NEW BUSINESS: DOE RUN EXPANDING

ASARCO Inc., headquartered in New York, will sell the assets of its Missouri Lead Division to the Doe Ruin Co., a subsidiary of the Renco Group Inc.

The sale is subject to negotiation of definitive agreements, regulatory approval and approvals for each company's board of directors.

Included in the sale are two underground lead mines, Sweetwater and West Fork, and the Glover smelter and refinery, all in Southeast Missouri.

The deal will give St. Louis-based Doe Run eight lead mines in Missouri -- six in the Virburnum area and two in Bunker -- and smelters in the Herculaneum and Ironton areas.

The Sweetwater mine produced 114 million pounds of lead in concentrates last year, and West Fork produced 108 million pounds. The Glover refinery produced 254 million pounds of refined lead.

ASARCO's Missouri Lead Division has 475 employees, who will be retained by Doe Run, which already employs about 1,300 workers.