SolGold looks to make Cascabel a net zero carbon mine

Australia’s SolGold plans to use cutting-edge technology at its Ecuadoran Cascabel copper-gold-silver project in Imbabura province and make it a carbon-neutral operation.

“We're going to use the latest technology available [when construction begins]. Our main objective is to have a zero-carbon mine with the best technology,” SolGold CEO Scott Caldwell told BNamericas.

The two project stages will demand around US$4.2bn, Caldwell told BNamericas in an interview last month. Opex during the 28-year mine life is put at US$8.97bn.

Cascabel is in the prefeasibility stage, with SolGold presenting the latest study in February. The company plans to conclude the feasibility study in June 2025 and begin construction in 2H26.

Process automation and remote control from anywhere in the world will be crucial as the project involves an underground mine. These technologies must be used to improve productivity and workplace safety, Caldwell said.

The company plans to use machines that run on batteries and not diesel, power the mine with renewable energy and, if possible, use electric vehicles.

SolGold is also mulling a partnership with a company to build a hydrosolar plant, which could feed the national grid if there is surplus energy.

Caldwell added that Cascabel would attempt to follow the best practices of leading mines in Chile, Canada, and Indonesia.

Cascabel will be a phased block cave mine, the first of its kind in Ecuador. It involves processes that have never been used in the country, including high-tech that has been successfully used in other parts of the world, Caldwell said.

SolGold expects Cascabel to become a global top 20 copper-gold mine, with an advantage in infrastructure and services that other assets in the region do not offer.