Three green groups seek review of Vedanta’s Asarco dealJune 18th, 2008 - 9:10 pm ICT by IANS
New York, June 18 (IANS) In continuing difficulties for Vedanta Resources’ takeover bid of US copper mining giant Asarco, three leading green groups have urged the US attorney general to review the environmental record of the London-based metals and mining major as well as of other bidders. In their joint letter, Sierra Club, Environmental Integrity Project and Public Citizen/Texas Office have expressed concerns over support by the US Department of Justice (DOJ) for Asarco’s sale to Vedanta’s Indian subsidiary, Sterlite Industries, without assessing the environmental record of Vedanta and other bidders.
The groups find it troubling that a DOJ representative told the court that Vedanta’s environmental record based on lower Indian environment standards should not be a “dispositive disqualifying factor”, according to a press release Tuesday.
The letter has urged DoJ to proceed with caution before turning over the century old American Smelting and Refining Company (Asarco)
Tags: all creditors, asarco, copper mining, environment standards, environmental grounds, environmental integrity, environmental record, gabrielle giffords, grupo mexico, indian environment, indian subsidiary, integrity project, operating assets, public citizen, raul grijalva, refining company, takeover bid, us attorney general, us bankruptcy court, vedanta resources