December 29, 2014 5:51 AM ET

Metals and Mining

Company Overview of Minera y Metalúrgica del Boleo, S.A.P.I de C.V.

Company Overview

Minera y Metalúrgica del Boleo, S.A.P.I de C.V., a mining company, engages in the extraction and processing of copper, cobalt, and zinc. The company is based in Santa Rosalia, Mexico.

Carretera Transpeninsular Federal Libre Tramo Santa Rosalía a San Ignacio Km 5.5

Santa Rosalia, BJ 23920

Mexico

Phone:

52 6 152 5200

Key Executives for Minera y Metalúrgica del Boleo, S.A.P.I de C.V.

Managing Director
Age: 63
Chief Operating Officer
General Manager of Human Resources
General Manager of Social Responsibility
Compensation as of Fiscal Year 2014.

Minera y Metalúrgica del Boleo, S.A.P.I de C.V. Key Developments

Minera y Metalúrgica del Boleo S.A. de C.V. Announces Executive Changes

Mining Corp. announced that Minera y Metalúrgica del Boleo S.A. de C.V. has appointed Sang Bum Lee as Chief Operating Officer following the death of Kyoung Jin Park. Mr. Lee will be responsible for directing the Boleo construction completion activities, including commissioning and start-up, and managing the operation of the Boleo Project. Mr. Lee has had a long and successful career in the non-ferrous metals (zinc, lead and precious metals) industry gained in Korea, Australia, Europe and the United States in various positions ranging from technical process engineering, plant construction, production management, and commercial and global business management. He worked for 30 years within the Korea Zinc Ltd.

Minera y Metalúrgica del Boleo, S.A.P.I de C.V. Secures $50 Million Bank Loan

Baja Mining Corp. announced that it has been advised by Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. and Korea Resources Corporation that MMB has secured additional bank financing of $50 million in the form of a corporate loan, repayable in one year and bearing interest at LIBOR plus 0.8%. MMB is working to secure additional external financing of up to $200 million, including the Bank Loan, for completion of the Boleo construction and working capital until production reaches a normalized level.

Korea Resources Corporation Provides $20 Million Bridge Loan to Minera y Metalúrgica del Boleo, S.A. P.I. de C.V

Baja Mining Corp. announced 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 KORES has provided a $20 million bridge loan to MMB to fund the continuing construction of the Boleo Project. The Bridge Loan is intended to provide interim funding to MMB while the company works to secure additional external financing of up to $200 million required for completion of construction and working capital until production reaches a normalized level. The Bridge Loan is repayable within six months and bears interest at a rate of 10% per annum.

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