Rio2 starts building Fenix gold mine


Rio2 CEO Andrew Cox and mining and regional authorities at a ceremony marking the start of construction of the Fenix mine.
Vancouver-based Rio2 last week celebrated the official start of construction of its Fenix gold mine, in the Maricunga gold belt of Chile’s Atacama.
The event, held on Thursday, was attended by Mining Minister Aurora Williams Baussa, deputy Atacama Governor Mario Silva Álvarez and Sonami president Jorge Valdivieso, as well as representatives of regional communities and regional government entities.
Rio2 restarted construction activities at Fenix in October after successfully completing a debt and equity financing for the construction of the mine earlier that month.
The projected construction capital expenditure for 2025 is estimated to be $122-million, with construction expected to be completed in November. First gold production is currently guided for January 2026.
The Fenix project is one of the largest undeveloped gold oxide, heap leach projects in the Americas, hosting a measured and indicated mineral resource of 4.8-million ounces of gold.
The project will operate as a run-of-mine heap leach facility, eliminating the need for crushing or tailings storage facilities.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation