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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (66352)	3/21/2001 12:54:38 PM
From: long-gone	Respond to of 116764

Coeur d'Alene to pay $3.9 mln to settle EPA claims COEUR D'ALENE, Idaho, March 19 (Reuters) - Coeur d'Alene Mines Corp. (NYSE:CDE) on Monday said it will pay just under $3.9 million, provide land and pledge future cash royalties to settle legal issues over the clean-up of the Coeur d'Alene Mining District Basin in Idaho. The legal claims had been brought by the Environmental Protection Agency, Department of Interior and US Fish and Wildlife Service, Coeur d'Alene Mines said in a statement. Along with the cash payment, Coeur d'Alene Mines will deed about 80 acres known as the Burns-Yak property to the United States to be used as a waste repository for the cleanup. Starting in five years, Coeur d'Alene Mines will make conditional payments of two percent of net smelter returns on silver, if the price of silver exceeds $6.50 an ounce. In addition, a $5.00 an ounce royalty on gold will be paid if its price exceeds $325 an ounce. The royalty payments will end when Coeur has paid $3 million, or after 15 years. Coeur d'Alene Mines also agreed to perform minor cleanup work on two older properties, the old Coeur d'Alene Mines Mineral Point property and at the Calladay property.