Appian Capital Advisory, a global private equity firm specializing in natural resources, has successfully structured a $150 million financing package for Atlantic Group to support its acquisition of the Tongon gold mine in Côte d’Ivoire from Barrick Gold.
The transaction values the Tongon mine at up to $305 million, inclusive of contingent payments. Tongon is projected to produce approximately 140,000 ounces of gold in 2025, with exploration programs underway to extend the mine’s operational life and unlock additional reserves.
The financing package comprises a senior secured debt facility and a gold stream agreement, providing Atlantic Group with flexible capital to execute its growth strategy. To mitigate commodity price volatility, Atlantic Group will implement a downside gold price protection program, ensuring stable cash flows and reducing financial risk.
Atlantic Group, headquartered in Abidjan, Côte d’Ivoire, is a diversified private holding company with operations spanning banking, insurance, agro-industry, and industrial sectors. The group maintains a strong presence in more than 15 countries, positioning it as a key player in West Africa’s economic landscape.
