A Key Milestone in a Japan–Peru Copper Partnership
In early December 2025, Camino Minerals confirmed that Nittetsu Mining, one of Japan’s major resource companies, has completed its final US$1.5 million earn-in payment for the Los Chapitos copper project in southern Peru. This milestone formalizes the transition into a joint-venture structure, with Camino retaining 65% ownership and operatorship while Nittetsu consolidates its strategic position within Peru’s copper landscape. The earn-in completion marks growing Japanese interest in securing long-term access to copper amid rising global demand.
Exploration Momentum and Project Consolidation in Southern Peru
The agreement triggers a new phase of exploration, with drilling campaigns already scheduled to begin before the end of the year. Located in the coastal belt of Arequipa, Los Chapitos hosts copper oxide and sulphide targets that have attracted sustained attention from previous operators and investors. Nittetsu’s participation brings technical depth and financial stability, enabling a more ambitious exploration program and enhancing regional confidence in the project’s development potential. The JV also strengthens linkages between Peruvian operations and Japan’s downstream copper-processing and manufacturing sectors.
Why This Development Matters for Peru’s Investment Climate
The Los Chapitos earn-in illustrates how mid-tier foreign investors—not only major global producers—are expanding their footprint in Peru’s copper sector. In a year marked by mixed signals for mining governance, the progress of a Japanese partner underscores the country’s continued attractiveness for exploration capital when projects demonstrate geological potential, community viability, and regulatory clarity. The broader lesson is that predictable exploration pathways and stable joint-venture structures can mobilize new international investment, helping Peru maintain its competitive edge in the global copper supply chain.