Blue Gold Bogoso Prestea Limited has announced the successful restart of operations at the Bogoso and Prestea gold mines, following a period of care and maintenance that began in December 2023.
The company has resumed underground mining and dewatering activities, and is currently preparing its processing plant for gold production.
Additionally, Blue Gold has completed the preparation of 9 kilometers of access roads in advance of the upcoming tailings lift project, which will be overseen by Knight Piesold, the appointed engineering firm.
More than 200 staff members have returned to work as of August, with further expansion of the workforce planned for September and October.
The resumption of mining operations aligns with Blue Gold’s new strategic partnership with Gerald Group, a global metal and mining company with an impressive $8 billion turnover.
The Bogoso and Prestea gold mines, situated in Ghana’s historic Ashanti gold belt, are among the country’s oldest and largest mining concessions. Blue Gold Holdings is dedicated to transforming these assets into a multi-generational, low-cost gold production operation.
With an estimated 18-year mine life, the project is supported by 5.1 million ounces of measured and indicated resources, as detailed in the SK-1300 filing with the SEC.
Under the terms of this partnership, Gerald Group will invest in the Bogoso and Prestea mines to enhance the resilience and capacity of both the processing plant and underground operations.
Gerald Group is one of the world’s oldest and largest independent commodity trading companies which specializes in the merchandising of non-ferrous, ferrous, and precious metals, along with related concentrates and raw materials
In addition to its investment, Gerald Group will serve as the offtaker for the mined materials and provide essential technical support to Blue Gold’s leadership team, including active involvement in the company’s governance.
The partnership with Gerald Group is expected to bolster production capabilities and drive future growth, benefiting both the company and the local economy.
