Group 1 - Peru is the world's second-largest copper producer, with annual production consistently above 2.4 million tons, and holds significant mineral reserves including 12% of the world's copper reserves [1][2] - The country has seen limited new mining projects in the past five years, with only two new mines, Quellaveco and Mina Justa, coming online, reflecting a lack of capital expenditure in copper mining [2] - Peru's economy has shown resilience, recovering from a -10.9% GDP growth in 2020 due to the pandemic, with growth rates of 13.4% in 2021 and 2.7% in 2022, and a projected growth of 3.1% in 2024 [3] Group 2 - The National Infrastructure Plan (PNIC) aims to address a long-term infrastructure gap of approximately $110 billion from 2019 to 2038, with 52 priority projects totaling $28.5 billion expected to be completed by 2025 [3] - Chinese companies control two major mines in Peru, with the Toromocho project being the first large-scale copper mine developed by a Chinese enterprise overseas, expected to produce 300,000 tons of copper concentrate annually after expansion [3] - The Las Bambas project, one of the largest copper mines globally, is a joint venture involving MMG and other partners, with an expected annual production of 280,000 to 320,000 tons of copper concentrate [3]