Baja Reports Capital Cost Review Results for Boleo

Baja Mining Corp. (TSX:BAJ,OTCQX:BAJFF) announced an update to the costs of the Boleo copper-cobalt-zine project.

As quoted in the press release:

Baja has identified a projected cost increase of approximately $246 million after exhausting existing contingency and cost overrun facilities. Financing for the Boleo project was based on a 2010 projected go-forward funding requirement of US$1.143 billion. The projected $246 million cost increase represents a 21.5% increase over the 2010 funding requirement.

Click here for the Baja Mining Corp. (TSX:BAJ) press release.