NEW YORK Baja Mining
Corp.s Minera y Metalúrgica del Boleo (MMB)
copper-cobalt-manganese-zinc mining unit has received $65
million in construction funds from Korea Resources Corp., Baja
said May 13.
The Seoul-based companys
latest contribution will reduce Bajas interest in MMB to
15.7 percent from 20.9 percent.
Once Vancouver, British
Columbia-based Baja gets all second-phase funding
contributions, its stake in the flagship Boleo project will be
10 percent vs. 70 percent in early 2012 (
amm.com, Feb. 12).
MMB also is still in talks with the remaining 2010 project
finance lenders, except the Export-Import Bank of the United
States, over an extension of the standstill deal that expired
April 19, Baja said.