According to several Montana newspaper sources, a state civil court has approved $43 million settlement for those exposed to asbestos at the Libby. MT mine operated by W.R. Grace. The settlement’s approval will end a nearly decade-long legal battle between those exposed to asbestos at the W.R. Grace vermiculite mine. Many have become sick or even died as a result of exposure.

The Libby mine was among the largest of its kind in the United States. In fact, the Environmental Protection Agency estimates that nearly 70% of all vermiculite used in the United States over the past 80 years originated from the Libby, MT vermiculite deposits.

Interestingly, a large portion of the settlement will be paid by Warran Buffett’s Berkshire Hathaway reinsurance unit, National Indemnity. In recent years, Berkshire has been particularly willing to assume asbestos tort obligations from companies for substantial up-front premiums.

The protracted nature of the Libby negotiations underscores the extent of liability implicit upon Grace. Nearly the entire town was affected by asbestos exposure at the mine, where the majority of the towns inhabitants worked. Perhaps more disturbing was the effect of non-occupational exposure across the town. Exposure was common among wives of workers who washed the clothing of those working in the mine. Asbestos was also found in areas around schools, public buildings, and parks, exacerbating the risks of non-occupational exposure. EPA officials designated the entire town a Superfund site in 2000 and has been working to clean it up since.

Though the mine has been closed for many years now, people are still becoming ill as a result of exposure. Asbestos-related conditions, including asbestosis and mesothelioma are associated with a great deal of latency (often between 20 and 60 years), meaning we may not know the true extent of exposure for many years to come.

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