May 24, 2016 5:34 PM ET

Metals and Mining

Company Overview of ASARCO LLC

Company Overview

ASARCO LLC engages in mining, smelting, and refining copper and other metals. It offers copper rods, copper cakes, and copper cathodes. The company also provides bismuth selenide, which is used to produce lead-free brass; and tellurium, which is used in the rubber and chemical industries. ASARCO LLC was founded in 1899 and is based in Tucson, Arizona with copper mines, copper smelters, SX/EW plants, and administrative offices in Arizona. It has a copper refinery in Texas. As of December 9, 2009, ASARCO LLC operates as a subsidiary of Americas Mining Corporation.

5285 East Williams Circle

Suite 2000

Tucson, AZ 85711-7711

United States

Founded in 1899

11,100 Employees

Phone:

520-798-7500

Fax:

520-798-7780

Key Executives for ASARCO LLC

President and Chief Operating Officer
Chief Financial Officer and Vice President
Treasurer
General Manager of Human Resources
Controller
Compensation as of Fiscal Year 2015.

ASARCO LLC Key Developments

National Labor Relations Board Issues Third Consolidated Complaint Against Asarco Unfair Labor Practices Include Unlawfully Implementing

The United Steelworkers (USW) announced that Region 28 of the National Labor Relations Board (NLRB) has issued a third consolidated complaint against Asarco, LLC, which includes an allegation that the company unlawfully implemented portions of its so-called last, best and final contract proposal on Dec. 1, 2015, in the absence of a bargaining impasse. Among the conditions Asarco unilaterally changed were provisions affecting workers scheduled hours and overtime pay calculations as well as modifications to quarterly bonus payments based on the price of copper. The NLRB accuses Asarco management of discrimination and other practices aimed at interfering with workers exercising rights guaranteed by federal labor laws. The NLRB issued two previous consolidated complaints against Asarco for unfair labor practices that include failing and refusing to negotiate with the unions which represent workers at the Grupo Mexico subsidiarys five U.S. facilities. More than 2,000 hourly production and maintenance employees represented by eight international unions have continued to work at Asarcos copper mines and processing facilities under the terms and conditions of a labor agreement that originally expired in June 2013 but was extended until the parties terminated it in June 2015. Since then, as the NLRB spells out in a previous complaint, Asarco management unilaterally changed working conditions at the facilities on multiple occasions without first negotiating over the changes with union representatives as required by law. In some cases, the NLRB notes, Asarco management did not even notify the unions before changing the terms and conditions of employment. The NLRB has scheduled a hearing on March 15, 2016, when an administrative law judge will review evidence against Asarco and listen to testimony in the case.

National Labor Relations Board to Prosecute Asarco LLC for Unfair Labor Practices

The United Steelworkers said that Region 28 of the National Labor Relations Board has issued a Consolidated Complaint against Asarco, LLC, alleging that the company has committed multiple unfair labor practices, including failing and refusing to negotiate with the unions which represent workers at the Grupo Mexico subsidiary's five U.S. facilities. More than 2,000 hourly production and maintenance employees represented by eight international unions have continued to work at Asarco's copper mines and processing facilities under the terms and conditions of a labor agreement that originally expired in June 2013 but was extended until the parties terminated it in June 2015. Since then, as the NLRB spells out in its complaint, Asarco management unilaterally changed working conditions at the facilities on multiple occasions without first negotiating over the changes with union representatives as required by law. In some cases, the NLRB notes, Asarco management did not even notify the unions before changing the terms and conditions of employment. The NLRB has scheduled a hearing on Jan. 12, 2016, when an administrative law judge will review evidence against Asarco and listen to testimony in the case.

Asarco Announces Net Debt for the First Quarter Ended March 31, 2015

Asarco announced net debt for the first quarter ended March 31, 2015. For the quarter, the company announced net debt of $57,170,000.

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