Puquios Copper Project in Chile Satisfies USD$1.7M Bond Security for Key Water Management Infrastructure
Camino’s water infrastructure permit clears the path for the Puquios construction phase, advancing its development plans.
Chile's Dirección General de Aguas (DGA) has authorized construction of the Coloradito Ravine Diversion and Channelization Works at the Puquios project. To satisfy DGA requirements for surface water management, Cuprum Resources Chile SpA, a 50/50 joint venture with Nittetsu, posted a USD $1.7 million financial guarantee bond. The bond is refundable upon completion, inspection, and certification by the DGA.
Recent heavy rainfall caused localized road washouts at the Puquios site, with repairs currently underway. Barrick Gold is repairing the un-sealed highway to accommodate heavy equipment traffic. Main site infrastructure, including earthworks foundations for the process plant, remains undamaged. Camino Minerals Corporation (COR) and Nittetsu continue advancing final administrative and commercial arrangements for a proposed Japanese-sourced debt facility to fund construction.
Camino Minerals Corporation (COR) has received authorization to begin construction on water infrastructure, a development that follows the October 2025 approval for waste dump expansion and the May 2026 management appointments. This step confirms the project remains on track toward construction readiness without altering capital requirements or the project timeline.
The company must post a USD $1.7M bond as a standard regulatory requirement; this does not represent new dilution or cash outflow beyond the posted guarantee. Additionally, weather-related road washouts have caused minor operational delays typical for remote mining sites in Chile, but these do not impact the core project timeline. The news aligns with previous expectations and management guidance regarding the progression from permitting to early works.
Camino Minerals Corporation is a junior mining company focused on copper development in Chile and exploration in Peru. Its flagship asset is the Puquios Copper Project, located in the Coquimbo Region of Chile, which operates as a 50/50 joint venture with Nittetsu Mining Co., Ltd. The project is considered construction-ready, with a Preliminary Feasibility Study outlining approximately 9,000 tonnes per annum of copper production over a 14-year mine life. The study indicates an internal rate of return of 23.4% at a copper price of $4.25/lb.
The company also holds secondary assets in Peru, including the Costa de Cobre project, a 65/35 joint venture with Nittetsu that is currently undergoing exploration expansion. Additionally, Camino Minerals holds early-stage copper and silver projects at Maria Cecilia and Plata Dorada.