Albuquerque Journal (Albuquerque, NM)

Molycorp Posts Bond To Clean Up Mine.

Byline: The Associated Press

Action Might Avert Federal Takeover

TAOS A mining company has posted a $129 million bond with the state Environment Department to clean up its northern New Mexico mine and avert a federal takeover.

The offer from Molycorp on Tuesday marks a change in the company's position but falls short of environmentalists' estimates that $300 million is needed for the cleanup.

For years, Molycorp had maintained that natural runoff from nearby mountains was to blame for pollution in the Red River and the ground water around Questa.

The state contended that Molycorp's mining-related activities caused the contamination. …

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