Anglo American Plc started developing large copper mine in Peru, while it rewarded investors with first-half profit growth, Bloomberg reports.

Mining company that almost collapsed during commodity crisis two and a half years ago, now actively invests into growth, while bigger rivals focus on returning money to investors.

Project Quellaveco in Peru will require investments at the level of $5 billion. Profit of Anglо in the first half of the year grew by 11% to $4,58 billion.

Large mining companies in copper sector are trying to get access to new deposits, alhtough metal is trading at one year low. They expect that power grids expansion and electric vehicles boom will result in demand increase, while supply is still resticted.