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Financings

Rio2 receives $50M (U.S.) deposit payment from Wheaton

By The Northwire Desk — AI Analysis Nov 03, 2025 · 18:14 RIO · 2.35 Rio2 Limited
RIO · Price

Executive Summary

  • Rio2 Ltd. has received the fourth and final deposit payment of US$50 million from Wheaton Precious Metals International Ltd. (WPMI).
  • This payment fulfills the obligations under the amended and restated precious metals purchase agreement and flexible prepay arrangement for the Fenix gold project in Chile.
  • The proceeds will be utilized to continue advancing mine construction at the Fenix Gold project.

Key Details

  • Transaction Amount: US$50 million (fourth and final deposit payment).
  • Counterparty: Wheaton Precious Metals International Ltd. (WPMI).
  • Agreement Context: Amended and restated precious metals purchase agreement and flexible prepay arrangement.
  • Use of Proceeds: To continue advancing mine construction at Fenix Gold.
  • Project Location: Fenix gold project, Chile.
  • Project Scale: One of the largest undeveloped gold oxide, heap leach projects in the Americas.
  • Mineral Resource: 4.8 million ounces of gold (measured and indicated).
  • Capital Investment: Approximately US$235 million in initial and sustaining capital.
  • Employment Impact: 1,200 people during construction phase; 550 people during the 17-year operations phase.
  • Operational Method: Run-of-mine heap leach operation; no crushing or tailings storage facilities required.
  • Technical Report: NI 43-101 Technical Report on the Feasibility Study for the Fenix Gold Project (dated Oct. 16, 2023).

Notable Quotes

  • No direct quotes from executives were included in the provided text.
Read the original news release →

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