Baja Cuts Jobs on Lack of Funding for Boleo

Reuters reported that Baja Mining (TSX:BAJ) slashed jobs at its headquarters following news it had trouble getting financing for the Boleo copper-cobalt-zinc project.

As quoted in the market news:

Spending at the Boleo project, which is 70 percent owned by Baja and rest by a Korean Consortium, is expected to be $246 million more than the $1.14 billion estimated in 2010.

Click here to read the full Reuters report.