Baja Announces Letter of Intent With Louis Dreyfus and Reports on Boleo Debt Financing Progress

Baja Mining Corp. (TSX:BAJ)(OTCQX:BAJFF)(PINK SHEETS:BAJFF) reported that it has entered into a binding Letter of Intent with Louis Dreyfus Commodities Metals Suisse SA, setting out three transactions which, when completed, are expected to satisfy important parts of the financing package for the Boleo Project, (the “Project Finance Package”).

The press release is quoted as saying:

Baja Mining is a Vancouver, Canada-based publicly traded mine development company (TSX:BAJ)(OTCQX:BAJFF)(PINK SHEETS:BAJFF) with a 70% interest in the Boleo copper-cobalt-zinc-manganese Project located near Santa Rosalia, Baja California Sur, Mexico, targeted for copper commissioning in 2012.

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