Global commodities trading giant Trafigura Group has signed a landmark offtake agreement with Ghanaian-owned Heath Goldfields Ltd. for 700,000 ounces of gold doré from the Bogoso–Prestea Gold Mine, marking the company’s first foray into Ghana’s gold sector.
Under the agreement announced on Wednesday, Trafigura will also provide US$65 million in debt financing to support the restart of oxide ore operations at the historic mine.
The deal represents Trafigura’s second gold transaction on the African continent, following a debt financing agreement in Sierra Leone in December 2025, and underscores the trading house’s strategic expansion into West Africa’s largest gold producer.
Deliveries of gold doré from the Bogoso–Prestea processing facility are expected to commence later this year. At current market prices of approximately US$3,300 per ounce, the offtake agreement is valued at roughly US$2.3 billion. Should prices reach a projected US$4,000 per ounce—considered by some analysts as a medium-term benchmark amid robust global demand—the value would climb to approximately US$2.8 billion.
Located in Ghana’s Western Region, the Bogoso–Prestea Gold Mine is one of West Africa’s most significant gold operations, having produced more than nine million ounces since 1912. The asset had lain dormant for years before being acquired by Heath Goldfields, which completed the first gold pour at the site in February 2026.
The facility boasts a 1.5 million tonne per annum carbon-in-leach processing plant and is compliant with SK-1300 standards, the United States Securities and Exchange Commission’s mineral resource and reserve reporting requirement.
Gonzalo De Olazaval, Head of Metals and Minerals at Trafigura Group, described the transaction as a major milestone for the company’s presence in Ghana.
“We are pleased to sign this offtake agreement with Heath Goldfields. This is Trafigura’s second gold transaction on the African continent and our first in Ghana’s gold sector—a market where we have long-standing commercial relationships across other commodities,” he said.
“Trafigura has been active across metals and minerals markets in Africa for over two decades, and the continent remains a cornerstone as we continue to expand our precious metals business. 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,” De Olazaval added.
The deal highlights Ghana’s continued attractiveness to international commodity traders despite recent macroeconomic headwinds, while also showcasing the growing role of indigenous ownership in the country’s mining sector. Heath Goldfields combines local ownership, workforce development and Ghanaian entrepreneurship with international best practices in safety, environmental compliance and stakeholder engagement.
Industry analysts expect the transaction to accelerate the mine’s revival and reinforce Ghana’s position as Africa’s leading gold producer. Gold exports accounted for approximately 64 per cent of Ghana’s total export receipts in 2025.
The financing and offtake arrangement provides Heath Goldfields with both the capital and market access needed to scale production, while securing for Trafigura a long-term supply of gold doré from a compliant and operationally robust asset.
