The company G-I Holdings once operated a large asbestos mine in Vermont and has recently vouched to pay for the cleanup effort. The cleanup will cost $300 million and will rid the main mine of asbestos along with nine other sites where hazardous materials were dumped.

The $300 million not only covers the future clean up costs, but it also pays for the previous cleanup efforts surrounding the mine, which was previously called the Vermont Asbestos Group Mine and was located at Belvidere Mountain.

How could there be $300 million worth of cleanup you might wonder? Well that’s simple, the mine spans 1,600 acres and was open and operating in the early 1990s.

The G-I Holdings company was involved in a lawsuit settlement which was brought about by a claim filed in New Jersey. The complaint was that the mine was having a negative impact on the environment because waste from the rocks was finding its way into local streams and wetlands. In addition, there was concern that the asbestos was releasing into the air that local residents were breathing.