Peru expects less investments in mining industry this year

Peru will attract around 6 billion U.S. dollars in mining investments in 2016, 20 percent lower than last year, a Peruvian official said Friday.

The decrease was caused by the persistently low prices of raw materials in the global market in recent years, Vice Minister of Mines Guillermo Shinno told the El Peruano daily.

Despite the slump, the mining industry will still be important in helping the Peruvian economy grow four percent this year, Shinno said, adding that sectors such as metallurgy, energy, transport and finance all benefit from the mining industry. Endi