On November 14, 2024 (local time), Chinese President Xi Jinping published a signed article in Peruvian media outlet - El Peruano under the title "China-Peru Friendship: Setting Sail Toward an Even Brighter Future" during his state visit to Peru in Lima, where he also attended the 31st APEC Economic Leaders' Meeting. Xi noted that every time he came to Peru, he was overwhelmed by the friendly sentiments of the Peruvian people toward the Chinese people. As said by President Xi, the bond of our friendship and affection has become stronger through China-Peru win-win cooperation. Especially since the elevation of our relationship to a comprehensive strategic partnership in 2013, our ties have grown stronger and our results-oriented cooperation has been fruitful, bringing tangible benefits to our people. China has been Peru's largest trading partner and largest export market for 10 consecutive years. Last year, Peru's exports to China accounted for 36 percent of its total exports. The Las Bambas Copper Mine, a project with investment from Chinese enterprises, contributes to about 1 percent of Peru's GDP, creating tens of thousands of job opportunities.

Previously, during his meeting with Peruvian President Dina Ercilia Boluarte Zegarra in Beijing on June 28, 2024, President Xi Jinping specifically pointed out that major cooperation projects such as the Las Bambas Copper Mine had played an important role in Peru's economic development and improvement of people's livelihoods.

The Las Bambas Copper Mine mentioned twice by President Xi is an important overseas mine under China Minmetals. This world-class copper mine has also reached an important milestone in its development course this month. On November 8, 2024, the Las Bambas Copper Mine celebrated its 20th anniversary and the 10th anniversary of its acquisition by MMG Limited in Lima, Peru. This moment was witnessed by Chinese and Peruvian political leaders and senior leaders of China Minmetals, CNIC Corporation Limited and CITIC Metal Co., Ltd., as well as representatives of local enterprises and people from all walks of life.

Wang Jiezhi, Deputy Party Group Secretary and Board Director of China Minmetals Corporation, stated in his welcome speech that the Las Bambas Copper Mine, as a typical project of China-Peru cooperation, had witnessed the deep cooperation and win-win results of the two countries in resource development, technological exchanges and cultural communications. He said that China Minmetals had always followed the principle of "extensive consultation, joint construction and shared benefits" and stayed committed to promoting green, safe and sustainable development of the mining industry, thus having gained wide recognition at home and abroad. Wang also stressed that the Las Bambas Copper Mine was not only a model of China-Peru economic cooperation, but also a vivid portrayal of China-Latin America friendly cooperation under the Belt and Road Initiative.

Wang expressed his sincere gratitude to all colleagues who had made contributions to the Las Bambas Copper Mine. Looking ahead to the future, Wang Jiezhi emphasized that China Minmetals would continue to deepen all-round cooperation with Peru and other international partners, promote the transformation of the Las Bambas Copper Mine towards an intelligent, green and service-oriented mine, and achieve the harmonious development of resource exploitation and environmental protection. He hoped that everyone would work together to open a new chapter in the next 20 years.

Peruvian Prime Minister Gustavo Adrianzen attended the celebration and delivered a speech, expressing his gratitude for outstanding contributions made by the Las Bambas Copper Mine and warmly welcoming China Minmetals' investment in Peru. He noted that the Las Bambas Copper Mine had not only brought significant economic benefits to Peru, but also improved the quality of life of local residents by actively fulfilling social responsibilities. He said that the Peruvian government would continue to optimize the investment environment and provide more convenient and efficient services for international investors. In this regard, he stated that the Peruvian government was looking forward to working together with international enterprises such as China Minmetals to create a more prosperous future for Peru.

Xu Jiqing, Party Committee Secretary and Chairman of China Minmetals Nonferrous Metals Co., Ltd. and Chairman of MMG Limited, pointed out that the Las Bambas Copper Mine had exerted a profound positive impact on Peru's economy and the mining industry of Apurimac Region and Peru at large. He noted that the copper mine contributed to about 1 percent of Peru's GDP, becoming an important driving force for the regional economic development. He also noted that the copper mine was not only a key pillar in the business of MMG, but also demonstrated the deep cooperation between the two countries in the mining field. Besides, he stressed that the copper mine which upheld the principle of "mining for a better future" would continue to promote sustainable development and bring more benefits to its employees, partners and community residents.

Peru's former Minister of Energy and Mines Rómulo Mucho noted that the Las Bambas Copper Mine, as one of the leading projects in the global mining industry, had played an important role in consolidating Peru's position as a global copper producer, and also had positive significance in boosting Peru's mining GDP, creating job opportunities, advancing fiscal transfer and promoting the development of Apurimac Region.

Zhao Jing, Executive General Manager of MMG in Americas and General Manager of Las Bambas, specifically mentioned in his speech the critical moment when the Las Bambas Copper Mine started paying the income tax in 2021, which marks that the copper mine has entered a new stage of giving back to the society. In recent years, the copper mine has actively fulfilled its social responsibility and made positive contributions to the local economy and social progress through a series of public welfare projects that benefit community residents.

On the occasion of its 20th anniversary, the Las Bambas Copper Mine signed a cooperation framework agreement and the Social Contract for Education with the Peruvian Ministry of Education in the presence of Peruvian President Dina Boluarte, Prime Minister Gustavo Adrianzen and Chinese Ambassador to Peru Song Yang. According to the agreement, the Las Bambas Copper Mine will launch a package of aid projects worth 134 million soles (equivalent to 255 million RMB) to help 14 educational institutions in Cotabambas Province rebuild and improve their educational infrastructure, and invest an additional 50 million soles (equivalent to 95 million RMB) in the training of local teachers and principals. This aims to change the current situation where only one-fifth of local students can reach satisfactory levels in reading comprehension and mathematics, and bring educational benefits to the public.

In addition, China Minmetals first released the Peru Country Sustainability Report at the 20th anniversary celebration of the Las Bambas Copper Mine, showcasing the company's key performance in investing, building and operating the Las Bambas Copper Mine in Peru and fulfillment of social responsibilities in all respects. It is pointed out in the report that since it was put into operation in 2016, the Las Bambas Copper Mine has not only contributed a large amount of tax revenue to the Peruvian government, but also brought tangible benefits to the local residents with a series of environmental protection and social responsibility projects, demonstrating a firm commitment to sustainable development and environmental protection.

A commemorative issue titled The Heart of Bambas was also released during this celebration. From the perspective of project participants, the commemorative issue vividly revealed the Las Bambas Copper Mine' unremitting efforts in promoting social, economic, educational and medical development over the past 20 years.

Looking ahead to the future, China Minmetals will resolutely live up to the expectation of "deepening friendly relations through mutually beneficial and win-win cooperation", and make greater contributions to the prosperity and progress of the mining industry of Peru and the world at large.