Rio2 Limited, a mining enterprise, announced the approval of its wholly owned Chilean subsidiary, Fenix Gold Limitada’s Environmental Impact Assessment (EIA) for the Fenix Gold Project situated in the Atacama region of Chile.
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Rio2 expressed its satisfaction with the Committee of Ministers' decision in Chile to endorse the EIA for the Fenix Gold Project. This approval enables the company to progress with statutory permitting, secure financing, and proceed with the scheduled resumption of construction activities in 2024.
Finally, after many months of patiently waiting, we welcome the decision of the Committee of Ministers to support our advancement of the Fenix Gold Project. We have designed Fenix Gold as an example of the very best of modern mining bringing not only significant investment and jobs to the Atacama region but also extensive protection of the environment with a particular focus on flora and fauna in the area we will be operating.
Alex Black, Executive Chairman, Rio2 Limited
Black added, “I sincerely thank our shareholders for the patience and support they have shown over the past 18 months during this difficult process, and I particularly would like to thank the first-class management team at Rio2 and Fenix Gold for never giving up on our mission to vindicate the work completed for the Fenix Gold EIA.”
Fenix Gold Project
The Fenix Gold project stands as one of the largest undeveloped gold oxide heap leach projects in the Americas, boasting a Measured and Indicated mineral resource of 4.8 million ounces of gold, as defined in National Instrument 43-101 (“NI 43-101”). The company believes that this significant resource will positively contribute to the Atacama Region and Chile.
This project exemplifies modern gold mining practices, incorporating thorough consultations and designs that encompass technical, environmental, and social considerations from the project's inception.
Representing a substantial investment of approximately US$235 million in the Chilean gold mining industry by a junior mining company, the project is expected to create employment opportunities for at least 1,200 individuals during the construction phase and 550 people throughout its 17-year operational phase.
The envisioned mine at the project will operate as a run-of-mine heap leach, eliminating the need for crushing or tailings storage facilities and thereby minimizing the overall impact and footprint of the project.
Source: https://www.rio2.com/