Baja Mining waiting on bailout from investors

Oct 25, 2012 | 04:02 PM |

Tags  Baja Mining, Tom Ogryzlo, copper, zinc, bailout, Korean consortium, Boleo Mine, Samuel Frizell

NEW YORK — Baja Mining Corp. has not yet heard whether its Minera y Metalurgica del Boleo SA de CV (MMB) subsidiary will receive an $80-million bailout from Korean investors that would ensure its flagship Boleo Mine in Baja California Sur, Mexico, remain in development.

Baja was originally due to find out Tuesday whether MMB, which is 49-percent owned by Baja and 51-percent owned by a Korean consortium of investors, would receive the financial injection, interim chief executive officer Tom Ogryzlo told AMM Monday.....

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