NEW YORK Baja Mining
Corp. remained in the red in the first quarter as its
in-development copper-cobalt-zinc-manganese project in Baja
California Sur, Mexico, continued to face financing issues.
Columbia-based Baja, which owns a 15.7-percent stake in the
project through its Minera y Metalúrgica del Boleo joint
venture, posted a net loss of $17.6 million for the three
months ended March 31 vs. a $30.2-million loss in the same
period last year. Baja did not report any revenue in either
quarter as its flagship mine is still under construction.
Baja, which had owned a 70-percent stake in the project in
early 2012, has seen its stake reduced with each funding
contribution from its South Korean financiers, led by Korean