Colorado to get $42 million from Asarco bankruptcy
November 24, 2009
DENVER – Mining sites in Colorado will receive $42 million for environmental cleanup projects as part of the bankruptcy organization plan for copper mining company Asarco LLC.
The Colorado attorney general’s office said Tuesday that Colorado’s share is part of a settlement that involves 19 states and more than 50 remediation sites.
Asarco filed bankruptcy in Texas in 2005. The federal government and 16 states then began settlement negotiations on various environmental claims.
The attorney general’s office says $16 million will go to clean up a former 89-acre smelting and refining site in north Denver, $4 million will go to former mining sites near Silverton, and $22 million will go to sites that include the California Gulch Superfund site and the Terrible Mine in Custer County.