The recent fall of the copper price caused by the U.S.-China trade tensions is not stopping investment in new copper projects. Just over the last months, Chinalco has started the expansion project of its Toromocho mine, east of Lima; Minsur has been working on the final engineering and financing of the Mina Justa copper project; and finally, and more importantly, Anglo American has confirmed that it is going ahead with the Quellaveco copper project in Moquegua, after selling an additional stake to its Japanese partner. These developments reflect the robustness of the current mining cycle. In Peru in particular, while total mining investment already went up by 15% last year, reaching $4.9 billion, the government expects a further 20% increase in 2018.