Jay Chmelauskas, president and CEO of Camino, characterized the environmental expansion as a milestone that provides flexibility to systematically evaluate priority targets and advance what the company considers a district-scale copper opportunity along Peru’s southern coast. The authorization framework enables Camino to continue drilling multiple targets at Costa de Cobre while advancing Puquios in Chile. Costa de Cobre, formerly known as Los Chapitos, is developed jointly with Japan’s Nittetsu Mining under a 65-35 ownership structure. Nittetsu completed its earning period in June after investing C$10 million.
The environmental modification received favorable technical opinion from the National Water Authority but Camino still requires Ministry authorization to begin exploration activities in the newly incorporated areas. The company expects to initiate a new drilling campaign in coming months subject to obtaining those permits. The project has accumulated approximately 29,650 meters of historical drilling, though roughly 91% of work has concentrated on the Diva corridor while La Estancia and Atajo remain largely unexplored.
The expansion occurs as Peru proposes automatic approval mechanisms for small-scale exploration projects of up to 10 platforms and under five hectares through a new Environmental Sworn Declaration instrument. The Ministry opened the regulatory proposal to 15-day public consultation on September 29, targeting projects with non-significant environmental impacts to reduce early-stage permitting timelines. Current regulations require Ficha Técnica Ambiental for projects up to 20 platforms or full Environmental Impact Studies for larger initiatives, creating administrative bottlenecks that industry participants argue reduce Peru’s competitiveness for exploration budgets against neighboring jurisdictions with faster approval processes.
This article was curated and published as part of our South American energy market coverage.
