Camino and Nittetsu Complete Acquisition of the Puquios Copper Project with Permits in Chile.

The Canadian company Camino Minerals, in collaboration with Japan’s Nittetsu Mining, has finalized the acquisition of the Puquios copper project, which already has the necessary permits. This milestone marks a significant advancement in the company’s production strategy in Latin America, especially since the project is ready for construction in Chile.

By acquiring Cuprum Resources Chile SpA, Camino gains full control of Puquios, an asset considered key to its copper production platform. The significance of this development lies in its size, extended lifespan, and the acquisition of the corresponding operational permits.

Jay Chmelauskas, President and CEO of Camino, highlighted that a recent pre-feasibility study estimates that Puquios has an after-tax internal rate of return of 23.4%, with approximate investments of $142 million. He also emphasized the importance of Nittetsu as a partner, as they will provide 50% of the necessary capital and have the expertise to lead the construction and operation of the mine.

In this context, Chris Adams has been appointed as the new President of Camino, bringing extensive experience in mining project financing. The company now has a strengthened management team with new proposals from Denham Capital, aiming to secure the necessary funding to advance the project.

Mita Shinichiro, CEO of Nittetsu Mining Co., Ltd., expressed satisfaction with the acquisition of Puquios, marking it as their third copper mine in Chile. Nittetsu is already operating in the La Serena region and is in the process of constructing another mine, Arqueros. The collaboration with Camino is seen as an opportunity to strengthen their presence in the sector.

The purchase was formalized through a sales agreement on October 4, 2024. Puquios already has the necessary environmental permit, and the company expects to secure the funding required to advance the project with Denham Capital and Nittetsu.

With this acquisition, Camino positions itself as one of the few publicly traded companies that has a copper project ready to be built in America. Denham Capital has been investing in Puquios since 2018, driving its progress through exploration, permitting, and engineering development.

Camino’s statements underscore the importance of considering prospective information related to the project, as well as the potential risks involved. Therefore, caution is advised for those interested in future projections and the financial status of the company.