Sterlite will also benefit from the proceeds recovered from general unsecured creditors based on a judgement against the Americas Mining Corp awarded by the District Court of Texas.

The quantum of such benefit is pegged at 50 percent of the interest and will accrue once the unsecured creditors are paid in full, including the post-petition interest, the company added.

Formerly the American Smelting and Refining Co, Asarco was formed in 1899 after the consolidation of a number of silver smelting companies. Over the years, it has evolved into an integrated producer of copper, and other metals.