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07. November 2025
Blue Gold Secures Major Funding Boost To Restart Ghanas Largest Gold Mine
Blue Gold Secures $140 Million to Restart Bogoso and Prestea Gold Mine in Ghana
Blue Gold has secured $140 million in committed funding to finance the restart of its 5.1 million-ounce Bogoso and Prestea gold mine in Ghana. The financing comprises a new $65 million secured loan and a previously announced $75 million equity line of credit that remains undrawn.
The funds will be used exclusively to restart the mine, contingent on settling a lease dispute with the Government of Ghana. According to Blue Gold, the company is prepared to drop litigation with the government if the lease issue is resolved immediately. The $65 million secured loan, provided by a new institutional investor, will be used to finance the restart of the mine.
This latest funding milestone marks a significant turning point for Blue Gold, which has been working towards restarting the mine since 2022. The company’s efforts have been hindered by the lease dispute, which was initiated by the former Ghana administration in September 2024. Blue Gold disputed the legality of this action and is currently engaged in international arbitration.
The company’s strategy to tokenise its gold production to create a global, gold-backed currency aligns with the restart of the Bogoso and Prestea mine. Operating the mine will help achieve this goal via its recently launched digital division. By restarting the mine, Blue Gold aims to restore its production capacity and provide a boost to Ghana’s economy.
Gold is one of Ghana’s primary exports, accounting for over 90% of the country’s total gold production. The restart of the Bogoso and Prestea mine will help meet the country’s growing demand for gold, both domestically and internationally. The mine has a long history of production, dating back to the 1970s, and has been acquired by Blue Gold through a series of strategic transactions.
The company’s focus on responsible mining practices aligns with the Ghana government’s vision for a more sustainable and environmentally friendly mining sector. The government has implemented various policies and regulations aimed at promoting responsible mining practices, including the introduction of new environmental and social impact assessments. Blue Gold’s commitment to sustainable mining practices is also reflected in its efforts to reduce its carbon footprint.
The company has set ambitious targets to reduce its greenhouse gas emissions, including a goal to achieve net-zero emissions by 2050. This goal aligns with Ghana’s climate change mitigation strategies and demonstrates Blue Gold’s commitment to being a responsible corporate citizen.
Blue Gold’s efforts to restart the mine have been endorsed by various industry stakeholders, including the Ghana Chamber of Mines. The chamber has expressed support for Blue Gold’s commitment to sustainable mining practices and its plans to create value for the local community.
The restart of the Bogoso and Prestea mine will not only help restore Blue Gold’s production capacity but also contribute to Ghana’s efforts to promote sustainable development. As the country continues to navigate the challenges of economic diversification, mining remains an important sector that can drive growth and provide value for the local community.
Ghana’s economy relies heavily on gold exports, and the restart of the Bogoso and Prestea mine will help meet the country’s growing demand for gold. The mine’s production has a significant impact on the local community, providing employment opportunities and contributing to the country’s GDP.
In addition to its economic benefits, the restart of the mine also highlights Blue Gold’s commitment to responsible mining practices. The company’s efforts to reduce its carbon footprint and achieve net-zero emissions by 2050 demonstrate its dedication to being a sustainable and environmentally friendly mining operator.
Blue Gold’s focus on creating value for stakeholders aligns with the government’s vision for a more responsible and environmentally friendly mining sector. The company’s strategy to tokenise its gold production also reflects its commitment to innovation and sustainability in the mining industry.
The restart of the Bogoso and Prestea mine marks an important milestone in Blue Gold’s plans to create a global, gold-backed currency. Operating the mine will help achieve this goal via its recently launched digital division. As Blue Gold prepares to roll out its tokenisation initiative, it is clear that the company is poised to play an important role in shaping the future of gold production and sustainability.
The company’s efforts to restart the mine have significant implications for Ghana’s economy and the mining industry as a whole. The restart of the Bogoso and Prestea mine will provide a boost to the country’s economy, create employment opportunities, and contribute to sustainable development.