Xinhua News Agency, Beijing, August 1 (Reporter)   (Zhang Xinxin) A consortium led by China Minmetals Resources Co., Ltd., a subsidiary of China Minmetals Corporation, and jointly participated in by China National Investment Holding Co., Ltd. and CITIC Metal Co., Ltd. (“the China Minmetals Consortium”) completed the equity transfer for the Las Bambas copper mine project—the world’s largest copper mine currently under construction—on the 1st. This marks the largest overseas acquisition to date in the history of China’s metal and mining industry. The Bambas project is currently the world’s largest copper mine under construction; once operational, it will produce an average of approximately 450,000 tons of copper concentrate (containing copper) per year over its first five years—a figure that exceeds twice China Minmetals’ current copper production. Through this acquisition, China Minmetals will also become one of the world’s largest copper producers. Zhou Zhongshu, President of China Minmetals Corporation, stated that the acquisition of the Bambas project not only significantly enhances the quality of China Minmetals’ assets and its industry influence but also further accelerates the overall process of Chinese enterprises’ internationalization. It is reported that the final payment amount for the project’s closing was 70.05 hundreds of millions of U.S. dollars, consisting of equity contributions from the consortium and bank debt financing.