Rio2 achieves first gold pour at Chile’s Fenix gold mine

The company reported on Monday that the first official gold pour took place on January 23, yielding about 897 oz of gold. This follows the production of about 358 oz in December during the plant commissioning phase. The two pours also produced about 131 oz of silver.

Rio2 said construction of critical path infrastructure was completed on time and on budget, in line with previous guidance, positioning the project as Chile’s newest gold mine.

The company is now focused on ramping up operations to a throughput rate of 20 000 t/d of ore to pad over the remainder of the year. Based on its current ramp-up plan, Rio2 is targeting gold production of between 60 000 oz and 70 000 oz in 2026.

Executive chairperson Alex Black said the first pour represented the culmination of an extended development period.

“This milestone moment is the culmination of a long and somewhat challenging eight-year journey since our 2018 merger with Atacama Pacific Gold Corporation. It speaks to the discipline, execution capability and determination of our team.

"On behalf of the board of directors of Rio2, I want to congratulate Andrew Cox and the combined Rio2 and Fenix Gold team for delivering the Fenix gold mine on budget, in record time. Despite all that we have dealt with, the team has always maintained its 'never give up' attitude to get the job done.

"Fenix Gold is the cornerstone asset for creating value for all our stakeholders and I look forward to what the future holds as we expand the mine and bed down the Condestable copper mine acquisition that we announced in December.”

President and CEO Cox commented the company was now focused on operational performance and safety.