Rio2 upgrades Peruvian copper plant to turbocharge water recovery

Rio2 Limited has flicked the switch on a new tailings filtration facility at its Condestable copper mine in Peru – a major step towards dry-stack tailings and more efficient water use.

The new plant has been built over 18 months at a total capital outlay of US$27M (A$38M). Once fully online, the facility is designed to handle 8400 tonnes per day and is capable of processing 100 per cent of Condestable’s current tailings stream. Rio2 says the circuit has also been engineered with potential future production expansions in mind.

Commissioning is expected to wrap up within 10 weeks, with Rio2 aiming for commercial operations in the third quarter of 2026. Initially, filtered dry tailings will be placed within existing permitted tailings impoundments before the operation transitions to a proposed dry tailings storage facility (TSF).

Management says permitting for the new TSF is progressing, with environmental approval expected in the third quarter of 2026. Rio2 is targeting an initial permitted capacity of 43 million tonnes, with a staged design that could ultimately expand to 170 million tonnes, thereby supporting future mine life extensions.

By moving to dry-stack tailings, Rio2 says Condestable will become a best-in-class operation for tailings management, materially lifting its safety and environmental performance and supporting the operation’s  Copper Mark certification pathway. 

Copper Mark is a leading assurance framework that promotes responsible production practices in the copper, molybdenum, nickel and zinc industries. Certification ensures a company’s mining and refining site meets environmental, social, and governance (ESG) standards and lines up with the UN’s sustainable development goals.

Rio2 Limited president and chief executive officer Andrew Cox said: “The operating team’s commitment to the highest environmental and safety standards has been impressive and the beginning of the commissioning phase of the filter plant is strong evidence of this effort. It is also an important step for the next stage of growth at the mine, which we at Rio2 will be excited to unveil before the end of this year.”

The company expects the move to tailings filtration will significantly improve total water recovery from its current 60 per cent to almost 90 per cent.  This could provide headroom for further process growth without chasing additional water permits or increasing the draw on local water resources.

Rio2 completed the acquisition of its 99.1 per cent interest in Condestable in late January and has since moved quickly to bed the asset down. This has included making a voluntary US$20M (A$28M) vendor debt payment in late March, which extinguished a US$10M (A$14M) mezzanine note and reduced the senior promissory note to US$45M (A$63M).

With the filtration plant now fully in commissioning mode, Rio2 has another valuable lever to pull at Condestable – cleaner tailings handling, vastly improved water efficiency, and a host of environmental benefits, along with a tailings platform and strategy that can grow with the mine. 

The company says it plans to outline its next stage of growth initiatives for Condestable before year's end.

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