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Quarterly report pursuant to Section 13 or 15(d)

Environmental And Mine Closure Obligations

v2.3.0.15
Environmental And Mine Closure Obligations
9 Months Ended
Sep. 30, 2011
Environmental And Mine Closure Obligations [Abstract]
Environmental And Mine Closure Obligations

NOTE 10 鈥� ENVIRONMENTAL AND MINE CLOSURE OBLIGATIONS

We had environmental and mine closure liabilities of $225.2 million and $199.1 million at September 30, 2011 and December 31, 2010, respectively. The following is a summary of the obligations as of September 30, 2011 and December 31, 2010:

听听 (In Millions)
听听 September听30,
2011
听听 December听31,
2010

Environmental

听听 听听$ 听听听听15.0听听 听听 听听 听听$ 听听听听13.7听听 听听

Mine closure

听听 听听

LTVSMC

听听 17.9听听 听听 听听 17.1听听 听听

Operating mines:

听听 听听

U.S. Iron Ore

听听 67.5听听 听听 听听 62.7听听 听听

Eastern Canadian Iron Ore

听听 67.8听听 听听 听听 49.3听听 听听

North American Coal

听听 35.6听听 听听 听听 34.7听听 听听

Asia Pacific Iron Ore

听听 15.2听听 听听 听听 15.4听听 听听

Other

听听 6.2听听 听听 听听 6.2听听 听听
听听

听听

Total mine closure

听听 210.2听听 听听 听听 185.4听听 听听
听听

听听

Total environmental and mine closure obligations

听听 225.2听听 听听 听听 199.1听听 听听

Less current portion

听听 14.7听听 听听 听听 14.2听听 听听
听听

听听

Long-term environmental and mine closure obligations

听听 听听$ 听听听听210.5听听 听听 听听 听听$ 听听听听184.9听听 听听
听听

听听

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 nine months ended September 30, 2011 and the year ended December 31, 2010:

听听 (In Millions)
听听 September听30,
2011
听听 December听31,
2010
(1)

Asset retirement obligation at beginning of period

听听 听听$ 168.3听听 听听 听听 听听$ 103.9听听 听听

Accretion expense

听听 11.8听听 听听 听听 13.1听听 听听

Exchange rate changes

听听 (1.1)听 听听 听听 2.5听听 听听

Revision in estimated cash flows

听听 -听听听听 听听 听听 1.0听听 听听

Payments

听听 (0.7)听 听听 听听 (8.4)听 听听

Acquired through business combinations

听听 14.0听听 听听 听听 56.2听听 听听
听听

听听

Asset retirement obligation at end of period

听听 听听$ 听听听听192.3听听 听听 听听 听听$ 听听听听168.3听听 听听
听听

听听

(1)听听听听Represents a 12-month rollforward of our asset retirement obligation at December听31, 2010.