FG Gold Limited, a mining company focused on gold exploration and development in West Africa, achieved financial close on a US$430 million funding package for the Baomahun Gold Project, Sierra Leone’s flagship large‑scale commercial gold mine. The financing included a US$330 million Senior Debt Facility provided by Africa Finance Corporation (AFC) and the African Export-Import Bank (Afreximbank), as well as AFC’s prior US$100 million investment in gold streaming and mezzanine commitments. The financing was further strengthened by capital mobilised through Trafigura Group, bringing the total investment by African Development Finance Institutions to US$430 million, which includes Afreximbank’s US$75 million contribution. This transaction represents one of the largest project financing deals in Sierra Leone’s mining sector and marks a transformative step in developing the country’s flagship large‑scale gold mine, supporting Sierra Leone’s ambition to responsibly harness its mineral resources for sustainable economic growth.
We worked closely with AFC, a leading development finance institution, to structure and negotiate a complex financing arrangement that aligned with the project’s long‑term goals while protecting AFC’s strategic interests. Our tailored legal solutions addressed unique challenges in the mining and project finance sectors, including risk mitigation, regulatory compliance, and multi‑party coordination. By providing strategic legal advice and innovative solutions, we ensured AFC’s interests were safeguarded while facilitating a seamless path to financial close. Through this work, we helped AFC maximise investment value and secure long‑term returns, while supporting FG Gold’s ability to advance construction and achieve first gold pour on schedule.
The matter was handled by a multidisciplinary team of lawyers led by Abayomi Akinjide and Andrew Gabrielson, and included Thomas Wexler, Pierre Swart, Danuta de Vries, and Faheema Rahim who have extensive experience in mining, project finance, and international development.
Jurisdiction
- London
