Camino and Nittetsu Launch Next Phase of Detailed Engineering for the Puquios Copper Project in Chile with Ausenco
Camino begins detailed engineering at its Puquios copper project in Chile.
Camino Minerals Corporation and its 50/50 joint venture partner, Nittetsu Mining, have officially launched the detailed engineering phase for the Puquios copper project in Chile. The company has entered into a contract with Ausenco valued at US $6.2 million, which requires 85,000 specialized work hours and spans a 12-month timeline to prepare the project for construction.
Concurrently, the company is working with Nittetsu to finalize a potential Japanese debt facility intended to fund the start of construction. This announcement follows a series of operational milestones, including the posting of a $1.7 million water bond and DGA authorization for water infrastructure on Oct 5, 2026, EIA approval for the Costa de Cobre project in Peru on Sept 28, 2026, and the closing of a C$15.2 million financing package on Aug 26, 2026.
Camino Minerals Corporation (COR) has launched detailed engineering, a standard progression following the completion of critical engineering and feasibility studies. This development confirms the project is adhering to its development timeline and validates management's execution, keeping the company on track for a targeted construction start in the second half of 2026.
The announcement does not introduce new financial terms, unexpected catalysts, or material changes to the risk profile. Because the project relies on a still-pending Japanese debt facility, the financial risk and execution timeline remain unchanged. The company’s liquidity position and near-term capital requirements are also unaffected by this incremental operational update.
Camino Minerals Corporation (COR) is a Canadian junior mining company focused on copper exploration and development in Chile and Peru. Its flagship asset is the Puquios Copper Project in Chile, which operates as a 50/50 joint venture with Nittetsu Mining. The project is considered construction-ready, with a Preliminary Feasibility Study indicating a net present value at an 8% discount rate of $118 million at a copper price of $4.25 per pound and $228 million at $5.50 per pound. First production from Puquios is targeted for 2028.
The company also holds interests in the Costa de Cobre project in Peru, a 65/35 joint venture with Nittetsu. Currently in the exploration and resource delineation stage, Costa de Cobre has seen over 28,660 meters of drilling completed. Camino Minerals is advancing engineering, permitting, and financing for Puquios while continuing to explore Costa de Cobre.