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| Fenix Gold Project |
Rio2 Advances Fenix Gold Project Amid Key Industry Participation
Rio2 Ltd has officially commenced construction of its Fenix Gold Mine in the Maricunga Gold Belt of the Atacama Region, Chile. The announcement was made during a ceremony on February 6, attended by key government officials, industry leaders, and representatives from indigenous communities.
Key Attendees and Project Developments
Among the prominent attendees were Aurora Williams Baussa, Minister of Mining, Mario Silva Álvarez, Deputy Governor of Atacama, and Jorge Riesco Valdivieso, President of SONAMI. Officials from InvestChile, CORPROA, and SERNAGEOMIN also participated in the event, which included remarks from authorities and Andrew Cox, President & CEO of Rio2.
Construction activities restarted in October 2024 following a successful financing round. Bulk earthworks at the plant site are complete, and concrete footings for the processing plant have been poured. The ADR plant will be housed in a steel-framed building with modular thermo-acoustic panels.
Mining Expansion Potential and Strategic Partnerships
The initial phase targets a 20,000 t per day ore mining rate, with potential expansion to 80,000 t per day, increasing annual gold production from 100,000 oz to a range of 250,000-300,000 oz. A mine expansion study is underway, with completion expected by the end of 2025.
STRACON Group, a key contractor, commenced initial construction activities in November 2024. Awarded in 2021, the contract includes infrastructure development, access and haul road construction, and open-pit mining operations.
STRACON CEO Steve Dixon emphasized the company's commitment to responsible mining: "This project represents a pivotal opportunity for STRACON to leverage our extensive experience and reinforce our role as a strategic partner in sustainable mining."
With Rio2 advancing construction and evaluating expansion, the Fenix Gold Mine is poised to play a crucial role in Chile’s mining sector while strengthening industry partnerships.
