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Letter sent during Clinton administration to Peruvian Prime Minister
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This October 31, 1997, letter from Stuart Eizenstat, Undersecretary of State for Economic, Business and Agricultural Affairs in the Clinton administration, to Peru's Prime Minister Alberto Pandolfi Arbulo was written one month after the Peruvian Supreme Court agreed to review the Yanacocha case. The note at the top of this letter indicates that it was sent to Arbulo via "hand-carry" by Assistant Secretary of State for Western Hemisphere Affairs Peter Romero.
Mr. Alberto Pandolfi Arbulu,
Prime Minister,
Republic of Peru
October 31, 1997
Dear Mr. Minister:
I am writing to express the importance the United States attaches to a fair and impartial hearing of the case before Peru's Supreme Court involving the U.S. firm Newmont Gold Company, its Peruvian partner Compania de Minas Buenaventura, and the French Geological and Mining Bureau BRGM. I understand that the lower courts determined that Newmont and Buenaventura have the right to exercise their preemptive rights to acquire the interest of BRGM in Minera Yanacocha at a price of US$109.3 million.
Unfortunately, there are indications from within Peru and elsewhere of inappropriate attempts to influence the Court to rule in favor of BRGM. The United States is extremely concerned about these reports. This case is an important test of the investment environment in Peru. A politically tainted decision would adversely affect U.S. investment in Peru.
Potential investors tell me that effective legal and judicial remedies are important to their decisions to invest in any country. They will be watching the outcome of this case for assurances that the Peruvian Supreme Court reaches its decisions based strictly on the merits.
Very Truly Yours,
Stuart E. Eizenstat
Ambassador
UNITED STATES DEPARTMENT OF STATE
REVIEW AUTHORITY: OSCAR J OLSON
DATE/CASE ID: 15 OCT 2003 200203725
UNITED STATES DEPARTMENT OF STATE
REVIEW AUTHORITY: APPEALS REVIEW PANEL APPEAL
ACTION: RELEASED IN FULL
DATE/CASE ID: 18 MAR 2004 200203725