Rio2 targets Christmas production after Chilean winter halts mine
Rio2's Fenix mine halted operations in July and August but targets 7000 ounces monthly by December.
Heavy snow and high winds shut Rio2's Fenix Gold mine from July 17 to 24. The mine also closed from August 10 to 22.
The company halted mining operations but kept processing running at reduced capacity. Rio2 safely moved staff during the severe storms.
The extreme Chilean winter disrupted production. Rio2 attributes this to a super El Niño.
With the worst weather now behind it, management is working to recover lost production. Rio2 forecasts monthly gold output of 4000 ounces in October.
In November, it expects 6000 ounces. By December, it targets 7000 ounces.
These forecasts assume no further disruption. The Fenix mine sits 4500 metres above sea level in Chile's Maricunga gold belt.
- 4500 metres above sea level
- Mine elevation
- Maricunga gold belt, Chile
- Location
- 7000 ounces monthly
- December target
- 43 holes for 14,669 metres
- Exploration drilling completed
Why it mattersRio2 is ASX-listed. Investors track production timelines closely. Delays signal operational risk at a flagship new mine.
AustraliaRio2 is Australian-listed; analysts watch Fenix output as proof the mine can sustain planned production rates.
✓ Claims checked against the source and corrected before publish. checked 1 h ago
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