The company was founded in 1789 with a share capital of 900,000 Pesos. This was divided into 3,600 shares of 250 Pesos each. By order of king Karl III. the company was set up to exploit and bring back the land and mineral resource in the Spanish Colonie Cuba. The company was the last of the great Real Compañia (royal companies). The company was active till the 1940th.