Rio2 Receives Last Permits to Construct Fenix Gold Mine in Chile

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Rio2 Limited (Vancouver, British Columbia) will start the construction of its Fenix gold mine asset in November, and production is expected to begin in early 2026.

The miner has received the last permits from Chilean authorities for the construction of its Fenix gold mine in the Atacama region, northern Chile. The asset is located in the Maricunga Mineral Belt, an area also known for lithium extraction.

With the approval permits, the mining company is authorized to start the construction and subsequent operational phases of the Fenix gold mine.

Andrew Cox, president of Rio2, commented, "The team at both Rio2 and Fenix Gold have done a great job in obtaining these permits, which will allow the company to complete its debt and equity financing for the construction phase of the mine. We look forward to rapidly continuing to unlock value for all our stakeholders by progressing the Fenix Gold Mine towards an anticipated construction start in November of this year."

Based on information from Rio2, the mine's construction will take one year, and its life of mine is set at 17 years.

The asset has measured and indicated gold reserves of 4.8 million ounces, and it will require an initial investment of US$235 million.

Based on a statement from the company, "The mine being contemplated at the project will be a run-of-mine heap leach operation; no crushing or tailings storage facilities are required, thereby minimizing the overall impact and footprint of the Project."

Subscribers to Industrial Info's Global Market Intelligence (GMI) Plant and Project databases can click here for a profile on the mine, and click here for related project reports.

According to information compiled by Consejo Minero, Chile represents slightly more than 1% of the global gold production. Between January and July this year, the South American nation produced 19 metric tons of gold.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).