$1.79 Billion Paid in Record ASARCO Settlement

"As a result of the largest environmental bankruptcy in U.S. history, $1.79 billion has been paid to fund environmental cleanup and restoration under a bankruptcy reorganization of American Smelting and Refining Company, ASARCO, federal officials announced today.ASARCO LLC is a mining, smelting, and refining company based in Tucson, Arizona that mines and processes primarily copper.Parent corporation Grupo Mexico is providing the $1.79 billion to resolve the ASARCO's environmental liabilities from operations that contaminated land, water and wildlife resources on federal, state, tribal and private land in 19 states."Environment News Service had the story Dec. 10, 2009.

Source: ENS, 12/14/2009