Rio2 Limited. Sale of the Anocarire mining concessions by Fenix Gold Limitada, to Andex Minerals Chile
1. Deal Description
Guerrero Olivos represented mining company, Rio2 Limited, in the sale of the Anocarire mining concessions by Fenix Gold Limitada, a wholly owned subsidiary of Rio2, to Andex Minerals Chile SpA following the successful completion of Andex’s purchase option.
The Anocarire mining concessions were one of the non-core assets resulting from the Company’s business combination with Atacama Pacific Corporation in July 2018. The concessions are located in the district of Putre, Province of Parinacota, Region I, Chile, approximately 120 km east of Arica and 60 km southeast of the town of Putre. There are no development synergies between the future Fenix Gold Mine and the Anocarire concessions.
Rio2 is a mining company with a focus on development and mining operations. Rio2 is focused on taking its Fenix Gold Project in Chile to production in the shortest possible timeframe based on a staged development strategy. In addition to the Fenix Gold Project in development in Chile, Rio2 Limited continues to pursue additional strategic acquisitions where it can deploy its operational excellence and responsible mining practices to build a multi-asset, multi-jurisdiction, precious metals company.
2. Counsel list
Counsel to Rio2 Limited: Guerrero Olivos
Partners: Marzo Zavala and Pedro Lyon
Associates: Jerónimo Zabala and María José Morales
Counsel to Andex: Lembeye. Partner: Rony Zimerman
3. Date of closing
22/12/2021
4. Deal Value
USD5 million
5. Jurisdictions involved
Chile