Rio2 announces official start of construction of Fenix Gold Mine
Rio2 Ltd. has announced the official start of construction of its Fenix Gold Mine located in the Maricunga Gold Belt of the Atacama Region.
The Fenix Gold Project is one of the largest undeveloped gold oxide, heap leach projects in the Americas, hosting a measured and indicated mineral resource of 4.8 million ounces of gold which the Rio2 believes will make a positive contribution to the Atacama Region and Chile.
The project is an example of modern gold mining where a full complement of technical, environmental, and social considerations has been consulted and designed from the outset. The project represents a significant investment in the gold mining business in Chile by a junior mining company of approximately US$235 million of initial and sustaining capital, generating employment for at least 1200 people during the construction phase, and 550 people during the 17-year operations phase.
The mine being contemplated will be a run-of-mine heap leach operation; no crushing or tailings storage facilities are required, thereby minimising the overall impact and footprint of the project.
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