NEW YORK Baja Mining Corp. has appointed Nigel Kirkwood, former mergers and acquisitions director for Citigroup Inc., as its chief financial officer.
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."
Kirkwoods appointment 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.