China's Zijin plans $1.5 billion investment for La Arena copper mine

‌China's Zijin ​Mining Group is seeking new ‌opportunities in Peru as it prepares to invest about $1.5 billion to ‌expand its La Arena ‌mine and increase copper production in the South American country, ⁠a company ​executive ⁠said on Tuesday.

Luo Yuchuan, CEO ⁠of the La Arena mine ​controlled by Zijin, told Reuters that ⁠despite the "rather unique" political situation ⁠in ​Peru, the company believes the country maintains fiscal ⁠and financial stability and key ⁠mining ⁠potential for investment in the sector. (Writing by Leila ‌Miller; ‌editing by Cassandra ​Garrison)