Baja Fully Funded for Boleo Construction-Project Update

Baja Mining Corp (TSX:BAJ) announced that its’ Boleo Project is now fully funded and ready for construction.

The press release is quoted as saying:

“After signing the US$858 Million project financing facilities on September 28, 2010, the final component required to complete this milestone financing was the equity raise of C$184 Million,” said John Greenslade, President & CEO. “Today, with over US$1 Billion raised, we are fully funded and ready to move the Boleo Project to the construction phase with the goal of reaching copper production in 2013.”

Michael Shaw, COO of the company , says:

 “We are a ‘shovel ready’ project with mass earthworks ready to start within a month. Our most significant long lead equipment has been fabricated or is in an advanced state of fabrication. We have released our EPCM contractor and construction activities are re-commencing at site.”

To access the full release, click here.