Rio2 Achieves First Gold Pour at Fenix Mine, Targets 60K-70K Oz in 2026
Event summary
- Rio2 completed its first official gold pour at the Fenix mine on January 23, 2026, yielding 897 ounces of gold.
- Total gold production for December 2025 and January 2026 combined reached 1,255 ounces, with 131 ounces of silver.
- Rio2 aims to ramp up production to 20,000 tonnes per day by the end of 2026, targeting 60,000–70,000 ounces of gold for the year.
- The project was delivered on time and on budget after a 14-month construction period.
The big picture
Rio2's successful gold pour at Fenix marks a critical milestone in its eight-year journey since merging with Atacama Pacific Gold. The project's on-time, on-budget delivery underscores the company's operational discipline, but the real test lies in sustaining production growth amid volatile commodity markets. The integration of the Condestable Copper Mine adds another layer of complexity as Rio2 seeks to expand its portfolio beyond gold.
What we're watching
- Production Ramp-Up
- Whether Rio2 can sustain its ramp-up pace to meet its 2026 production targets of 60,000–70,000 ounces of gold.
- Expansion Plans
- The timeline and feasibility of Fenix Gold's Phase 2 expansion, which will drive future growth.
- Integration Risk
- How Rio2 will manage the integration of the recently acquired Condestable Copper Mine alongside Fenix operations.
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