallel, a nine kilometre of access roads has been prepared for the commencement of the tailings lift, which will be completed under the supervision of the engineer of record, Knight Piesold. 

A released issued by the company said; “Over 200 staff resumed work in August and the company will continue to expand the number of workers on site during September and October.

The decision to restart the mine coincides with the conclusion of a strategic partnership and funding  with global metal and mining company, Gerald Group.: 

The release added that, under the terms of the agreement, Gerald will invest in the mine to increase resilience and throughput capacity of the processing plant and the underground operations.

“Gerald Group will act as the of taker of the material and will provide technical support to the leadership team and active involvement in the governance of the company”, it said.

About Blue Gold Holdings Limited

Blue Gold Bogoso Prestea Limited acquired the Bogoso and Prestea gold mining leases from FGR Bogoso Prestea Limited in May 2024. 

FGR Bogoso Prestea Limited will receive a portion of the revenue from Blue Gold to address its creditor obligations.

The Bogoso and Prestea gold mines are among Ghana’s oldest and largest mining concessions, located within the Ashanti gold belt. 

Blue Gold Holdings aims to transform these assets into a multi-generational, low-cost gold producing operation, with an estimated 18-year life of mine based on the 5.1 million ounces of measured and indicated resources outlined in the SK-1300 filing with the SEC.

Gerald Group

Gerald Group is one of the world’s oldest and largest independent commodity trading companies, specialising in the merchaning of non-ferrous, ferrous, and precious metals, along with related concentrates and raw materials. 

With a distinguished track record spanning six decades, Gerald Group is renowned for its expertise in trading refined metals and raw materials globally. 

The company maintains a reputation for being a trusted partner to leading miners, processors, industrial consumers, and major financial institutions.

Headquartered in London with origins in the United States, Gerald Group operates trading hubs in Shanghai, Stamford, and Switzerland. 

The company has 18 offices across 40 countries, including three mines in West and Central Africa, and an annual turnover of $8 billion.