US$2.3billion offtake: Trafigura signs 700,000-ounce gold agreement with Ghanaian-owned Heath Goldfields
Global commodities trading giant Trafigura Group has entered Ghana’s gold sector for the first time, signing an offtake agreement with Heath Goldfields Ltd. for 700,000 ounces of gold doré from the Bogoso–Prestea Gold Mine and providing US$65 million in debt financing to restart oxide ore operations.
The agreement, announced on April 9, 2026, marks Trafigura’s second gold transaction on the African continent, following a debt financing deal in Sierra Leone in December 2025. It also signals the continued expansion of the trading house’s precious metals business into West Africa’s largest gold producer.
Under the terms of the deal, Trafigura will act as offtaker for gold doré produced at the Bogoso–Prestea processing facility, with deliveries expected to commence later this year. At current market estimates of approximately US$3,300 per ounce, the offtake agreement is worth roughly US$2.3 billion. At a projected US$4,000 per ounce – a level some analysts consider a medium-term benchmark amid strong global demand for gold – the value would rise to approximately US$2.8 billion.
The Bogoso–Prestea Gold Mine, located in Ghana’s Western Region, is one of West Africa’s most significant gold operations, having produced more than 9 million ounces since 1912. The asset had been inactive for years before its acquisition by Heath Goldfields, a Ghanaian-owned mining company.
Heath Goldfields completed the first gold pour at the site in February 2026, marking the restart of production after two years of dormancy. The facility features a 1.5 million tonne per annum carbon-in-leach processing plant and is compliant with SK-1300 standards, the United States Securities and Exchange Commission’s mineral resource and reserve reporting standard.
Gonzalo De Olazaval, Head of Metals and Minerals at Trafigura Group, said the transaction represents a significant milestone for the company’s presence in Ghana.
"We are pleased to sign this offtake agreement with Heath Goldfields. This is Trafigura’s second gold transaction on the African continent and our first in Ghana’s gold sector – a market where we have long-standing commercial relationships across other commodities," he said.
"Trafigura has been active across metals and minerals markets in Africa for over two decades, and the continent remains a cornerstone as we continue to expand our precious metals business. Bogoso–Prestea is a producing asset with a strong operational team and LBMA compliance, and we look forward to applying our physical trading expertise and market access in support of a Ghanaian-owned operation of this quality," De Olazaval added.
The deal underscores Ghana’s continued attractiveness to international commodity traders despite recent macroeconomic challenges. It also highlights the growing role of indigenous ownership in the country’s mining sector, with Heath Goldfields positioning the asset as a modern, globally competitive operation.
Heath Goldfields combines local ownership, workforce development and Ghanaian entrepreneurship with international best practices in safety, environmental compliance and stakeholder engagement.
The transaction is expected to accelerate the mine’s revival and reinforce Ghana’s position as a leading gold producer in Africa. Ghana remains the continent’s largest gold producer, with gold exports accounting for approximately 64 per cent of total export receipts in 2025.
The financing and offtake arrangement provide Heath Goldfields with both the capital and market access needed to scale production, while Trafigura secures a long-term supply of gold doré from a compliant and operationally robust asset.