Rio2 Finalizes Updated Technical Report for Condestable Copper Mine in Peru
Rio2 (RIO.V) has finalized an updated technical report for the Condestable copper mine in Peru with the company saying it's studying an expansion of production at the site.The report outlined an after-tax net present value of US$710 million based on an 8% discount rate, the miner said Tuesday.The project is expected to produce an average of 18,000 tonnes per year of contained copper in concentrate, 12,900 ounces of gold and 304,800 ounces of silver over a 14-year mine life.The study also recorded an increase in measured, indicated and inferred resources compared to the 2022 technical report.In January, Rio2 closed the acquisition of a 99.1% interest in Condestable from Southern Peaks Mining. Chief Executive Andrew Cox said they will be "conducting studies to expand production at Condestable."
