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Asarco to grant $1.68 million claim under hazardous substances cleanup claim settlement
By Caroline Salls
Pittsburgh, May 19 - Asarco LLC requested court approval of a hazardous substances cleanup claim settlement with the United States, the state of Idaho and the state's Department of Lands and Department of Environmental Quality, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of Texas.
According to the motion, Asarco owned and worked at the mines at The Triumph Mine Tailings Piles site in Blaine County, Idaho, from 1917 to 1923, and the Idaho Department of Labor owns a portion of the site, including land that underlies a tailings pile. The United States also owns part of the site.
Asarco said it no longer operates any properties at the site.
In 1999, the company, the state and the state's labor department entered into a consent order for cleanup at the site, which required Asarco and the labor department to finance and perform the cleanup.
According to the motion, the state has filed claims against Asarco in connection with the company's responsibilities outlined in the consent order.
Under the settlement, the state will have a $1.68 million general unsecured claim against Asarco, and the company will transfer the tract of land to the environmental quality department by quit claim deed.
In addition, the United States agreed not to file a claim against Asarco or to sue the company.
The United States has also agreed to pay $1 million to the state of Idaho Department of Lands to settle a related lawsuit.
Asarco, a Tucson, Ariz., mining company, filed for bankruptcy on Aug. 9, 2005. Its Chapter 11 case number is 05-21207.
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