Global commodities trader Trafigura has entered into a financing and supply agreement to support the revival of Ghana’s Bogoso-Prestea gold mine, committing $65 million in funding alongside a long-term gold offtake arrangement.
The deal, announced on Thursday, April 9, 2026, will see Trafigura purchase 700,000 ounces of gold doré from the mine over time while providing capital to its owner, Heath Goldfields.
The funding is designated to restart oxide ore extraction at the site, which has been inactive for approximately two years, as seen on Business Insider Africa.
Bogoso-Prestea, located in south-western Ghana, has produced over 9 million ounces of gold since operations began in 1912. However, the mine has faced recent setbacks tied to operational and regulatory issues.
In September 2024, Ghanaian authorities revoked the license of its former operator, UK-based Blue International Holdings, and its subsidiary, Future Global Resources, citing underinvestment, unpaid obligations, and environmental concerns.
Heath Goldfields, an Accra-based company founded in 2024, took control of the mine in November 2025 following legal proceedings that included a ruling by Ghana’s Supreme Court. Production resumed earlier this year, with the first gold pour recorded in February.
“This agreement… is a defining moment for Heath Goldfields and for the Bogoso-Prestea Mine,” said managing director Patrick Appiah Mensah, describing the transaction as a signal of confidence in the project’s long-term outlook.
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Trafigura also expressed confidence in the asset’s potential. Gonzalo de Olazabal, head of metals and minerals at the firm, said the mine is “a producing asset with a strong operational team”, noting that Trafigura would deploy its trading network to support operations.
Legal advisers involved in the transaction pointed to its structure as a pathway for further investment into resource projects. “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 arrangement reflects a wider pattern in which commodity traders provide upfront financing in exchange for future output, particularly in African markets where access to capital remains limited.
It also comes at a time of increased state involvement in mining, highlighted by Burkina Faso’s 2024 move to nationalise several gold assets.
For Ghana, one of Africa’s leading gold producers, the restart of Bogoso-Prestea will serve as a test of how effectively the country can manage the balance between foreign investment, local ownership, and regulatory control in its mining sector.
What this means for Africa
This deal highlights how alternative financing models are becoming critical for unlocking stalled mining assets across Africa. By linking capital to future production, projects that might otherwise remain idle can return to operation.
It also signals growing competition between governments, local operators, and global traders to shape control and value capture in the continent’s resource sector.
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Image Credit: Business Insider Africa
