Pegasus Gold Inc. Faces Environmental Lawsuits Amid Gold Production

Strategic Insights -

Pegasus Gold Inc., a leading international gold mining company, has faced a barrage of environmental lawsuits from government agencies and Native American tribes over alleged Clean Water Act violations at its Zortman Mining Inc. property in Montana. In June 1995, the Department of Justice, the U.S. Environmental Protection Agency, and the Gros Ventre and Assiniboine Tribes of the Fort Belknap Reservation filed complaints in federal district court, echoing earlier allegations made by the State of Montana in 1993. Pegasus Gold Inc. has not yet been served with the complaints and is awaiting further disclosure.

Key Takeaways:

  • Pegasus Gold Inc. has received complaints from the Department of Justice, the U.S. Environmental Protection Agency, and the Gros Ventre and Assiniboine Tribes of the Fort Belknap Reservation alleging Clean Water Act violations.
  • The suits relate to the same circumstances alleged by the State of Montana in their complaint filed in October 1993.
  • Pegasus Gold Inc. has not been served with the complaints and is awaiting further disclosure.
  • The company produces over 500,000 ounces of gold annually from its properties in the United States and Australia.
  • Pegasus Gold Inc. has offices in Miami, Florida; Santiago, Chile; Mendoza, Argentina; and Georgetown, Guyana, and carries out international exploration.
  • The company's common shares are traded on the American Stock Exchange, The Toronto Stock Exchange, and the Montreal Exchange, while options are traded on the Chicago Board Options Exchange and the Montreal Exchange.
  • John W. Pearson, a spokesperson for Pegasus Gold Inc., is available for further information.

Statistics:

  • Pegasus Gold Inc. produces over 500,000 ounces of gold annually.
  • The company operates properties in the United States and Australia.
  • The total market value of the company exceeds $X billion.
  • The number of employees globally is $X$, including those in international offices.

Sources:

  • Business Wire, "Pegasus Gold Inc. Announces Receipt of Press Releases from Regulatory Agencies and Tribes" (June 7, 1995).
  • Pegasus Gold Inc. press releases.