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Gold/Mining/Energy : Homestake Mining

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To: Arcane Lore who wrote (226)	9/8/1999 12:25:00 PM
From: long-gone	Read Replies (1) of 415

Tuesday September 7, 7:09 pm Eastern Time Homestake Mining pays $6 mln in damages SAN FRANCISCO, Sept 7 (Reuters) - Homestake Mining Co. (NYSE:HM <http://finance.yahoo.com/q?s=hm&d=t> - news </n/h/hm.html>) said on Tuesday it reached $6 million environmental damage settlement of claims it had discharged materials in a South Dakota creek. The mining giant said in a statement it paid the federal government, state of South Dakota and Cheyenne River Sioux Tribe, as part of the settlement of a September 1997 lawsuit. Homestake said the settlement costs were reflected in year-end 1998 financial statements and would have no impact on 1999 earnings. ``This agreement not only provides funds for environmental monitoring and restoration work; it provides the trustees and public with access to additional lands and water rights,' said Homestake Chairman and Chief Executive Jack Thompson. biz.yahoo.com ps. He also stated it would NOT impact earnaings.

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