Blue Gold Limited, a next-generation gold development and technology company, has announced an additional $65 million in committed funding to restart operations at the Bogoso and Prestea gold mine in Ghana — bringing its total available capital for the project to $140 million.
The latest funding, sourced from a new institutional investor, is structured as a secured loan dedicated exclusively to financing the restart of the 5.1 million-ounce gold asset.
The funds are currently being held in escrow with lawyers, pending the resolution of the ongoing lease dispute between Blue Gold and the Government of Ghana.
Blue Gold Chief Executive Officer, Andrew Cavaghan, said the fresh injection of capital underscores the company’s financial readiness and commitment to reviving one of Ghana’s most historic mining operations.
“This funding, along with the amount that is already committed, clearly evidences our capacity to invest and restart the mine to bring it back into full production,” Cavaghan stated.
He noted that the company’s progress had been disrupted when the previous Ghanaian administration terminated the Bogoso and Prestea mining lease in September 2024, a move Blue Gold has described as unlawful.
“The former Ghana administration took steps to prevent us from investing funds secured for the restart of the mine by wrongfully terminating the lease. We immediately disputed the legality of this action, and the matter is now in international arbitration,” Cavaghan explained.
Despite the ongoing dispute, the CEO expressed confidence that a settlement or resolution would soon be reached, paving the way for the mine’s full revival.
“We are confident to reach a resolution of this dispute, including settlement, to ensure that this important mine is brought back into production as quickly as possible,” he added.
Digital transformation of gold production
The restart of the Bogoso and Prestea mine aligns with Blue Gold’s broader strategic vision to merge traditional gold mining with cutting-edge digital finance.
The company plans to tokenise its gold production, creating what it calls the world’s first global, gold-backed currency.
This innovation will be driven through Blue Gold’s recently launched Digital Division, positioning the company at the forefront of technology-driven transformation in the mining sector.
A new era in responsible mining
Blue Gold describes itself as a next-generation gold development company focused on acquiring and aggregating high-potential mining assets across strategic jurisdictions.
Its mission, the company says, is to unlock untapped value in the gold sector by combining disciplined resource acquisition with innovative monetisation models, including asset-backed digital instruments.
The company emphasises responsible development, transparency, and sustainability, promising to minimise environmental impacts while delivering value for shareholders.
“We believe that our commitment to responsible mining will enable us to create value for our shareholders while minimising our environmental footprint,” the company said in a statement.
Ongoing arbitration and outlook
The Bogoso and Prestea dispute, which is currently before an international arbitral tribunal, remains a key determinant of the project’s next steps.
Blue Gold has pledged to maintain transparency throughout the arbitration and restart process, reaffirming its commitment to rebuilding trust with Ghanaian stakeholders and contributing to the country’s mining revival.
