In the midst of legal proceedings, Teck Metals Ltd. (TML) has admitted that its Trail, B.C., operations have polluted the Columbia River in the U.S.
Vancouver-based Teck Resources Ltd. (TSX:TCK.A and TCK.B) announced that TML had agreed to “certain facts” in a court action in a bid to avoid “trial over technical issues in the liability phase of the case.”
According to Teck, the agreement stipulates that some of the slag discharged from Teck’s Trail operations into the Columbia River between 1896 and 1995 and some of the effluent discharged “have been transported to and are present in the Upper Columbia River” and some hazardous substances from the slag and effluent “have been released into the environment within the United States.”
Teck is the target of a court action under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA). According to the company, the facts agreed to are expected to provide the minimum requirements to allow the court to find in favour of the plaintiffs on their claim for “a declaratory judgment that TML is liable under CERCLA for response costs” that would be identified at a later phase of the case.
However, Teck noted that it hasn’t yet played out its hand on the matter.
“Despite the agreement, important scientific issues, as well as jurisdictional and other legal issues relating to the case remain to be resolved,” the company stated.
The news has not hurt Teck’s stock price, which was up 3% this morning after losing 1% directly after the announcement yesterday.
