London – Sullivan & Worcester (Sullivan) has advised Heath Goldfields, the Ghanaian mining company revitalising the historic Bogoso–Prestea Gold Mine in Ghana, in signing a landmark gold offtake agreement with Trafigura Pte Ltd, a market leader in the global commodities industry.
Under the terms of the offtake agreement, Trafigura has committed to purchase 700,000 ounces of gold doré from the Bogoso–Prestea operation. The agreement secures a long-term sales channel for Heath Goldfields’ production at competitive market-linked terms and provides revenue certainty as the company scales output from the mine.
This is one of the most significant gold offtake commitments in West Africa in recent years and marks a major milestone in the Bogoso–Prestea revival programme.
Alongside the offtake agreement, Trafigura is providing $65 million in debt financing to support the restart of the mine’s oxide ore operations.
The Sullivan team is led by partner Robert Parson and associate Pedro Leake-Bandeira. The firm worked closely with JLD & MB Legal Consultancy in Accra, which advised on local law matters.
Robert Parson, leading the Sullivan team advising Heath Goldfields comments: “This transaction secures both commercial certainty and operational flexibility for Heath Goldfields. The offtake with Trafigura establishes a reliable long-term revenue stream, strengthening the project’s bankability as production ramps up. The integration of the $65 million financing alongside the offtake required careful structuring to balance lender protections with operational flexibility. This transaction sets a strong precedent for future resource-backed financing in West Africa.”
