Baja Mining’s Boleo Project Gets a $115 Million Boost

Mining Weekly reported that Baja Mining has received another cash injection, this time for $115 million, from Korea Resources Corporation (Kores) to support construction of its Boleo project in Mexico.

As quoted in the market report:

The advance was made through Baja’s 49%-owned subsidiary Minera y Metalúrgica del Boleo (MMB) and was paired with an extension to the third standstill agreement, which expired on January 15.

To view the whole Mining Weekly report, click here.

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Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) primary asset, located in the mining friendly state of Idaho, is the 100% owned, Idaho Cobalt Project. The ICP is a unique, high grade, primary cobalt deposit which is comprised of the mine and mill site and the proposed refining facility, the Cobalt Production Facility, a stand-alone hydrometallurgical facility that will process the ICP Mine concentrates into cobalt sulfate, copper sulfate, copper concentrate, magnesium sulfate and gold. Connect with FCO to get their latest news instantly.

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