Already plans are afoot to roll out a phase two expansion of the development, with production slated to increase from 20,000 tonnes per day (t/d) to 80,000t/d to produce 250,000-300,000 ounces of gold per year.
To achieve this, Rio2 is in active discussions with fellow TSX-listed explorer Kinross Mining, which owns the neighbouring La Coipa gold mine, to share the infrastructure cost of building a direct water pipeline from the regional supplier to the mine sites.
In delivering Fenix, Rio2 says it isn’t just focused on pushing out the ounces. The company has also employed a “three-pillar” approach of social, environmental and economic responsibility to ensure the development exceeds local environmental standards and becomes a blueprint for mining operations in ecologically sensitive regions.
With funding in place and a streamlined development strategy, Rio2 is setting its sights on getting gold out of the ground – and into the market – as quickly as possible. Punters will likely be watching closely as construction progresses and production targets come into sharper focus.
As the gold price continues to flirt with all-time highs and the market rallies behind cleaner, smarter mining plays, Rio2 might be one of the gold junior miners to watch in 2025.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
- For more: Elrisala website and for social networking, you can follow us on Facebook
- Source of information and images “brisbanetimes”“
