W.R. Grace offers $18.5M to settle Montana asbestos claims

HELENA, Mont. (AP) — The owner of a former vermiculite mine in northwestern Montana that spread harmful asbestos in and around the town of Libby has offered $18.5 million to settle the last of the state’s environmental claims. The proposed settlement was filed Tuesday in W.R. Grace & Co.’s bankruptcy case for the Libby Asbestos Superfund Site. The first $5 million would be due within six months of reaching a final agreement. The rest would be paid over 10 years. The money would be used to restore, replace or rehabilitate damaged natural resources in the Lincoln County area. The vermiculite mined near Libby contained asbestos, causing lung damage and leading to the deaths of hundreds of people in the area.