On April 11, Chairman of China Minmetals He Wenbo met with Fortunato Brescia, Vice Chairman of Breca Group and Chairman of Minsur. The sides had an in-depth exchange of views on the development of Peru’s metals and mining industry and how to boost exchanges and cooperation.
Mr. He extended welcome to the visiting delegation. As he said, President of Peru Pedro Pablo Kuczynski and his predecessor Ollanta Humala have played an active role in cementing the China-Peru ties, providing an enabling environment for Chinese enterprises to invest and operate in Peru. Peru is of great significance to China Minmetals.
According to Mr. He, following the reorganization of China Minmetals and MCC in 2016, China Minmetals’ total assets reached USD 110 billion, including USD 35 billion outside China, and its revenue registered USD 65 billion. China Minmetals operates in a wide range of fields, with metals and mining as the mainstay. In the field of metals and mining, its operations cover the entire chain of business from the identification of mines to exploration, design, construction, mining, processing, smelting, transportation and trading. It boasts copper, zinc and nickel mines in Peru, Australia, Africa and other parts of Asia. Moreover, China Minmetals operates on a rather large scale and has great strengths in such fields as finance, real estate, and infrastructure. In particular, MCC Group is an internationally competitive player in the field of infrastructure.
China introduced many effective governance policies since the 18th CPC National Congress was concluded, Mr. He said. On the whole, the Chinese economy is growing quite well. The focus is not simply fast growth but better quality of the economy. Therefore, China will see its economy grow in a steady yet healthier and more sustainable way. Given the big size of the Chinese economy, the demand for infrastructure will rise sharply during the process of transformation, which means there is surely a market for metals.
Mr. He noted that China Minmetals considered social responsibility very important. Now China Minmetals is working to make progress on two fronts. One is to see regional partners for better development while the other is to improve the quality of assets and efficiency. Breca Group has a long history and great strengths so China Minmetals is ready to make one step forward in the exchanges and cooperation with Breca Group.
Mr. Brescia thanked Mr. He for the warm hospitality and looked back at the history of Breca Group. Now Breca Group is a wholly-owned Peruvian company with its scope of business covering finance, agriculture, fisheries, mining, real estate and hotels. Mr. Brescia also gave a detailed introduction to the metal mines and resources under the Group and expressed his interest in boosting the exchanges and cooperation with China Minmetals.
Juan Luis Kruger, CEO of Minsur and Vice President of Peru’s National Society of Mining, Petroleum and Energy (SNMPE), talked about the characteristics of Peru’s metals and mining industry and offered constructive suggestions, based on specific projects, about China Minmetals’ investment in Peru’s mining sector from the perspective of the sector’s sustainable development. As Mr. Kruger said, the meeting gave Breca Group a chance to gain a deeper understanding of China and its copper mine market, Breca Group would like to establish friendly ties with China Minmetals, and the two sides would have many opportunities for cooperation in the future. In addition, SNMPE will do its best to help China Minmetals grow in Peru and two sides should work together for the better future of Peru’s mining sector.
The meeting was also attended by Xue Fei, General Manager of Strategy & Planning Division at China Minmetals, Gao Xiaoyu, Director and General Manager of China Minmetals Non-ferrous Metals Co. Ltd., and Non-Executive Director of MMG Limited, as well as Zhao Jing, Deputy General Manager for Copper Division at China Minmetals Non-ferrous Metals Co. Ltd.
