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Baja mulls sub-debt to fund Boleo overruns
08 May 2012
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[baja mining]
[baja california sur]
[kdb]
[kores]
Baja Mining has started discussions with minority shareholders in its Boleo copper‐cobalt‐zinc‐manganese project about using subordinated debt to fund a $246 million cost overrun at the mine. Baja's management met with these shareholders - Korea Resources Corporation, LS Nikko Copper, Hyundai Hysco, SK Networks, Iljin Materials - in an attempt to find a way of meeting the gap without either Baja or the project...
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