Heath Goldfields secures $65m financing, signs 700,000oz gold offtake deal with Trafigura

Heath Goldfields Ltd. has signed a major gold offtake agreement and secured debt financing with global commodities trader Trafigura to support the revival of the Bogoso–Prestea Gold Mine in Ghana’s Western Region.

Under the agreement, Trafigura will purchase up to 700,000 ounces of gold dore produced from the Bogoso–Prestea operation, providing Heath Goldfields with a long-term and market-linked sales channel for its output.

The company also confirmed that Trafigura is providing USD 65 million in debt financing to support the restart of the mine’s oxide ore operations. The transaction is expected to enhance production stability and provide revenue certainty as the company scales up operations.

Heath Goldfields described the deal as a significant milestone in its efforts to revitalise the historic mining asset, noting that the agreement reinforces confidence in Ghana’s mining sector and in indigenous operators.

Managing Director of Heath Goldfields, Patrick Appiah Mensah, said the partnership represents a “defining moment” for both the company and the Bogoso–Prestea Mine. He noted that the offtake commitment from a leading global trading firm validates the company’s operational strategy and long-term prospects.

According to him, the agreement will help accelerate investment, support sustainable job creation, and deliver long-term value to host communities.

Trafigura also highlighted the importance of the transaction, describing it as its first gold deal in Ghana and second on the African continent. The company expressed confidence in the operational strength of the Bogoso–Prestea asset and its compliance with international standards.

Head of Metals and Minerals at Trafigura, Gonzalo de Olazaval, said the firm looks forward to leveraging its trading expertise and market access to support a high-quality, Ghanaian-owned mining operation.

The deal is expected to generate over 1,400 direct and indirect jobs, contributing to local economic development in the Prestea Huni-Valley District.

The transaction was structured by Verdant IMAP as exclusive financial advisor, with Sullivan (London) and JLD & MB Legal Consultancy (Accra) acting as legal advisors to Heath Goldfields.