Quarterly report pursuant to Section 13 or 15(d)

Environmental And Mine Closure Obligations

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Environmental And Mine Closure Obligations
3 Months Ended
Mar. 31, 2012
Environmental And Mine Closure Obligations [Abstract]  
Environmental And Mine Closure Obligations

NOTE 11 ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS

We had environmental and mine closure liabilities of $240.7 million and $235.7 million at March 31, 2012 and December 31, 2011, respectively. The following is a summary of the obligations as of March 31, 2012 and the year ended December 31, 2011:

 

     (In Millions)  
     March 31,
2012
     December 31,
2011
 

Environmental

     $ 15.5         $ 15.5   

Mine closure

     

LTVSMC

     16.7           16.5   

Operating mines:

     

U.S Iron Ore

     76.1           74.3   

Eastern Canadian Iron Ore

     69.8           68.0   

North American Coal

     36.9           36.3   

Asia Pacific Iron Ore

     16.7           16.3   

Other

     9.0           8.8   
  

 

 

    

 

 

 

Total mine closure

     225.2           220.2   
  

 

 

    

 

 

 

Total environmental and mine closure obligations

     240.7           235.7   

Less current portion

     13.7           13.7   
  

 

 

    

 

 

 

Long term environmental and mine closure obligations

   $ 227.0         $     222.0   
  

 

 

    

 

 

 

Mine Closure

Our mine closure obligations are for our four consolidated U.S. operating iron ore mines, our two Eastern Canadian operating iron ore mines, our six operating North American coal mines, our Asia Pacific operating iron ore mines, the coal mine at Sonoma and a closed operation formerly known as LTVSMC.

The accrued closure obligation for our active mining operations provides for contractual and legal obligations associated with the eventual closure of the mining operations. The accretion of the liability and amortization of the related asset is recognized over the estimated mine lives for each location. The following represents a rollforward of our asset retirement obligation liability related to our active mining locations for the three months ended March 31, 2012 and the year ended December 31, 2011: