Hindsight is definitely 20/20. Sure seems like management was of the theory that VZ would still do the right thing, albeit in the particularly touchy and whimsical manner in which VZ seems to do business. Too risky? Yes, probably. But I think dealing with this country is more of an artform and the business/political landscape is much different than dealing with western or European governments. Have to also remember that Hugo himself was still saying he didn't have plans to nationalize the minining industry as long as the mining companies played ball with VZ. I think KRY did everything it could to play ball on VZ's terms and still got the shaft.
http://babelfish.yahoo.com/translate_url?doit=done&tt=url&intl=1&fr=bf-home&trurl=http%3A%2F%2Fwww.terra.com.pe%2Fnoticias%2Fnoticias%2Fact715087%2F.html&lp=es_en&btnTrUrl=Translate
Oh how things have changed, eh?