Word: armco
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Dates: during 1970-1979
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Reserve Mining, which is owned jointly by Armco Steel and Republic Steel, produces 15% of the U.S.'s iron ore. It mines taconite around Babbitt, Minn., then ships the flintlike rock 50 miles to Silver Bay, on the shores of Lake Superior. There the iron content of the taconite is extracted, and the wastes, or "tailings," are dumped into the water. Any time that Reserve is attacked for polluting the lake-and the attacks have been continuous since 1967-it says that it might have to close the plant if ordered to stop. That would wreak economic havoc, since...
...also rejected a Government proposal that Reserve move its entire Silver Bay operation to Babbitt. Such a move would cost $ 187 million, said federal officials. Reserve promptly upped the estimate to $575 million, a figure that Judge Lord scrutinized and then branded as "blatantly inflated." On March 1, an Armco executive admitted that Reserve Mining had in fact prepared four or five on-land disposal plans. The judge was aghast. He charged the company with deliberately stalling the trial in the hope of getting the Government to step in and pay for the cleanup...
...Allegheny Ludlum, Armco, Bethlehem, Jones & Laughlin, National, Republic, U.S. Steel, Wheeling-Pittsburgh and Youngstown...
...nation's steel and other raw materials, and the impact of the strike is already being felt. Major citrus and produce growers are unable to ship their crops North. As a result, the price of oranges, strawberries and other perishables will rise. Because of material shortages, Armco Steel Corp. closed its Columbus plant indefinitely, throwing 565 people out of work. Republic Steel, Youngstown Sheet & Tube and U.S. Steel may close their plants in Youngstown. Strike leaders predict that unless the Government offers them a more satisfactory deal, food shortages will begin to crop up early this week in major...
...perfected its technique for economically extracting iron from a gray rock called taconite, which previously was considered to have too low an iron content for commercial mining and processing. Today the plant, producing 15% of the nation's iron ore, is a solid money-maker for its owners, Armco Steel Corp. and Republic Steel Corp. One reason for the profits: By dumping "tailings," or waste sand, into Lake Superior, the company saves some $25,000 a day over the costs of hauling them to disposal sites on land...