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Baja Mining Announces All Required Credit Approvals For US$823 Mln Of Debt Financing For Boleo - Quick Facts

(RTTNews) - Baja Mining Corp. (BAJ.TO) announced that its 70% owned project company, Minera y Metalurgica del Boleo S.A. de C.V. or "MMB", has currently received confirmation from the ECAs and the Commercial Lenders and from the Korea Development Bank that all necessary credit approvals have been obtained in relation to the project financing facilities for the development of the Boleo project in Mexico.

Total credit approved facilities now amount to US$823 million, the entire amount of debt financing required to develop the Project.

MMB is working with the Commercial Lenders to arrange US$100 million of loans, consisting of US$50 million of senior project and US$50 million of senior cost overrun facilities, and to provide the proposed copper hedging program. The combined Facilities total US$823 million. This will be the entire amount of required debt financing for Boleo.