Heath Goldfields seals $2.3bn deal at Bogoso-Prestea mine
Heath Goldfields Ltd has announced a landmark offtake agreement with Trafigura Pte Ltd, one of the world's largest commodity trading houses, securing the purchase of 700,000 ounces of gold dore from the Bogoso-Prestea Mine in the Western Region.
At today's gold price of approximately $3,300 per ounce, the agreement is worth more than $2.3 billion.
The commitment to Bogoso-Prestea by Trafigura, which operates across more than 150 countries and employs nearly 14,500 people, includes $65 million in accompanying debt financing to restart the mine's oxide ore operations.
"This is not just a commercial milestone; it is a statement of confidence in Ghana's mining sector and in the ability of an indigenous operator to deliver at scale," the Managing Director of Heath Goldfields, Patrick Appiah Mensah, was quoted in a statement as saying.
The transaction was structured by Verdant IMAP, a Pan-African investment bank with deep roots in metals and mining, backed by legal teams from Sullivan in London and JLD & MB Legal Consultancy in Accra — a combination that underscores the cross-border sophistication of the deal.
Breakthrough
But even at the conservative benchmark of $4,000 per ounce, a figure considered the floor for gold's medium-term trajectory, the deal represents an impressive $2.8 billion in committed offtake value.
For a mine that was silent just two years ago, the numbers are staggering.
The Bogoso-Prestea Mine has been producing gold since 1,912, accumulating more than nine million ounces over its lifetime.
The mine went dark during a prolonged shutdown, but Heath Goldfields, a Ghanaian-owned company, stepped in with a vision to bring it back.
The company poured its first gold in February this year.
The company said it had already exceeded its capital raise milestones, created more than 1,400 direct and indirect jobs, and engaged over 15 local contracting firms.
"Bogoso-Prestea is a producing asset with a strong operational team and London Bullion Market Association (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,” the statement said.
New era
For Trafigura, the statement said it marked only its second gold transaction in Africa and its first in Ghana's gold sector.
Ghana has long been one of Africa's largest gold producers, and deals such as this reinforce that position in an era of surging gold prices and intensifying global demand for responsibly sourced precious metals.
The statement added that with gold testing new highs in 2026 and institutional appetite for African mining assets at its strongest in years, the Heath Goldfields-Trafigura agreement may well mark the opening chapter of a new era for Ghana's gold sector, one led, for the first time, by an indigenous operator with the partnerships to match its ambition.
