Heath Goldfields Ltd. has announced a landmark offtake agreement with Trafigura Pte Ltd., one of the world’s largest commodity trading houses, for the purchase of 700,000 ounces of gold doré from the Bogoso-Prestea mine in Ghana’s Western Region.
At a current gold price of about $3,300 per ounce, the agreement is valued at more than $2.3 billion. At a benchmark price of $4,000 per ounce—considered by some analysts as a medium-term floor—the deal could reach approximately $2.8 billion in committed offtake value. The scale of the agreement is significant for a mine that was inactive just two years ago.
Trafigura, which operates in over 150 countries and employs nearly 14,500 people, is also providing $65 million in debt financing to support the restart of oxide ore operations at the mine. Its involvement is being viewed as a strong endorsement of both the project and Ghana’s mining sector.
“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,” said Patrick Appiah Mensah, Managing Director of Heath Goldfields.
Bogoso-Prestea, which has been in operation since 1912 and produced more than 9 million ounces of gold over its lifetime, was shut down for an extended period before Heath Goldfields moved to revive it. The company poured its first gold in February 2026.
Since then, Heath Goldfields says it has exceeded its capital raise targets, 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 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.”
— Gonzalo De Olazaval, Head of Metals and Minerals, Trafigura Group
The deal marks Trafigura’s second gold transaction in Africa and its first in Ghana, signalling increased interest from global commodity firms in the country’s gold sector. Ghana remains Africa’s largest gold producer, and the agreement reinforces its position amid rising global demand for precious metals.
The transaction was structured by Verdant IMAP, with legal support from Sullivan in London and JLD & MB Legal Consultancy in Accra, reflecting the cross-border nature of the deal.
The agreement is expected to support the continued revival of Bogoso-Prestea and strengthen the role of indigenous companies in Ghana’s large-scale mining industry.
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