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Hecla Mining (NYSE:HL) paid the U.S. Government $77 million to settle a suit involving the Bunker Hill Superfund site in the Coeur d’Alene Basin.
The United States Attorney Wendy J. Olson made the announcement on Tuesday. The money will be used to pay for clean-up activities, securing natural resources, and restoring critical habitats to fish and wildlife in the Coeur d’Alene River Basin.
Hecla Mining is also on the hook for an addtional $42 million for clean up costs which will have to be paid by August 2014. Hecla has also paid damages to the Coeur d’Alene Tribe and the State of Idaho.
“Hecla’s payment marks the largest collection ever posted by the United States Attorney’s Office in the District of Idaho,” said United States Attorney Wendy J. Olson in a statement.
“This historic recovery to resolve one of the largest cases ever filed under the Superfund statute compensates the United States for more than three decades of clean-up efforts, and establishes a strong basis for future cooperation between Hecla Mining Company, the tribe, the state, and the federal government.”
According to the EPA, the Bunker Hill site is one of the largest environmental and human health cleanup efforts in the U.S.A. Mining waste, amounting to an estimated 70 to 100 million tons, is spread throughout streams, rivers and lakes. The high levels of lead are a public health risk to pregnant women and young children.
The Bunker Hill lead smelter operated for over 60 years and closed in 1982. When the mine was shutdown, it employed close to 2,000 people.
Image of residential yard cleanup from the EPA. Soils above 1000 ppm lead are generally removed to a depth of one foot and replaced with clean soil and grass.
