New Mexico's Office of Natural Resources Trustee and Freeport-McMoRan Copper & Gold Inc. (FCX) have reached a $13 million settlement over allegations that the release of hazardous substances from the company's mining in southwestern New Mexico damaged groundwater, the agency said Thursday.

The settlement includes nearly $12.8 million to restore groundwater resources and $206,000 to the Office of Natural Resources Trustee to reimburse outstanding damage assessment costs.

Freeport-McMoRan spokesman Richard Peterson said the company is pleased to have the claims resolved, The Associated Press reported.

Announcement of settlement available at http://www.onrt.state.nm.us/Media.html

-Dow Jones Newswires; 212-416-2900
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