FG Gold has achieved financial close and the first drawdown on its US$330 million senior debt financing with Africa Finance Corporation ( AFC ) and the African Export-Import Bank ( Afreximbank ), for its Baomahun Gold Project in Sierra Leone.

The financing for the large-scale commercial gold mine represents one of the most significant project financing deals in the country’s history and supports Sierra Leone’s ambition to harness its mineral resources for economic transformation.

The transaction was further strengthened by capital mobilized through Trafigura Group.

“We are pleased to support Sierra Leone’s first large-scale commercial gold mine in partnership with AFC and Afreximbank,“ comments Gonzalo De Olazaval, global head of metals and mineral at Trafigura. “Our participation in this debt facility underscores our growing footprint in gold markets, complemented by the global reach and scale of our broader metals business.”

The senior facility completes the financing package required to construct and develop the Baomahun Gold Project, complementing AFC’s initial US$100 million investment in gold streaming and mezzanine commitments.

This brings the total investment by leading African development finance institutions to US$430 million, including Afreximbank’s contribution of US$75 million. The financing secures the full development pathway for Baomahun, enabling FG Gold to accelerate the construction of core infrastructure and maintain its momentum towards first gold pour.

“This achievement marks a new chapter not only for FG Gold but for Sierra Leone,” says FG Gold founder and executive chairman Oliver Tunde Andrews. “The Baomahun Project demonstrates that Africa has the capacity – not just in resources, but in financing sophistication, technical capability, and institutional collaboration – to develop large-scale, globally competitive mining assets. The anchor investment provided by AFC was instrumental in crowding in additional financiers and establishing the confidence needed to mobilize further capital for the project.”

George Elombi, president and board chairman of Afreximbank, adds: “Our financing reflects a commitment to supporting value creation within Africa by enabling sovereigns and private developers to harness their natural resources for domestic wealth creation and inclusive growth and development.”

The Baomahun Gold Project is being developed through the leadership of Boxmoor Au and the Africa Minerals and Metals Processing Platform ( A2MP ), supported by a predominantly African team and leading industry partners, including Lycopodium ( EPCM ), Knight Piésold, CrossBoundary Energy, and Komatsu/PanAfrican Equipment.