Rio2 has been collaborating with its financial advisor to identify the most advantageous financing solution. Credit: Juan Enrique del Barrio/Shutterstock.

Rio2’s Chilean subsidiary, Fenix Gold Limitada, has secured all the necessary sectorial permits to commence construction of the Fenix Gold Mine in the Atacama region of Chile.

This marks a significant milestone, paving the way for the development of one of the largest undeveloped gold oxide, heap leach projects in the Americas.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The sectorial permits obtained include authorisations for mining methods, a process plant, waste dumps and stockpiles, and the closure plan.

These approvals are the final governmental authorisations required for the construction phase and future operations of the Fenix Gold Mine.

Rio2 has been collaborating with its financial advisor, Endeavour Financial, to identify the most advantageous financing solution for the project.

The company is currently evaluating several financing proposals from interested parties, with due diligence under way with selected financing sources.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

With an estimated initial and sustaining capital investment of approximately $235m (214.29 pesos), the project is expected to create employment for around 1,200 individuals during the construction phase and maintain 800 jobs throughout its 17-year operational lifespan.

The planned mine will operate as a run-of-mine heap leach, eliminating the need for crushing or tailings storage facilities.

Rio2 president and CEO Andrew Cox said: “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.”