Ghana’s mining industry has received a significant uplift following a landmark gold offtake deal between Heath Goldfields Ltd. and global commodities giant Trafigura, with the agreement valued at up to $2.8 billion.
Under the terms of the deal, Trafigura will purchase 700,000 ounces of gold doré from the Bogoso-Prestea mine. Supported by $65 million in debt financing, the arrangement is expected to fast-track the mine’s recovery and strengthen Ghana’s standing as a top gold producer on the continent.
Based on current market prices of around $3,300 per ounce, the transaction is estimated at approximately $2.3 billion, potentially increasing to $2.8 billion if prices climb to $4,000 per ounce a level some analysts view as achievable in the medium term due to strong global demand.
The Bogoso-Prestea mine, which has produced more than 9 million ounces since 1912, had remained dormant for several years before being acquired by Heath Goldfields. Operations have now resumed, with the company recording its first gold pour in February 2026.
Since restarting activities, Heath Goldfields says it has exceeded its capital benchmarks, created over 1,400 jobs, and worked with more than 15 local contractors, reflecting wider economic benefits beyond mining output.
Managing Director Patrick Appiah Mensah described the deal as a turning point, noting that it demonstrates confidence in Ghana’s mining sector and the capacity of a local operator to perform at scale.
Trafigura also highlighted the mine’s strengths, with its Head of Metals and Minerals, Gonzalo De Olazabal, pointing to its operational efficiency and adherence to standards as key factors behind the investment.
This agreement represents Trafigura’s first gold deal in Ghana and just its second across Africa, reflecting growing global interest in the region’s mineral wealth.
Arranged by Verdant IMAP with legal advisory from Sullivan and JLD & MB Legal Consultancy, the transaction is set to boost Bogoso-Prestea’s contribution to Ghana’s gold production while showcasing the rising role of indigenous mining companies.