Wednesday, March 18, 2009

Asarco settlement for Arizona claims

Asarco seems to be trying to settle all the outstanding environmental claims against it before the bankruptcy court makes its final decision on its sale to Sterlite Industries.

As part of the $1.1 billion settlement plan, the company has "set aside $233.8 million to pay for remediation and closure costs and $27.5 million for administrative costs associated with non-operating mines, including ones in Arizona, New Mexico, Colorado, Utah and Arkansas," according to the Arizona Republic.

The company signed a settlement deal with the governor and attorney general of Montana on Monday for 4 sites in that state.

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