Baja Mining Seeks Project Financing

Minera y Metalurgica del Boleo, the Mexican subsidiary of Baja Mining Corp. is looking for $823m in project financing. The funds will go toward the construction of the Boleo copper, cobalt and zinc mining project, which will be constructed in Baja, Mexico, according to Deutsche, which has been mandated for the agency roles. The financing will be divided into 5 tranches of senior debt, with funding coming from commercial banks and export credit agencies, and a subordinated debt tranche, says the bank. Deutsche will work with the US Eximbank to oversee the financing during construction and operation, it adds.