China's largest overseas mining M&A project—the China Minmetals Corporation’s project in southern Peru— Las Bambas Copper mining project (abbreviated as “ Las Bambas Project ” ) The overall construction progress has reached 90% It is expected to begin formal production early next year.

　　It was recently reported that China Minmetals Corporation, China's largest overseas mining M&A project, is located in southern Peru. Las Bambas Copper mining project (abbreviated as “ Las Bambas Project ” ) The overall construction progress has reached 90% It is expected to begin formal production early next year.

　　2014 Year 4 Moon 13 On [date], the Chinese consortium led by Minmetals Resources Limited, a Hong Kong-listed platform under China Minmetals Corporation, together with Glencore ( Glencore Xstrata ) An acquisition agreement has been signed for the Las Bambas project, with the transaction amount reaching... 58.5 hundreds of millions of U.S. dollars. This deal represents the largest merger and acquisition in the history of China’s metal and mining industry. It is reported that among the Chinese consortium acquiring the company, Minmetals Resources holds a stake of... 62.5% of the shares, Guoxin International Investment Co., Ltd. holds 22.5% , CITIC Metals holds 15%。

　　Las Bambas is a world-class, high-quality copper mining asset. The project boasts enormous resource reserves, with proven copper reserves exceeding... 1000 Tens of thousands of tons, accompanied by substantial reserves of molybdenum, silver, and gold, with vast exploration potential; featuring a large-scale production design, it is currently the world’s largest copper mining project under construction and, upon commissioning, is expected to become one of the world’s top producers. 10 One of the large-scale mining operations; the concentrate boasts excellent quality, with a copper content reaching... 37-39% It is a copper concentrate product that is free of harmful impurities such as arsenic and is well-received by the market. With low operating costs and clear competitive advantages, it ranks among the global copper mines with the lowest cash costs.

　　A representative from China Minmetals Corporation stated that the project will produce copper concentrate containing copper annually. 32 Ten thousand tons (including the former) 5 Annual average copper production 45 10,000 tons), equivalent to 2013 China's domestically produced copper concentrate for the year 30% of imported copper concentrate 16% and the total output of copper equity held by Chinese enterprises overseas 40%。

　　According to preliminary estimates, once the Las Bambas project is completed and put into operation, China Minmetals' controlled copper resource reserves will exceed... 2000 10,000 tons, and possesses more than 60 Ten thousand tons / The mine’s copper production and supply capacity has ranked among the world’s top. 10 The large-scale copper producer has also become the largest mine-based copper producer in China and even in Asia.

　　This year 5 At the end of the month, He Wenbo, Chairman of China Minmetals Corporation, stated at a symposium for Chinese-funded enterprises that the successful acquisition of the Las Bambas project is a prime example of the Chinese government, enterprises, and banks each fulfilling their respective roles and working together wholeheartedly. He expressed confidence that the Las Bambas project could serve as a model for Chinese enterprises to go global collectively and develop in clusters.

　　China is the world’s largest consumer of copper, and its demand for copper concentrate accounts for a significant portion of global total demand. 50% Right. Driven by robust demand, China’s copper smelting capacity has expanded rapidly. However, the shortage of upstream resources has become increasingly pronounced, and China’s dependence on foreign sources for copper concentrate has risen to as high as... 75% By the way, the shortage of copper raw materials has become a serious constraint on China's economic development.