Mining company Rio2 Limited has officially announced the start of construction of its flagship project, the Fénix Gold Mine , located in the Maricunga Gold Belt, in the Atacama Region, Chile. The inauguration event, held on February 6, brought together important authorities such as the Minister of Mining, Aurora Williams Baussa; the Sub-Governor of Atacama, Mario Silva Álvarez; and representatives of the Colla indigenous communities.
Economic impact of the Phoenix Gold Mine project
With an estimated investment of USD 122 million by 2025, the company plans to complete construction in November of that same year . The first gold extraction is scheduled for January 2026. This project will generate more than 1,200 jobs during the construction phase and around 550 positions during its 17 years of operation.
The Fénix Gold Project stands out as one of the largest undeveloped oxide heap leach gold projects in the Americas, with 4.8 million ounces of measured and indicated mineral resources . Rio2 has prioritized high environmental and social standards, avoiding the use of crushing facilities and tailings storage, thereby minimizing environmental impact.
Financing and long-term commitment
The resumption of construction in October 2024 was made possible following the successful securing of debt and equity financing . Andrew Cox, President and CEO of Rio2, highlighted the importance of the project for the company and also for the region, underlining the commitment to responsible and sustainable development.
The Fénix Gold Project will contribute significantly to the regional economy and will also serve as a model for modern mining in Chile, demonstrating that it is possible to combine economic development with environmental and social responsibility.
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Source and photos: Rio2