| Grupo Mexico Dodges Mine Closure with $151 Million Toxic Spill Fund Wochit | |
| go to original September 11, 2014 |
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Grupo Mexico and its subsidiaries on Thursday dodged losing a concession to run one of the biggest copper mines in the world as long as they comply with government obligations following a toxic spill that include creating a $151 million clean-up fund.
The fund is far bigger than a $23 million reserve that Grupo Mexico had previously set aside for the clean-up at Buenavista copper mine. The government said Grupo Mexico could face fines totaling $3.37 million.
Economy Minister Ildefonso Guajardo told a news conference "If they meet obligations set by the authorities, production will continue,"
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