Minpeco
From Wikipedia, the free encyclopedia
| Company type | Private – S.A. |
|---|---|
| Industry | Mining |
| Founder | Government of Peru |
| Headquarters | , |
Minpeco S.A. is Peruvian mineral company. It was created as a state-owned company, Empresa Comercializadora de Minerales or Minero Perú Comercial,[1] in the 1970s, and had a monopoly on the export of minerals and ore concentrate produced by large-scale mining in Peru.[2] The company emerged after a series of mining law reforms in Peru in 1969 and 1970 which established the Peruvian state as the dominant actor in the mining industry.[1] In 1984 it had agreements to process ore in Complejo Metalúrgico de Karachipampa in Bolivia.[3]
In 1988 Minpeco obtained a compensation from the Hunt brothers (Nelson Bunker Hunt, William Herbert Hunt and Lamar Hunt), who were found responsible for civil cases of conspiracy to corner the market in silver.[4] The company was to receive $134 million in compensation from the brothers as a compensation for lost money.[5][6] Minpeco had originally sought $450 million in compensation.[7][8]
Minpeco was privatized in 1992 during the government of Alberto Fujimori.[9][1]