Home |  News |  Conferences |  Commodities |  Publications |  Business Directory |  Resources |  Help
Go to the MEI Online homepage Sponsored by: click to go the Axis House website  
Search Site:

MEI Online: Commodities: Metallic Ores: Copper: Latest News: February 10th 2015

 
 

Click for more info on Flotation '17

  

:: Boleo Announces First Copper Production and Additional Funding

 

Baja Mining Corp. has announced that it has been advised by Minera y Metalúrgica del Boleo, and Korea Resources Corporation that prior problems relating to the acid plant have been resolved and the Boleo plant achieved first copper production on January 17, 2015. MMB has also advised that commissioning of the cobalt-zinc circuit has commenced following mechanical completion. MMB is currently targeting the completion of copper production ramp-up and normalized production by July 2015, completion of commissioning and start-up of the cobalt-zinc circuits by March 2015, and completion of production ramp-up by October 2015.

In addition, MMB and KORES have advised that MMB has issued an AUD100 million corporate bond with a fixed annual interest rate of 4.125% and repayment due December 3, 2019, fully backed by a KORES guarantee, and entered into 5 year AUD/USD cross currency swaps for proceeds of approximately USD84 million, with a fixed annual interest rate of 2.67%. The swap proceeds are intended to fund MMB through the start-up phase of operations to the time when positive operating cash flow can be achieved, based on MMB’s current financing plan.

 

 

   

ALTA 2017

Select the list(s) you'd like to join below, enter your email address, choose a content format and click "Join."
[more info]


MEI Online Update
MEI Online Job Vacancies

HTML Text

© 1998-2017, Minerals Engineering International


Email: amanda@min-eng.com