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Associated Press - July 2, 2009 5:55 PM ET
NEWARK, N.J. (AP) - A company that once operated a 1,600-acre asbestos mine in Vermont has agreed to pay up to $300 million to clean up that site and nine others where hazardous materials were disposed.
The settlement with GI Holdings was announced Thursday by the U.S. Justice Department in Washington.
The company will pay for past and future cleanup costs at the former Vermont Asbestos Group Mine Site at Belvidere Mountain, where asbestos was mined from the early 1900s to 1993.
A federal complaint filed in New Jersey claims waste rock at the site is affecting streams and wetlands and could be releasing airborne contaminants.
Thursday's settlement also holds GI Holdings liable for potential cleanup costs at three contaminated sites near Linden, N.J.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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