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FG Gold, Africa Finance Corporation (AFC) and Afreximbank Achieve Financial Close on US$330 Million Senior Debt Financing for Baomahun Gold Project

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10 months ago

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FG Gold

FG Gold Limited (“FG Gold”) is pleased to announce that it has achieved financial close and the first drawdown on its US$330 million Senior Debt Financing with Africa Finance Corporation (AFC) (www.AfricaFC.org) and the African Export-Import Bank (Afreximbank), for its Baomahun Gold Project, marking the development of Sierra Leone’s flagship large-scale commercial gold mine. This milestone unlocks one of the most significant project financing deals in the country’s history and supports Sierra Leone’s ambition to responsibly harness its mineral resources for sustainable economic transformation. The transaction was further strengthened by capital mobilised through Trafigura Group.

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 (“DFIs”) to US$430 million, including Afreximbank’s contribution of US$75 million. This landmark financing secures the full development pathway for Baomahun, enabling FG Gold to accelerate construction of core infrastructure and maintain its momentum toward first gold pour.

A transformational milestone for Sierra Leone and African mining

“This achievement marks a new chapter not only for FG Gold but for Sierra Leone,” said Oliver Tunde Andrews, Founder and Executive Chairman of FG Gold. “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. We are delighted with our constructive ongoing collaboration and partnership with the Government of Sierra Leone and the local community, as well as the backing of Africa’s leading DFIs in bringing this transformative project to life.” According to Andrew’s, “The anchor investment provided by AFC was instrumental in crowding in additional financiers and establishing the confidence needed to mobilise further capital for the project.”

AFC and Afreximbank champion African resource development

Samaila Zubairu, President & CEO of Africa Finance Corporation (AFC), commented: “AFC is proud to have led and structured the Baomahun Gold Project, a development that embodies our mission to catalyse sustainable, African-led industrial growth. This transaction demonstrates what can be achieved when African institutions collaborate to unlock the value of our continent’s resources. Baomahun will not only generate long-term economic benefits for Sierra Leone but also establish a benchmark for responsible, world-class mining development across Africa.”

Dr. George Elombi, President and Chairman of the Board of Directors, noted, “Afreximbank is delighted to partner on a project that has economic significance for Sierra Leone and the wider continent. 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 stands as a powerful example of African capability, innovation, and collaboration.”

The anchor investment provided by AFC was instrumental in crowding in additional financiers and establishing the confidence needed to mobilise further capital for the project

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

A project defined by African capability and global standards

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.

Recognised as one of Sierra Leone’s most pioneering mining developments, Baomahun introduces multiple national “firsts” across financing, engineering, power solutions, and community partnership—establishing a scalable model for structuring and delivering high-impact mining projects across Africa.

Driving economic growth and shared prosperity

FG Gold is already a major local employer, with 90% of its workforce comprised of Sierra Leoneans. During operations, the mine is expected to support up to 900 direct and indirect jobs, contribute approximately 10% of national GDP, and stimulate substantial local supply chain growth.

According to the Minister of Mines and Mineral Resources, Sierra Leone, the Honourable Julius D. Mattai, “The Baomahun Gold Project represents a milestone for Sierra Leone’s mining sector and a clear signal of the confidence that respected African institutions place in our investment environment. This financing marks a new era of responsible, community-oriented mineral development. We welcome FG Gold’s commitment to local participation, skills development, and shared prosperity, and we look forward to the transformational impact Baomahun will deliver for generations to come.”

Community development already underway

FG Gold has committed 1% of gross revenues to a Community Development Fund supporting education, healthcare, agriculture, infrastructure, and social enterprise in project-affected communities. Early initiatives include the Baomahun Community Centre, St. Joseph Bakhita Primary School, the renovated Baomahun Health Centre, and upgrades to the 66 km Matotoka–Baomahun access road.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

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Energy

Building a Knowledge Hub for China-ASEAN Energy Cooperation

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September 22, 2026

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ASEAN

NANNING, CHINA – Media OutReach Newswire – 21 September 2026 – During the 23rd China-ASEAN Expo and the China-ASEAN Business and Investment Summit, China Southern Power Grid showcased a range of innovations designed to support energy cooperation between China and ASEAN. These included the DaWatt – Lao Language Large Language Model (LLM) for the Energy and Power Sector V2.0 and the Flexible Grayscale Intelligent Monitoring & Analysis Platform for power system cybersecurity, highlighting expanding opportunities for cooperation in digitalization, intelligent technologies and green energy.

The Lao-language LLM has been deployed at Electricité du Laos Transmission Company Limited (EDL-T), where it can automatically analyze thousands of inspection images within a short period of time. After its algorithms were optimized for Laos’ mountainous and rainforest terrain, the model completed intelligent inspection analysis for four transmission lines, processing 26,000 drone inspection images and identifying more than 3,600 equipment defects.

 




 
 

Liu Ying, general manager of the Digitalization Department at Guangxi Power Grid Co., Ltd., said the company has been building multilingual professional corpora for the power sector, covering ASEAN countries including Laos, Vietnam and Malaysia. Drawing on the capabilities of the DaWatt foundation model, the company is developing energy and power models tailored to ASEAN languages and real-world power industry applications.

Talent development is another focus of the cooperation. The China-ASEAN Institute of Energy, jointly established by Guangxi Power Grid Co., Ltd. and Guangxi University, is exploring an industry-university training model with a strong emphasis on practical experience. So far, two cohorts totaling 53 students from ASEAN countries have enrolled.

Cooperation is also evolving from one-way training toward joint innovation. Guangxi Power Grid Co., Ltd. and the Royal Academy of Cambodia have jointly established a laboratory for artificial intelligence and safety equipment, while the company has also launched peer-to-peer exchanges with Electricité du Laos on improving power supply reliability.

To address language barriers in cross-border technical exchanges, Guangxi Power Grid Co., Ltd. has developed an AI-powered translation platform backed by a specialized database containing terminology for more than 1,800 types of power equipment. The platform supports accurate translation between Chinese and English, Chinese and Lao, and Chinese and Vietnamese.

At a recent training program for Chinese and overseas engineers, the system supported one-click generation of bilingual course materials and real-time speech translation, helping participants navigate highly specialized power-sector terminology.

To support regular international exchanges, Guangxi Power Grid Co., Ltd. has also established an international talent pool covering management, technical and skilled personnel. It has developed 24 hours of courses on international affairs as well as 20 short-form video courses.

“This year, we will also explore joint postgraduate programs with universities in ASEAN countries,” said Sun Xiaohua, deputy director of the Human Resources Department at Guangxi Power Grid Co., Ltd.

Looking ahead, Guangxi Power Grid Co., Ltd. plans to further advance a development model featuring “R&D in Beijing, Shanghai and Guangdong, integration in Guangxi, and application in ASEAN.” The company will continue expanding its multilingual power-sector corpora and explore a “Token Goes Global” model for power-sector AI, with computing resources and models based in Guangxi while knowledge services are delivered overseas. The effort is aimed at creating new forms of China-ASEAN energy cooperation and supporting the green development of the China-ASEAN Free Trade Area 3.0.
 




 

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Events

24th Sichuan Guangwu Mountain International Red Leaf Festival to Showcase Asia’s Spectacular Autumn Colors

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4 hours ago

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September 22, 2026

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Red Leaf Festival

BAZHONG, CHINA – Media OutReach Newswire – 21 September 2026 – The 24th Sichuan Guangwu Mountain International Red Leaf Festival will run from October 1 to November 18 at the Guangwu Mountain Tourism Area in Bazhong, Sichuan Province, China.

Located in southwest China, Guangwu Mountain boasts a forest coverage rate of 97%, earning its reputation as a “natural oxygen bar.” Each autumn, 680 square kilometers of mountain forests burst into a dazzling palette. Over 40 tree species, including Fagus pashanica, maples and lindens, weave the mountains into a stunning autumn landscape.

Known as “Asia’s longest natural red carpet,” the Mountain has become a top autumn destination for backpackers, photographers and travelers seeking immersive cultural and nature experiences, and is widely recognized as one of western China’s signature autumn attractions.

 




 
 

The tourism area caters to international visitors who prefer slower-paced, in-depth, off-the-beaten-path travel. The new Yanziling Loop Boardwalk, launched in May 2026, winds along mountain cliffs, with a sea of clouds rolling beneath visitors’ feet and brilliant foliage unfolding alongside the trail, creating the feeling of “stepping into a painting.”

Guangwu Mountain offers a wealth of outdoor attractions. Highlights include the 1,888-meter Red Leaf Coaster and a glass water slide certified by Guinness World Record, combining thrilling experiences with stunning natural scenery.

The large-scale immersive production “New Dream of Guangwu Mountain” integrates cutting-edge light and visual technology with Bashan folklore and traditions, transforming the forest into an atmospheric nighttime experience. Visitors can also enjoy welcome performances and interactive robot activities, which offer more ways to discover the mountain’s late-autumn charm.

A major highlight of this year’s festival is the newly completed Micang Avenue. Stretching 85 kilometers, the route connects seven core scenic spots, including Guangwu Mountain, Micang Mountain, and Nuoshui River, reducing a four-hour drive to just one hour. Lined with continuous stretches of colorful forest and layered peaks, the avenue brings brand-new travel experiences for autumn foliage enthusiasts.

The festival will also feature cultural, sports and international exchange activities, including the third season of the “Sending You a Red Leaf” campaign, the China Micang Avenue International Road Cycling Race, and the “World Red Leaf Landmark” global collection campaign.

In addition, 31 scenic attractions and 18 museums and cultural venues across Bazhong will provide special ticket offers and visitor benefits during the festival.

Across mountains and seas, Guangwu Mountain invites visitors from around the world to witness one of China’s most vibrant red-and-gold autumn displays.
The issuer is solely responsible for the content of this announcement.
 
 




 

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Business

DHL Invests in Greater Middle East-Africa Connectivity with New Aviation Lane

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4 hours ago

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September 22, 2026

By

DHL Express

The investment also reflects shifting global supply chains, as companies diversify sourcing, manufacturing and customer markets beyond traditional corridors

JOHANNESBURG, South Africa, September 21, 2026/APO Group/ —

  • New weekly B767/F Bahrain-Johannesburg service strengthens Sub-Saharan Africa connectivity and supports growing trade flows between Africa, the Gulf and global markets

DHL Express (www.DHL.com) has marked an important milestone in its regional aviation network with the successful operation of the first direct DHL flight between Bahrain and South Africa.

The inaugural flight arrived at OR Tambo International Airport in Johannesburg, opening a new weekly aviation lane operated by a DHL Express B767/F freighter. The route reinforces DHL’s continued investment in strengthening Sub-Saharan Africa network connectivity, expanding heavier-weight capability, improving flexibility and supporting growing trade flows between the Middle East and Africa.

 




  

As trade between Africa and the Middle East develops, businesses need resilient, well-connected logistics networks. The new service provides greater inbound and outbound capacity for South Africa and neighbouring countries through the DHL Johannesburg Hub, one of the company’s key gateways on the continent.

 

The investment also reflects shifting global supply chains, as companies diversify sourcing, manufacturing and customer markets beyond traditional corridors. Bahrain’s position as a gateway between Africa, the Gulf and Asia make it an important link for businesses seeking faster access to international markets.

 

Every new connection we introduce is designed with our customers in mind

“Every new connection we introduce is designed with our customers in mind. As global trade routes diversify and economic ties between Africa and the Middle East continue to strengthen, we are seeing powerful geographical tailwinds creating new opportunities for businesses. Demand is growing across sectors such as healthcare, technology, manufacturing and cross-border e-commerce, all of which rely on fast, reliable international logistics,” said Anthony Beckley, Vice President of Operations and Aviation for DHL Express Sub-Saharan Africa.

 

“While this first direct DHL flight between Bahrain and South Africa is a significant network milestone, its real value lies in the opportunities it creates for customers.”

 

 

South Africa is one of DHL’s Geographic Tailwinds markets, reflecting its growing role in global trade flows and its potential to drive future trade growth. And Johannesburg remains a critical gateway in DHL’s SSA network, linking South Africa and neighbouring markets to global opportunities through Bahrain and the wider DHL aviation network. Through continued investment in routes, aircraft capacity and hub connectivity, DHL is supporting customers across this dynamic lane.

 

“DHL Express is the only logistics provider operating a dedicated intra-regional air fleet across the Middle East, connecting customers through Bahrain with major global gateways including Hong Kong, Leipzig and Cincinnati,” said Richard Gale, Vice President of Aviation, DHL Express MENA.

 

“Bahrain’s position at the crossroads of Africa and the Middle East makes it an ideal hub for customers seeking faster, more reliable access across these growing trade corridors. We are pleased to add this direct Johannesburg connection as economic ties between Africa and the Gulf deepen.”

 

DHL remains committed to helping customers seize opportunities created by changing trade patterns and expanding economic relationships.

Distributed by APO Group on behalf of DHL Express.

 

 




 

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