Chilean Government To Bail Out Mining Company -- Or At Least Its Miners

Here is the first video of the 33 miners trapped in a collapsed gold and copper mine in Chile-where they will be for the next three or so months. Apparently the company that owns the gold mine is nearly bankrupt: “San Esteban is in such bad shape that it has neither the equipment nor the money to rescue the men; Chile’s state-owned mining company is going to drill the escape tunnel, which will cost about $1.7 million…. On Thursday, the first of many expected lawsuits against San Esteban and the government were filed, and a judge ordered the retention of $1.8 million of company money in anticipation of the suits.” The Chilean government has decided to foot the bill for the rescue mission (either because it was the right thing to do or for a boost in their lagging popularity), rather than just leaving the trapped miners there forever.