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Finance Investment, Oil Mining Resources

Challenger Gold (ASX: CEL) – Carbon modelling of the Hualilan Scoping Study mine plan outlines Challenger’s ESG Credentials

Challenger Gold (ASX: CEL) 2 mins read

Perth, WA – June 5, 2024 – Challenger Gold Limited (ASX: CEL), an ASX listed gold exploration Company, is thrilled to announce a groundbreaking achievement in environmental stewardship with its Hualilan Gold Project. Independent carbon modelling confirms that the Hualilan mine is set to become the lowest carbon intensity gold mine on the ASX, marking a significant milestone in sustainable mining practices.

Key Highlights of the Hualilan Scoping Study:

  • Unprecedented Low Carbon Intensity: Hualilan's projected emissions intensity of just 0.1 tons CO2e per ounce of gold produced is six times lower than the Australian gold mining average, positioning it well within the lowest quartile globally.
  • Exceptional Economic and Environmental Performance: The mine is expected to achieve the lowest All-in Sustaining Cost (AISC) of US$830 per ounce with an impressive average annual production target of 116,000 oz of gold, alongside significant silver and zinc outputs.
  • Rapid Economic Returns: The project forecasts a swift payback period of less than 1.25 years, with a pre-tax NPV5 of US$409 million, based on current gold and silver prices.
  • Certified Carbon Neutral Operations: In a commitment to its ESG goals, Challenger’s operations in Argentina have been certified as carbon neutral for the year 2024.

Managing Director, Kris Knauer commented on the results: "We are pleased to report the results of independent carbon modelling of our Hualilan Gold Project. This carbon emissions modelling shows that Hualilan will be the lowest Greenhouse Gas emitter of all ASX listed gold operations per ounce or production.

This extremely low emissions intensity per ounce is a combination of several factors. The highgrade grade nature of Hualilan, the excellent mining conditions, simple metallurgy of the project coupled with our ability to source inexpensive 100% renewable power for the project. I am also pleased to report that our operations in Argentina have been certified carbon neutral for 2024.”


About us:

Challenger Gold Limited’s (ASX: CEL) aspiration is to become a globally significant gold producer. The Company is developing two complementary gold/copper projects in South America with the Company's flagship Hualilan Gold Project in San Juan, Argentina containing resources of 2.8 Moz AuEq. 

Contact details:

Jane Morgan


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