Asarco parent attempting to regain control, will not restart El Paso smelter

By Caroline Salls

Pittsburgh, Jan. 24 - Asarco LLC parent Asarco Inc. will not attempt to restart the subsidiary's El Paso, Texas, copper smelter or renew the air permit for the facility if it regains control of Asarco LLC, according to a news release.

Asarco Inc., which owns 100% of the equity of Asarco LLC, said it is looking to regain control of the business. Although Asarco Inc. does not currently control Asarco LLC, the parent company said it has been active in Asarco LLC's bankruptcy case and is trying to become more involved in the subsidiary's decisions.

In addition, Asarco Inc. said it will have Asarco LLC work with the community and the appropriate regulatory agencies to remediate environmental contamination at the El Paso site if it regains control of the company.

According to the release, the smelter has been dormant since 1999, and Asarco Inc. said it does not fit into its overall business strategy.

Asarco LLC, a Tucson, Ariz., mining company, filed for bankruptcy on Aug. 9, 2005 in the U.S. Bankruptcy Court for the Southern District of Texas. Its Chapter 11 case number is 05-21207.

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