Fasken advised Africa Finance Corporation (AFC) on the US$55 million mezzanine facility agreement with FG Gold Limited (FG Gold) to advance the construction and development of the Baomahun Gold Project in Sierra Leone. The financing under this facility agreement follows on from the US $45 million gold stream facility made by AFC to FG Gold in 2022 where AFC was also advised by Fasken. The funding of the Baomahun Gold Project is expected to be completed with a multi-sourced financing to be provided by various development and commercial lenders, to be arranged by AFC.
This transaction represents a significant milestone as the project is poised to become Sierra Leone’s inaugural large-scale commercial gold mine. Upon completion, it is projected to contribute approximately 10% to Sierra Leone’s GDP and generate 900 direct and indirect job opportunities within the country.
Fasken advised AFC, with a team led by Abayomi Akinjide, Thomas Wexler and included Danuta de Vries, Brandon Geraghty and Ramona Ramos (Paralegal).
Jurisdiction
- United Kingdom
