Arizona Daily Star

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A judge ruled that Tucson-based copper producer Asarco LLC can raise the salary of CEO Joseph Lapinsky from $425,000 to $500,000, pay him an $85,000 bonus, and make him eligible for another performance bonus for as much as 75 percent of his salary payable at the discretion of the board, Bloomberg News reported.

Lapinsky, the chief executive officer since July 2006, already is eligible for a 30 percent bonus. Asarco said Lapinsky's salary was 20 percent below industry norms. Asarco filed to reorganize under Chapter 11 protection in 2005 to deal with asbestos claims.

Asarco has more than 1,800 Arizona workers and operates the Mission mine near Sahuarita, the Silver Bell mine west of Marana, the Ray mine near Kearny and the Hayden smelter 30 miles north of Oracle.