Guo Wenqing and President Kuczynski

Guo Wenqing and President Kuczynski

Guo Wenqing at a small reception dinner

On the eve of the APEC Business Leaders Summit, Peruvian President Kuczynski met at the Presidential Palace on November 17 a delegation headed by Minmetals General Manager & Leading Party Group Deputy Secretary Guo Wenqing, who was visiting Las Bambas in Peru and attending the APEC Business Leaders Summit.

President Kuczynski extended his welcome to Guo Wenqing and his delegation, and highly appreciated Las Bambas Project for its achievements and its implications for economic growth in Peru. Noting the important role Minmetals has played in economic exchanges and cooperation between Peru and China and the important contributions the Las Bambas Project has made to Peru’s economic development, he expressed the determination of the Peruvian government to facilitate the project. In the face of the recent challenges for the project, which had been caused by many reasons, he said, the government would first address traffic problems through long-term planning, and the mid- and long-term planning for economic development in surrounding communities would be completed by mid-December, which would be implemented once evaluated; all relevant government departments will always provide full support to the Las Bambas Project to ensure its normal production and stable operation. Drawing on the practices of other mining companies, President Kuczynski also proposed specific recommendations for strengthening the management of community relations in high-altitude mining areas.

Guo Wenqing expressed his gratitude to President Kuczynski for meeting the delegation of Minmetals on the eve of the APEC Business Leaders Summit amidst his extremely busy schedule. Guo Wenqing said that both the Chinese government and Minmetals attach great importance to the Las Bambas Project and spare no effort in the operation of the project, regarding it as a window to China’s overseas investment and the most important overseas mining assets of Minmetals. According to Guo Wenqing, since the restructuring of Minmetals and MCC, the two “Fortune 500 companies”, Minmetals has been devoted to becoming China’s best and a world-class metal and mining enterprise group, and the Las Bambas Project is the first step towards this ambitious goal. After visiting the mines of Las Bambas, Minmetals has every confidence in the management situation and prospects of the project. In the face of the current market downturn and mounting operating pressure, Las Bambas Mining Company still actively fulfills corporate social responsibility and makes huge investment to help improve community conditions and boost economic development. It is hoped, therefore, that the Peruvian government will provide firm support for the project.

After the smooth operation of the Las Bambas Project, Minmetals will, under the planning and guidance of the Peruvian government, actively explore new opportunities in such fields as infrastructure, real estate development and transportation construction, explore new market opportunities, and position Peru as the strategic support for the business of Minmetals in Latin America, so as to continue expanding its business operation in Latin America, said Guo Wenqing. Guo Wenqing also introduced the intention of Minmetals to enter into a memorandum of understanding for cooperation in infrastructure construction with the government of Andes region of Peru at the APEC Business Leaders Summit.

The two sides also exchanged views on issues relating to copper projects in North Peru. President Kuczynski showed great interest in the strategic restructuring and new strategic positioning of Minmetals, fully agreed the vision of Minmetals to give top priority to the development in Peru through the Las Bambas Project to expand its development in Latin America, and once again pledged full support for Minmetals from the current government.

On the evening of the same day, Guo Wenqing also attended a small reception dinner hosted in honor of those present at the APEC Business Leaders Summit, including President Kuczynski, Prime Minister Zavala and relevant government ministers.

Peru's Energy and Mines Minister Gonzalo Tamayo and Minmetals Deputy General Manager and Party Member Jiao Jian also attended the events.