Baja Mining Announces Completion of Stage I Financing

Developing the El Boleo mine - 2010

Baja Mining Corp. is a Canadian mining company. Baja, through Minera y Metalurgica del Boleo S.A.P.I. de C.V. (MMB), owns a 10% interest in the Boleo copper-cobalt-zinc-manganese project located in Baja California Sur, Mexico.

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Baja Mining Announces Completion of Stage I Financing

posted on Aug 28, 2012 01:47PM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2012) - Baja Mining Corp. ("Baja") (TSX:BAJ)(OTCQX:BAJFF) reports that the Korean consortium (the "Consortium") has contributed US$90 million to its subsidiary Minera y Metalúrgica del Boleo S.A. de C.V. ("MMB"), completing Stage I of the financing announced by Baja on July 26, 2012.

The Korean Consortium now owns a majority interest (51%) in MMB. However, the formalities required to transfer the shares and transfer control have not yet been completed.

http://www.marketwire.com/press-release/baja-mining-announces-completion-of-stage-i-financing-tsx-baj-1694987.htm