ASARCO News
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The U.S. Supreme Court left intact federal limits on sulfur dioxide emissions from power plants and other industrial facilities, turning away an appeal by a copper- producing unit of Grupo Mexico SAB.
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BankUnited Financial Corp., the holding company whose bank was taken over by regulators on May 21, filed for Chapter 11 protection the next day in Miami, listing assets of $37.7 million against debt totaling $560 million.
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A unit of Vedanta Resources Plc , the mining company controlled by billionaire Anil Agarwal , is seeking to defeat a lawsuit over its failure in 2008 to complete the $2.6 billion purchase of copper-mining company Asarco LLC.
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The lawyers who previously attempted without success to stop the Chrysler LLC sale process have new clients and are again seeking to block the government-backed rescue that pays some unsecured creditors more than secured noteholders.
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Grupo Mexico SAB’s Asarco unit asked a U.S. judge to throw out the $219.5 million settlement of its Omaha, Nebraska, lead-contamination case, claiming the true source of the pollution was concealed by a U.S. Environmental Protection Agency official who is under criminal investigation.
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Grupo Mexico SAB’s Asarco LLC won $82.8 million in a lawsuit against copper producer Sterlite Industries (India) Ltd. over a failed deal to buy Asarco out of bankruptcy, less than the $2.28 billion it was seeking.
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A U.S. unit of Grupo Mexico SAB , Mexico’s biggest mining company, accused the U.S. Environmental Protection Agency of destroying evidence showing a company smelter didn’t cause lead pollution in Omaha, Nebraska.
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Grupo Mexico SAB’s U.S. mining unit must pay $122.4 million in fees and $6.5 million in expenses to the Houston law firm the Mexican copper producer spent six years fighting in federal courts in Texas.
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Sterlite Industries (India) Ltd., the nation’s largest copper producer, headed for the highest in six months in Mumbai trading after a court ruling on the damages to be paid for breaking an agreement to buy Asarco LLC.
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Grupo Mexico SAB , the nation’s largest mining company, said it plans to merge its Asarco LLC and Southern Copper Corp. units into a single business to save costs after regaining control of Asarco late last year.
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