Baja secures phase-two mine funding

Feb 12, 2013 | 03:44 PM | Samuel Frizell

Tags  Baja Mining Corp., Boleo, Minera y Metalurgica del Boleo, bailout, Korean consortium, Samuel Frizell

NEW YORK — A consortium of South Korean investors has committed to provide full second-phase funding for Baja Mining Corp.’s minority-owned copper-cobalt-manganese-zinc mining subsidiary Minera y Metalúrgica del Boleo (MMB), allowing the Boleo Mine project to continue, Vancouver, British Columbia-based Baja said Feb. 12.

According to the agreement, MMB will receive the total second-phase funding requirement of $443.4 million—$259 million, or 58.4 percent, of which has already been paid.....

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