Yuba Natural Resources, the troubled mining firm...
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Yuba Natural Resources, the troubled mining firm whose former chairman, Richard Silberman, was arrested April 7 on money-laundering charges, has made an overdue $131,000 payment to the U. S. Department of the Interior’s Bureau of Land Management as part of a settlement of mineral trespass charges.
The payment, which was due April 1, stemmed from charges filed by the bureau last year in connection with Yuba’s 9,900-acre mining field near Marysville. Yuba still owes the bureau $400,000, which it will pay off in annual installments through 1993, bureau area manager Deane Swickard said Monday.
Yuba, which is hard-pressed for working capital, generated the money by selling hunting and fishing rights on part of its land to a sportsmen’s club, Yuba spokesman Marshall Mintz said.
Yuba is still negotiating to refinance an overdue $6.5-million loan from Bank of America, he said.
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