| Minmetals China announced in April 14, that it has put pen to an agreement to buy Glencore Xstrata's Las Bambas copper mine project in Peru for 5.85 billion U.S. dollars. The project marks the largest external metal mining purchase by a Chinese enterprise.
Located in the Apurimac region in southern Peru, the Las Bambas project is the largest copper mine under construction in the world. On completion, it is expected to produce about 450 thousand tons of fine copper each year. Post-acquisition, China Minmetals will become the largest Chinese enterprise in the the production of copper, and squeeze into the global top 10 of copper producers...............................................Full Article: Source
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