IKN

Every why hath a wherefore

Regarding Nino Coppero

In
the latter part of last year IKN ran a series of posts on and around a
case of insider trading at HudBay done by one Nino Coppero, who was at
that time one of the main players insider HudBay Peru and central to the
development of the Constancia copper mine in the South of the country.

Last
week I got to meet Nino Coppero when we sat down together and talked
for a couple of hours on the case, the talk surrounding it, how it all
happened and what came of it all. It was (as you might expect) a very
interesting meeting and not least because of how it came to be. That’s
because Coppero did something that always gets my attention in the
mining world, he contacted me out the blue and asked if I’d like to
talk. Your humble scribe, the IKN blogger has noted that over the years
and with very few exceptions the “bad guys” in mining, the cockroaches
that don’t want any light shed upon their activities, never want to
talk, never reach out, always avoid contact with IKN (unless through
their overpaid lawyers and that never does them much good). To the
flipside, I’ve lost count of the number of “good guys” in the industry
who’ve dropped me a line out the blue over the years.

Before
meeting Coppero last week I brushed up on my DD on him and asked a few
people for opinions on the guy. Those that knew him in his HudBay days
told me he he was a “big I am”, arrogant, full of himself and how
wonderful he is etc etc. But the person I exchanged with at the meeting
last week was far from that and even Coppero admitted to me that yes
indeed, in the past he was like that. What’s clear is that the events of
the last 12 months might have caused him career problems but they’ve
also given him a necessary and overdue lesson in life, one that he’s
learned. He’s still no Mahatma Ghandi but there was no mistaking that
Nino Coppero has turned into a pretty decent human being. And he’s now
going about re-building his business life from a much stronger platform.

We
also talked in a lot of detail about his case and though he readily
admitted his full responsibility on the central matter of the inside
trade he ran (which for what it’s worth made him a lot less money than
the rumours at the time made out), it’s now evident that a lot of the
talk and gossip that swirled around the central point and core fact was
either exaggerated or just plain false.

What
I saw in Coppero last week was a guy who’s made a mistake but deserves a
break. He’s not one of the many market parasites and scumbags out
there, far from it in fact, he’s one of the people who’s worth helping,
worth saving and he deserves a leg up rather than being kicked while
down. So for the reasons laid out today, last week I did something that
I’ve never done before in the years and years of posting here at IKN; I
voluntarily deleted all the posts that mentioned Nino Coppero and his
case. The idea is that now, when you Google his name, you don’t get
assailed on what he did as a matter of fact or the surrounding
circumstances of what he did which weren’t all they are cracked up to
be. Along with this post today, it’s the least IKN can do for the guy.
x

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