| Peru is set to become the world’s second-largest copper miner, behind neighbouring Chile, thanks to a $20bn pipeline of Chinese mining projects, according to senior officials in Lima. Last month’s $7bn acquisition of Glencore’s Las Bambas copper project in Peru by China Minmetals’ MMG subsidiary has reinforced the links between the two countries, as Beijing seeks to secure more resources to drive economic growth.
MMG’s Las Bambas deal means Chinese backers are now behind one-third of all Peru’s new mining investments by value, estimated by the country at $61bn...............................................Full Article: Source
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