Baja Mining Corp. (TSE:BAJ)(OTCQX:BAJFF)(PINK SHEETS:BAJFF) announced that its 70% owned project company, Minera y Metalurgica del Boleo S.A. de C.V. , has received all necessary credit approvals from the Export-Import Bank of the United States and Korea Development Bank to provide US$573 million in senior and subordinated project financing for the construction of the Boleo Project in Mexico.

The press release is quoted as saying:

Baja continues to work on obtaining credit approvals from Export Development Canada (“EDC”) (also serving as technical agent for the facilities) and a group of commercial banks for, respectively, the remaining US$150 million and US$100 million of loans, consisting of senior project and cost overrun debt facilities. When combined with the Exim Bank and KDB elements of the facilities, this total of US$823 million will be the entire amount of required debt financing for Boleo.

Click here to access the entire press release

Click here to access Baja Mining Corp. Corporate Site

Comment

Tweet