The Justice Department announced that American Smelting and Refining Company, LLC (ASARCO), as part of its bankruptcy reorganization plan, will pay $1.79 billion to fund environmental cleanup and restoration at its sites and former sites in 19 states: Arizona, Alabama, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Kansas, Missouri, Montana, Nebraska, New Jersey, New Mexico, Ohio, Oklahoma, Texas, Utah, and Washington.
ASARCO is a leading producer of copper and one of the largest nonferrous metal producers in the United States. It has been in business for 110 years and filed for bankruptcy protection in 2005. It is now based in Arizona and is responsible for sites around the country that are contaminated with hazardous waste. The funds will be paid to federal and state governments and other groups that have cleaned-up or will clean up hazardous waste for which ASARCO is responsible.
To read the Department of Justice Press Release click here.
Carlos L. McDade, Esq., L.L.M. (Environmental Law)