FG Gold Limited has secured financial close on a US$330 million senior debt facility from the Africa Finance Corporation and Afreximbank, completing a US$430 million financing package for the Baomahun Gold Project in Sierra Leone. This marks one of the country’s most significant mining investments and enables the full development of its first large-scale commercial gold mine. The funding, strengthened by additional capital mobilised through Trafigura Group, unlocks construction and firmly positions Baomahun as a flagship venture for sustainable mineral development in West Africa.
With financing secured, FG Gold is moving ahead with accelerated site development. Executive Chairman Oliver Tunde Andrews stated that the project reflects Africa’s growing ability to execute world-class mining projects through strong technical expertise and collaborative financing. AFC and Afreximbank similarly praised the deal as a milestone for African-led resource development.
Once operational, Baomahun is projected to support up to 900 jobs, contribute nearly 10% of Sierra Leone’s GDP, and drive local content growth. FG Gold’s 1% revenue commitment to community development further anchors its impact, funding schools, healthcare, and infrastructure upgrades.
