Meprecol failed to guarantee legality of exported gold

An investigation has revealed that the state-administered company Meprecol was unable to guarantee the legality of the gold it exported between 2017 and 2025. Managed by the Sociedad de Activos Especiales (SAE), the company faced severe failures in mineral traceability.

According to findings, Meprecol conducted payments to intermediary cooperatives, such as Coonekta, which were then withdrawn in cash. This practice broke the chain of custody, making it impossible to verify the origin of the gold or identify the ultimate beneficiaries. A forensic audit found no technical proof, metallurgical analysis, or physical evidence to confirm that the gold actually reached state facilities.

This follows a 2017 legal action by the Fiscalía, which initiated asset forfeiture against Meprecol after documenting 3.6 trillion pesos in money laundering. Despite the legal actions against its former representatives, the state continued to operate the company under the SAE, leading to the current lack of oversight and accounting irregularities.