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| Home : MMB Secures US$50 Million Bank Loan to Progress With First Copper Production in Q4 2014 |
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Aug 26
2014 |
MMB Secures US$50 Million Bank Loan to Progress With First Copper Production in Q4 2014 |
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VANCOUVER, BC--(Marketwired - August 25, 2014) - Baja Mining Corp. ("Baja" or the "Company") (TSX VENTURE: BAJ) (OTCQB: BAJFF) announces that it has been advised by Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. ("MMB") and Korea Resources Corporation ("KORES") that MMB has secured additional bank financing of US$50 million in the form of a corporate loan, repayable in one year and bearing interest at LIBOR plus 0.8% (the "Bank Loan"). As referenced in the Company's news release on August 15, 2014, MMB is working to secure additional external financing of up to US$200 million, including the Bank Loan, for completion of the Boleo construction and working capital until production reaches a normalized level. |
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| Source:http://www.marketwired.com/mw/release.do?id=1941245&sourceType=3 |
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