Canadian mining company Rio2 has announced the commencement of construction on its Fénix Gold mine, a greenfield initiative that the company describes as “the largest undeveloped oxide heap leach project in the Americas” and the largest of its kind in Chile.
Investment and Workforce Requirements
According to reports from DF, the capital and maintenance investment for the mine is estimated at $235 million. During the construction phase, the project will require 1,200 workers, while its operation, expected to last 17 years, will employ around 800 people.
Location and Production Capacity
The open-pit mining operation will be developed in the Maricunga Gold Belt, located in the Atacama region of Chile. The mine is projected to produce an average of 82,000 ounces of gold annually.
A preliminary internal study indicates that the mine has the potential to expand from an initial processing capacity of 20,000 tons per day to a mineral extraction rate of approximately 80,000 tons per day.
Future Expansion Plans
To assess and justify potential expansion, Rio2 has initiated a study set to be completed by the end of 2025. This timeline aligns with the expected completion of the construction phase, allowing production to begin in January 2026.
The study will also evaluate long-term water supply options, selecting the most optimal strategy to form the economic foundation of the project.
Government Endorsement
Chilean Minister of Mining, Aurora Williams, highlighted the project’s adherence to all necessary environmental and social requirements. She emphasized that “Fénix Gold has been developed with all the necessary regulatory approvals, demonstrating that inclusive and responsible mining is possible.”
With its significant investment, job creation, and expansion potential, the Fénix Gold project stands as a major step in Chile’s mining industry, reinforcing the country’s position as a key player in global gold production.
