NEW YORK Baja Mining
Corp. has appointed Nigel Kirkwood, former mergers and
acquisitions director for Citigroup Inc., as its chief
Kirkwood, who spent 16 years
with Citigroup in London, most recently served as chief
financial officer and director for a number of mining
exploration companies listed on the Toronto Stock Exchange
(TSX) Venture Exchange, Baja said.
"We are very pleased to welcome
Nigel to Baja," interim chief executive officer Tom Ogryzlo
said in a statement. "He brings significant finance experience
to our executive team."
comes at a time of financial challenges for Baja. The
Vancouver-based companys flagship
copper-cobalt-zinc-manganese mine has identified more than $400
million in overrun costs and has relied on a series of bailouts
from Korean investors to continue funding the project (
amm.com, Dec. 4). As a result, Bajawhich
used to own a majority share in project joint-venture Minera y
Metalurgica del Boleo SA de CV (MMB)now owns a 49-percent
stake, with the Korean investors holding the remainder.
Several members of Bajas
board resigned in the wake of financial difficulties in 2012,
including president and chief executive officer John Greenslade
amm.com, May 14) and board chairman Lorie Waisberg
amm.com, Oct. 19).
Baja could not be reached for further comment Friday.