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Tang Fuping Meets with Peruvian Ambassador Luis Quesada

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On May 11, Tang Fuping, Chairman of China Minmetals, met in Beijing with Luis Quesada, Peruvian Ambassador to China, and the two sides exchanged views on the development of China Minmetals in Peru.

Tang congratulated Luis Quesada on assuming his new office and extended a warm welcome to his delegation. Tang noted that China Minmetals has been committed to growing into a world-class enterprise in the field of metal minerals. After going through strategic recombination with MCC in 2015, the company have seen enhancement in both enterprise assets and output value, putting it on the 120th place on the Fortune Global 500. So far, the company has overseas agencies, resources projects and contracting engineering projects spreading over more than 60 countries around the globe.

Tang Fuping briefed on the investment of China Minmetals in Peru and the latest development of Las Bambas copper mine, for which he thanked the Peruvian government for its long-standing concern and support. He pointed out that Peru has great natural endowments of copper and zinc, which closely corresponds to the development strategy of China Minmetals. The acquisition of Las Bambas copper mine in Peru broke the record of Chinese metal mineral enterprises’ acquisitions abroad. As present, the copper mine is under sound operation and the price trends of products are promising. He hoped that with Mr. Ambassador working as the bridge, the Peruvian government could increase its support for the company’s exploitation and operation of mines in Peru. China Minmetals is willing to further contribute to the economic growth of Peru, promote the development of economy and trade of both countries and work to yield mutually beneficial results.

Luis Quesada appreciated Tang’s sincere welcome. He indicated that China Minmetals was the first enterprise he visited since he took the position. The company’s investment in Peru has been playing a significant role in the economic development of his country. In particular, its experience in maintaining good relations with communities has provided the government of Peru with some valuable reference to use. He noted that Peru has a market open to foreign investments, which is equipped with a mature legal system and a complete safeguards network of rights and interests. And he hoped that China Minmetals might increase its investments in Peru for infrastructure construction, railways and ports as well as hotels among others. The Peruvian Embassy in China is ready to serve as the bridge of communication and collaboration and to promote enthusiastically the company’s development in Peru. The Embassy would like to give support to China Minmetals for it to expand its scope of business, with Peru being the base, to the neighboring countries.

The two sides also held discussions on topics of common concern, such as the impact of local environmental policies on the development of the mining industry and the application of copper products in the field of new energy. Jiao Jian from the management of China Minmetals and Jaime Casafranca, Minister of the Embassy of Peru in China, attended the meeting. Xing Yan and Gao Xiaoyu, executives from Overseas Business Management Division of China Minmetals and China Minmetals Nonferrous Metals Co., Ltd, were also present.

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