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Las Bambas – Operated by MMG (China Minmetals), producing ~11–15% of Peru’s copper and tens of thousands of ounces of gold annually.
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Toromocho – Fully owned by Chinalco, China’s first major overseas greenfield copper mine.
Together, Chinese-controlled operations account for nearly 20% of Peru’s copper output.
Copper is not just wiring. It is EVs, grids, wind turbines, missiles, data centers.
Gold is not jewelry. It is financial ballast in a de-dollarizing world.
Where copper exists, gold often follows—especially in Andean porphyries.
China understands this. It planned for it two decades ago.
Venezuela Was Never Just About Oil
If oil were the only motive, Venezuela would not justify the risk.
The missing jigsaw piece is critical minerals.
Beyond oil, Venezuela sits on:
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