TSX-listed Rio2 gets US$25m boost to fast-track Chile gold project
Plans are already underway to implement a phase expansion of the development, with the production that increases from 20,000 tons per day (t/d) to 80,000 t/d to produce 250,000-300,000 ounces of gold per year.
To achieve this, Rio2 is in active discussions with colleague Explorer Kinross Mining, which has the nearby gold mine, to share the cost of the infrastructure for the construction of a water pipeline directed by the regional supplier to the mine sites.
In delivering Fenix, Rio2 says that it is not only focused on the thrust of the ounces. The company also adopted an “pillar” approach of social, environmental and economic responsibilities to ensure that development exceeded local environmental standards and becomes a project for extraction operations in ecologically sensitive regions.
With the loans in place and a simplified development strategy, Rio2 is putting their eyes to get gold out of the ground – and on the market – as quickly as possible. The bettors will probably see closely that the progress of the construction and the production objectives become more focused.
While the gold price continues to flirt with maximums of all time and market events behind the cleanest and most intelligent games, Rio2 could be one of the junior gold miners to look at in 2025.
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