by Frik Els:
"Lima daily Gestion reports Chinese mining companies Minmetals, Chinalco, Shougang and Zijing Mining Group are planning to invest $7.4 billion in Peru over the next five years, making up a substantial part of overall mining investment projects expected through 2017.
"Shougang already works an iron mine in Marcona and recently announced an investment of $1.2 billion over the next five years to expand operations.
"Zijing Mining Group, which is advancing the Rio Blanco copper project in Piura, will spend $1.5 billion for the same period, while Minmetals will invest around $2.5 billion in the gold and copper project El Galeno, located in the Cajamarca region.
"Aluminum Corporation of China (Chinalco) has also announced an investment of $2.2 billion in the Toromocho copper project in the region of Junin.
"China's positive stance is in contrast to other foreign investors ..."