Trafigura signs gold offtake pact with Ghana's Bogoso-Prestea mine
Global commodity trading firm Trafigura said on Thursday it had signed an offtake deal with Heath Goldfields, a Ghana-owned mining company, to buy 700 000 oz of gold dore from the Bogoso–Prestea mine in western Ghana.
"Alongside the offtake, Trafigura is providing $65-million in debt financing to support the restart of the mine's oxide ore operations," Trafigura said in a statement.
Trafigura said that under the agreement it will act as an offtaker for gold dore (a semi-processed gold product) generated at the Bogoso-Prestea processing facility, with deliveries expected to start later this year.
Heath Goldfields completed the first gold pour at the site in February, marking the restart of production after two years, according to the statement.
"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," said Gonzalo De Olazaval, head of metals and minerals at Trafigura.
Trafigura said this marks its first transaction in Ghana's gold sector and the company's second gold deal on the African continent.
