BajaNomad

Problems Facing the Boleo Mine

TMW - 12-23-2013 at 04:04 PM

http://www.mining.com/troubled-bajas-mine-sees-another-day-f...

weebray - 12-23-2013 at 05:25 PM

What a shock NOT. Poor John Greenslade. Today he's probably sitting on his yacht in the Caribbean moping. I wonder how many multi millions of dollars he walked away with. Meanwhile it's back to rice and beans and a dirty somberero for Jose.

BajaRat - 12-23-2013 at 05:42 PM

I think BCS will benefit from the injection of material and equipment already invested :cool:

Thanks TW, interesting

[Edited on 12-24-2013 by BajaRat]

monoloco - 12-23-2013 at 05:43 PM

There was a pretty quick burn rate on that two billion dollars.

BajaRat - 12-23-2013 at 05:45 PM

I'm sure many fortunes amassed :o

Bajahowodd - 12-23-2013 at 05:51 PM

This project was a major boon to the local economy. It brought hundreds of workers into town.

Seems to me that the articles listed deal with financials of what was probably not a well run company. But, at the end of the day, copper is a greatly needed commodity, and the the hills around El Boleo have copper. Someone will eventually profit from that.

mtgoat666 - 12-23-2013 at 06:26 PM

Quote:
Originally posted by Bajahowodd
This project was a major boon to the local economy. It brought hundreds of workers into town.

Seems to me that the articles listed deal with financials of what was probably not a well run company. But, at the end of the day, copper is a greatly needed commodity, and the the hills around El Boleo have copper. Someone will eventually profit from that.


Did they provide financial assurance for closure? Did Mexico give them a mine permit without pre-permit condition of posting financial assurance for closure and land reclamation? Or will mine owners/operators just up and walk away from square miles of bare ground, toxic pits, toxic or acid mine drainage, unsafe physical hazards of open pits, shafts and adits, and scattered drums of toxic chemicals?

chuckie - 12-24-2013 at 02:33 AM

Dont worry, Goat, the Gummint will fix it....

chuckie - 12-24-2013 at 03:51 AM

It seems pretty clear that goat has never seen the Boleo mine, or maybe has never been to Santa Rosalia. Driving by the other day, it seems as if they are making amazing progress, even with the financial difficulties they face. Unless I missed something in the article, they arent closing..

baja Steve - 12-24-2013 at 06:33 AM

I have been in Santa Rosalia quite a few times the last couple of months and the workers and towns people have only said that it is going well and lots of work going on. Nothing bad

bajario - 12-24-2013 at 06:46 AM

I believe the Korean Consortium has taken over most of the mine since Baja Mining failed. Why many insiders might of amassed fortunes I for one went down with their ship. I thought once they secured over a billion dollars in construction loans they knew what they were doing. Boy was I wrong. Oh well off to work I go.