The ASARCO Trust has just entered into a contract with Mexican mining company Rio Tinto for the purchase of approximately 6,000 tons of copper matte. The matte is partially smelted copper ore that remained in the furnaces when the facility shut down in 1999. The matte also contains recoverable amounts of gold and silver. The metals in the matte are a recoverable product, not a waste. A contract is also being finalized with Rio Tinto for the purchase of approximately 2,000,000 pounds of scrap lead.
This agreement will result in both the return to productive use of the metals and a cash inflow of several million dollars for the Trust.
The copper matte will be crushed in Mexico and then sold to Chinese end users. The lead has been slated for use in the manufacture of automobile batteries. All money received by the Trust will be put to use in the remediation of the former smelter site, on such projects as the rehabilitation of Parker Brothers Arroyo.
Starting March 14th the material will be shipped off of the Site in covered trucks. It is anticipated that approximately 3 to 5 trucks per day will be leaving the site for the next 6 months.
The public can ask questions or post comments on the blog section of the website; the Trust will respond to all queries.
Roberto Puga
Custodial Trustee