WHAT IS PYRITE?
Published 22/06/2011 | 08:12
PYRITE is a naturally occurring mineral which causes significant structural damage to homes if used in the infill below floor slabs.
Also known as 'fool's gold', traces of the substance are found in the rock used to make crushed stone for backfill in the construction of homes and buildings.
In the presence of humidity and oxygen, pyrite can form a chemical reaction which leads to swelling within the backfill, resulting in structural damage to the home.
Pyrite can also remain active in the infill for many years. Costs to rectify the problems vary between € 35,000 and € 80,000 per home, but despite having Homebond's 10-year structural guarantee, home owners have been offered as little as € 1,200 full and final settlement from the insurer.