Big Law

Asarco miners to get $10M in unpaid bonuses

The U.S. Supreme Court has denied review of rulings requiring Arizona-based copper miner Asarco LLC to pay disputed copper-price bonuses to union workers in Arizona and Texas.

The ruling clears the way for payments of more than $10 million in past bonuses to about 750 past and current employees.

Asarco had filed a petition for Supreme Court review in May, asking that the high court overturn two federal district court rulings and an appellate-court decision ordering that the copper-mining company pay the bonuses to workers represented by the United Steelworkers and seven other labor unions.

Asarco has now exhausted all of its appeals and must comply with the arbitrator’s decision, the Steelworkers said.

The bonus is paid when the average, quarterly copper price tops $1.60 per pound. After trading at around $3 per pound for much of 2017 and early 2018, prices for the metal have declined since mid-2018 to below $2.60 in recent weeks.

Read More from Source

    Leave a Review or Comment

    Your email address will not be published. Required fields are marked *

    Back to top button