Blue Gold Limited, a next-generation gold development and technology company, has announced it has secured a total of US$140 million in committed capital to restart operations at the Blue Gold and Prestea gold mines in Ghana.
The company disclosed that the latest US$65 million secured loan from a new institutional investor complements an earlier US$75 million equity line of credit, bringing total available funding for the mine’s restart to US$140 million.
The funds, currently held in escrow, are designated solely for financing the resumption of operations at the 5.1-million-ounce gold project, pending the resolution of a lease dispute with the Government of Ghana.
Blue Gold CEO Andrew Cavaghan stated that the company is fully prepared to invest in bringing the mine back to full production once the dispute is resolved.
“This funding, along with the amount already committed, clearly evidences our capacity to invest and restart the mine to bring it back into full production,” Cavaghan stated.
“The former Ghana administration took steps in September 2024 to prevent us from investing funds secured for the restart by wrongfully terminating the Bogoso and Prestea mining lease. We immediately disputed the legality of this action, and the matter is now in international arbitration.”
He added that the company is ready to withdraw litigation if the lease issue is “resolved instantly,” expressing confidence in achieving an amicable settlement that ensures the mine’s swift return to production.
The restart of Bogoso and Prestea forms part of Blue Gold’s broader strategy to tokenize gold production and launch the world’s first global gold-backed digital currency through its new Digital Division.
Blue Gold Limited describes itself as a gold development and technology firm focused on acquiring and optimizing mining assets across strategic jurisdictions.
The company aims to merge traditional gold mining with innovative monetization models, including asset-backed digital instruments, while maintaining a strong commitment to sustainable and transparent operations.
