This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hearing To Determine Whether Canadian Mining Giant Will Be Held Responsible For Environmental Cleanup Under U.S. Law

"Teck Metals has already acknowledged that it released millions of tons of toxic pollution into Washington state, and we feel confident the federal court will find that U.S. cleanup laws apply to Teck," said Jim Pendowski, Ecology's Toxics Cleanup Program manager. "The law has consistently been on our side, and making American taxpayers bear the burden of cleanup costs doesn't make sense."

At today's hearing, evidence showed that Teck used the smelting site located on the Columbia River to discard waste, which is expensive to dispose of, and allowed it to flow downstream.  Additionally, evidence was presented showing that:

  • From 1920 to 1997, Teck discarded 10.1 million tons of slag, containing 130 tons of cadmium, 2,000 tons of arsenic, 30,000 tons of copper, 14,000 tons of lead and 390,000 tons of zinc by dumping it into the Columbia River. 
  • Teck conceded that its sewer effluent discarded to the Columbia River from 1923 to 1997 contained more than 200,000 tons of hazardous substances including mercury, cadmium, arsenic, copper, lead and zinc. 
  • Teck knew its wastes were reaching and impacting the Upper Columbia River in the United States and Teck recognized it faced potential claims based on disposal of its wastes. However, profits were "excellent" - $100 million per year in the 1980s - so the company continued to discard slag at a rate of 400 tons per day, and sewer effluent flowed from its facility 24 hours a day. 

Today's hearing focused on the two remaining contested legal matters – whether the court has personal jurisdiction over Teck, and whether Teck's actions constitute arrangement for disposal of hazardous substances under federal environmental law.

"It's time for Teck to finally be held accountable for its actions," Sirois said. "We are hopeful this decision will benefit future generations—not just Tribal members but everyone that uses the Columbia River.  It will present a clearer path for the United States to deal with the remediation of the Columbia River under U.S. law and that the Tribes, as a sovereign entity, will participate in the process to thoroughly investigate and clean up the river system.  "

A decision on this hearing is anticipated before the end of 2012.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,050.68 -29.46 -0.16%
S&P 500 2,114.36 -3.33 -0.16%
NASDAQ 5,074.0630 -18.0220 -0.35%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs