Mining sector updates: Schwager expands services and Challenger Gold secures funding

Schwager is expanding its business strategy to include mine preparation (Premin) as a key growth driver toward 2030. Leveraging its experience in Chilean large-scale mining and an alliance with the Peruvian company Incimmet, the firm recently secured a contract for Codelco’s Chuquicamata Subterranea. This new capability aims to address high-complexity underground mining projects with a focus on technical requirements, safety, and productivity.

In a separate development, Australian firm Challenger Gold has secured up to US$30.3 million in financing to advance the first phase of the Hualilán gold project in Ullum. This funding, obtained through convertible negotiable obligations, allows the company to accelerate its production timeline to 2029, one year earlier than previously projected. The strategy includes building its own processing plant to gain operational autonomy, moving away from previous plans to use the Casposo plant.