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Rio2 Expands in Latin America With the Acquisition of the Producing Condestable Mine - Rio2 (OTC:RIOFF)
Rio2 plans to expand Condestable Mine production to 10,000 tonnes per day with potential increase to 12,000 tpd, backed by $217 million in financing and strong projected returns.
- Rio2 announced the acquisition of the Condestable Mine in Peru, paying US$180 million upfront plus US$37 million deferred, and filed a MEIA to seek permits for expanding to 10,000 tonnes per day.
- Strategic benefits cited include diversification and accretion across per-share metrics as Rio2 says the Transaction delivers cash flow, minimal share dilution, and long-life copper from Condestable Mine.
- Analysts project Condestable will generate steady EBITDA of $110 million, rising to $145 million at $5.35 per pound, with combined production about 180,000 gold-equivalent ounces and a pathway to 380,000 ounces post Fenix Phase 2.
- Permits and regulatory approvals will determine the 10,000 tpd timeline, with MEIA approval possible next year and any 12,000 tonnes per day target dependent on feasibility studies and a short-form permit.
- With Fenix construction 80 per cent complete, Rio2 adds a second jurisdiction as Condestable Mine operates on hydroelectric power and is rolling out electrification.
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Sydney Morning Herald+2 Reposted by 2 other sources
Rio2 transforms into dual producer with Peru copper mine deal
Rio2 Limited is acquiring the Condestable copper-producing mine in Peru for a total of US$217 million, instantly transforming the company into a producer of precious and base metals.
·Sydney, Australia
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Rio2 Expands in Latin America With the Acquisition of the Producing Condestable Mine - Rio2 (OTC:RIOFF)
Positions Rio2 as a Diversified Latin American Gold Miner with Copper Exposure Concurrent C$140 Million Bought Deal Equity Financing to Support the Acquisition NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, Dec. 08, 2025 (GLOBE NEWSWIRE) -- Rio2 Limited ("Rio2" or the "Company") (TSX:RIO, OTCQX:RIOFF, BVL: RIO)) today announced that it has entered into a definitive …
·New York, United States
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Total News Sources10
Leaning Left6Leaning Right2Center2Last UpdatedBias Distribution60% Left
Bias Distribution
- 60% of the sources lean Left
60% Left
L 60%
C 20%
R 20%
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