Baja Mining of Vancouver, Canada, recently poured the first amount of concrete at its Boleo project. This zinc, cobalt, and copper project is located in Baja, California. Baja expects to start surface mining during second quarter 2011, according to an official statement. In the construction phase, the Boleo workforce will total 2,500 and 1,000 of these positions will be permanent, full-time jobs that continue through the operational stage.
Baja has 70 percent ownership of the Boleo project, with the remaining 30 percent held by a group of Korean companies. The Mexican service division of the Canadian mining company has hired over 150 full-time employees who are now undergoing training in several departments. In addition to mining, they are learning about safety, health, and environmental protection.
John Greenslade, Baja CEO, stated that the first concrete poured represented an “important milestone” in Boleo’s development. He went on say that it serves as a foundation for the remainder of construction at the flagship project and will drive continuous development of shareholder value. In addition to surface mining beginning before the middle of this year, initial power generators providing 7,500 MW will be received at that time.
During the third quarter of 2011, the first set of equipment for underground mining will be delivered. The marine terminal will also be constructed and the construction camp will be completed. By late 2012 or early 2013, commissioning and production of copper will begin. Zinc and cobalt circuits will follow in mid-2013.
As copper experiences record prices, Boleo is sure to receive a lot of attention from investors. The additional yields provided by this mine are welcome, as demand for the industrial metal is currently stretched thin and shortages are expected to continue. Stakeholders are likely to be quite pleased by the profits generated by this significant mining project.
