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BUREAU OF LAND MANAGEMENT AND KAISER RESOURCES INC. COMPLETE LAND EXCHANGE

 RANCHO CUCAMONGA, Calif., Oct. 20 /PRNewswire/ -- Kaiser Resources Inc. (NASDAQ: KRSC) announced today that the Bureau of Land Management (BLM) has issued the Record of Decision for the lands involved in the Kaiser/BLM land exchange. The Record of Decision is the final approval necessary to complete the land exchange which is a critical step for the Eagle Mountain Landfill Project.
 In the land exchange, Kaiser will grant 2,846 prime desert acres to the BLM, much of which lies north and south of Interstate 10 along the Chuckwalla bench, an area designated by the U.S. Fish and Wildlife Service as critical habitat for the threatened desert tortoise. In return, the BLM will grant fee title to Kaiser for 3,481 largely disturbed acres in and around the former Kaiser iron ore mine near Desert Center, Calif. One thousand, nine hundred and twenty-five acres of this land is currently held by Kaiser through valid mill site and mining claims. Also as part of the land exchange, Kaiser will repurchase, at current appraised value, 460 acres of the mine townsite which will remove a reverter clause contained in the original 1955 deed.
 The land that the BLM will grant to Kaiser was appraised at $662,055, Kaiser's land was valued at $522,800. To equalize the difference between the two land values, Kaiser will pay to the BLM approximately $140,000, which can be used to purchase additional wildlife habitat or for other uses the BLM deems as beneficial.
 "This is a major step in the land exchange for both Kaiser and the BLM," said Gerry Fawcett, Kaiser's Executive Vice President and President of Kaiser Eagle Mountain Inc. "Not only is the BLM securing hundreds of acres for prime desert tortoise habitat, but Kaiser and Mine Reclamation Corporation will continue to pursue developing the Eagle Mountain Landfill Project which, when complete, will significantly benefit Southern Calif., Riverside County, and our largest shareholder, a medical trust for over 7,000 retirees of the former Kaiser Steel Corporation."
 The Eagle Mountain Landfill Project is being developed by Palm Springs-based Mine Reclamation Corporation (MRC) through a 100-year lease with Kaiser Resources. Rick Daniels, MRC's President and Chief Executive Officer, said the land exchange is an integral part of the ongoing permitting process. "We're delighted to receive the federal approval for this much-needed project," Daniels said. "MRC will continue to pursue obtaining the necessary permits for what will be a state-of-the-art landfill and recycling center."
 According to Kaiser's Fawcett, the land exchange process, which certifies Eagle Mountain's Environmental Impact Statement, has been thorough and exhaustive. "The BLM has carefully evaluated this land exchange by conducting the necessary appraisals and biological and mineralogical studies," Fawcett said. "This process, combined with the U.S. Fish and Wildife Service's formal Section 7 review confirming that adequate mitigation measures are in place, has ensured that the land exchange transaction meets all regulatory requirements."
 The Eagle Mountain Landfill Project is a regional, waste-by-rail, non-hazardous solid waste landfill capable of accepting 20,000 tons of municipal waste per day for 78 years. The project was approved by the Riverside County Board of Supervisors in November 1992 and is currently in the permitting process with numerous regulatory agencies.
 -0- 10/20/93
 /CONTACT: Gerry Fawcett, Executive Vice President, or Pamela Catlett, Director of Investor Relations, 909-944-4155/
 (KRSC)


CO: Kaiser Resources Inc. ST: California IN: ENV SU:

JB-MF -- LA029 -- 4630 10/20/93 13:22 EDT
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Publication:PR Newswire
Date:Oct 20, 1993
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