ASARCO Acquires Railroad

ASARCO announces today it has purchased Copper Basin Railway, a short line railroad in Arizona to help cut costs locally. 

The railroad is used to transport sulfide copper ore from the Ray Mine to their Hayden plant.

The line will also be used to move un-processed copper from the Arizona smelter to the Amarillo plant.

The purchase has been authorized by the bankruptcy court in Corpus Christi where ASARCO's Chapter 11 bankruptcy is pending.

The company says this will help in controlling their shipping cost.