ARCO, BP America To Pay Up To $20M After Nevada Contamination Suit

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“Residents of a small Nevada city won up to $20 million in a class action lawsuit that claimed Atlantic Richfield Company and its parent corporation allowed a defunct copper mine to leak harmful chemicals into nearby soil and drinking water,” reports Reuters.

“Atlantic Richfield (ARCO) and BP America, part of BP Plc , agreed to pay $6.3 million in property damages and between $6.5 million and $12.5 million to reroute water supplies to select residents of the city of Yerington, about 80 miles (129 km) southeast of Reno, to settle the case, according to a lawyer for the plaintiffs.”

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Following a two-day decline on the LME, the cash price of primary copper climbed up 0.9 percent to end at $7,199 per metric ton on Thursday, November 7. After falling for two days, the copper 3-month price rose 0.6 percent on the LME to $7,198 per metric ton.

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The price of US copper producer grade 122 weakened by 0.5 percent. The price of US copper producer grade 110 declined 0.5 percent. The price of US copper producer grade 102 saw a 0.5 percent decline. The Japanese copper cash price rose 0.1 percent after a two-day drop.

Chinese copper closed mixed on Thursday. Chinese copper bar prices saw a 0.3 percent decline. The cash price of Chinese copper declined 0.3 percent. The price of Chinese copper wire showed little movement on Thursday. The price of Chinese bright copper scrap saw essentially no change for the fifth day in a row.