Judge lets Asarco sue Mexican owners

A federal judge has refused to throw out a lawsuit filed by Asarco against its Mexican owners in a ruling that eventually could help the bankrupt U.S. mining and smelting company recover billions of dollars to help pay off environmental and asbestos-related claims, including hundreds of millions in claims from Washington state.

The lawsuit alleges Americas Mining, a subsidiary of Grupo Mexico, S.A. de C.V., “fraudulently” stripped Asarco LLC of its lucrative holding in two Peruvian copper mines just as Asarco was teetering on the edge of bankruptcy.”*

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