Press Release Statement Regarding the Stack Demolition Delay

03 NOV 2011

The ASARCO Trust has granted a one-year reprieve to delay the demolition of the stacks due to a segment of the community’s interest in preserving the historic structures. The one-year delay comes with the following conditions:

  1. There needs to be a legal entity established to take possession of the stacks.
  2. The legal entity must demonstrate the financial strength to undertake ownership of the stacks. (It is estimated to cost approximately $14 million over the long term to preserve and stabilize the tallest stack on the Asarco site; there has been no evaluation of the costs to preserve the shorter stack).
  3. The legal entity must have the ability to indemnify the Trust and the Trust beneficiaries.
  4. The entity must demonstrate that both stacks have the structural integrity necessary to remain on the site. This demonstration must be performed by a professional structural engineer that is licensed to practice in Texas, and the engineer’s report must be stamped.

All of these conditions must be accomplished by November 4, 2012 – otherwise, the stacks’ demolition will go forward. Prior to the reprieve, the Site Trustee had intended to save the bottom 15 feet of the stack and create a memorial.

The Trust realizes that the stacks are a controversial issue, and that a one year timeline offered by the Trust last year for the community to offer a plan to save the stacks has come and gone. However, the Trust has committed to solicit and incorporate community input as it goes about fulfilling its mission, and we feel this reprieve is in keeping with that commitment.

The remediation work will continue and will not be slowed down by the reprieve.

All public emails received by the Trust regarding this matter will be posted on the Custodial Trust’s website at www.recastingthesmelter.com > Blog.

Roberto Puga

Custodial Trustee

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