Copper miner Asarco asked the U.S. Bankruptcy Court to give it a two-month extension to April 11 to file its plan to exit bankruptcy and is blaming its estranged relationship with its parent company, Grupo Mexico, for the delay.
Asarco, headquartered at 1150 N. Seventh Ave., said it is having difficulty meeting the Feb. 11 deadline because it spent time defending a move by Grupo Mexico to investigate the reorganization.
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Asarco filed for bankruptcy protection in Corpus Christi, Texas, in August 2005. Since then it has reached several environmental settelements with federal and state agencies and has been meeting with investors to finance the exit from bankruptcy.
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