Asarco gets another extension for bankruptcy plan

PHOENIX, Oct 30 (Reuters) - U.S. copper company Asarco has been granted another extension to file its plan to emerge from Chapter 11 bankruptcy, a judge ruled.

Judge Richard Schmidt agreed to delay the filing until Feb. 11 in bankruptcy court in Corpus Christi, Texas, marking the eighth such delay for the Tucson, Arizona-based company. The company had faced a Nov. 12 deadline.

In a ruling posted on Monday, Schmidt called the extension "essential and appropriate and in the best interests" of those involved in the bankruptcy case.

Asarco, owned by Grupo Mexico SA de CV (GMEXICOB.MX: Quote, Profile, Research, Stock Buzz) of Mexico City, filed for bankruptcy protection in 2005 under the weight of massive environmental cleanups and asbestos claims. The company has said these issues continue to delay any reorganization filling. (Reporting by David Schwartz)