[CPEO-BIF] Asarco Everett, Washington smelter site

[Lenny Siegel <lsiegel@cpeo.org>]

[Someone on this list must know more about this. Asarco reportedly 
declared bankruptcy "after being overwhelmed by the cleanup costs." But 
it has just emerged from bankruptcy and agreed to make substantial 
($1.79 billion) cleanup payments. Is that enough money? How does this 
differ from the auto industry bankruptcies, where at least one of the 
big three U.S. automakers (Chrysler) appears to have washed it hands of 
its environmental liabilities at closed plants. - LS]


Asarco must pay to clean Everett mess

By Debra Smith
Everett Herald (WA)
December 11, 2009


EVERETT - For decades, people in north Everett have lived with a toxic 
legacy.

A long-ago smelter left behind soil laden with arsenic. While the worst 
contamination has been cleared away, the area has never been completely 
set right.

That toxic legacy may be near its end after an announcement Thursday 
that the state will receive $44.7 million to clean up contamination in 
Everett.

...

The mining company paid a total of $1.79 billion to settle environmental 
claims it faced during the company's bankruptcy proceedings. Asarco 
operated copper, lead and other heavy metal mines and smelters across 
the West for the past century, but most have closed and require 
extensive remediation.

The company sought bankruptcy protection four years ago after being 
overwhelmed by the cleanup costs.

...

For the entire article, see
http://www.heraldnet.com/article/20091211/NEWS01/712119883&news01ad=1

--


Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org



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