US Federal Judge Andrew Hanen of the U.S. District Court in Brownsville, Texas, on Thursday issued a court order to Grupo Mexico SAB de CV, which is currently looking to repossess control of the bankrupt American copper miner Asarco LLC, to offer a contract to the miner's United Steel Workers Union by November 24.
The battle over Asarco's possession has been going on for over a year; with both Grupo Mexico and its rival Indian firm Sterlite Industries looking to gain the miner which currently runs three copper mines in Arizona. While the U.S. Bankruptcy Judge Richard Schmidt has been recommending an approval of Grupo Mexcio's $2.4799 Billion offer, Asarco's union is heartily supporting Sterlite's bid as they have an agreement for a new contract with it.
While Sterlite is ready to draft and negotiate a new worker's contract, Grupo Mexico has been stalled in talks with the union for several months now.
Judge Hanen has expressed his frustration over the situation. "The parties seemed to be locked in inertia for reasons neither side could adequately explain and this Court cannot fathom", he noted.
Grupo Mexico now has a deadline of November 24 to present the union with a new contract, failing which Sterlite's bid would automatically become more favored.












