TSX:BAJ
June 3, 2009
PRESS
RELEASE
BAJA Appoints MICHAEL SHAW AS CHIEF OPERATING OFFICER
VANCOUVER,
B.C. Baja Mining Corp. today
announced the appointment of Michael F. Shaw to the position of Chief Operating Officer of
the Company, effective immediately. Mr. Shaw joined the Company in August 2007
as Vice President Construction and Engineering (please see previous news
release dated September 6, 2007).
As COO,
Mr. Shaw will be responsible for leading the
development of an open book capital cost estimate and project construction
schedule with ICA Fluor of Dublin, California, as well as the engineering and
construction of Baja’s Boleo Project, Mexico,
once construction financing is complete. Mr. Shaw will also be responsible for
oversight of the organization, recruitment and implementation of the project
site operating group, including all procurement, logistics, engineering,
process and mining personnel. Finally, Mr. Shaw will be responsible for
coordinating the transition from the engineering, procurement and construction
phase to the operations phase at Boleo.
Mr. Shaw
has recently worked for Newmont Mining Corporation as Project Director for the
Minas Congas Project in northern Peru, a multi-billion dollar copper gold
project. He also held the title of Regional Director of Projects at Newmont and
was responsible for project execution in Africa.
Mr. Shaw
has been instrumental in the engineering, construction and startup of numerous
copper, gold and nickel projects globally, both as an operator and
engineer-constructor from 1969 to the present time, including: Tiomin Resources Inc.’s Cerro Colorado copper deposit
in Panama; CODELCO projects in Chile; Cyprus Amax Engineering and Project
Development Company projects in Peru; and various projects for Phelps Dodge
Corporation. Mr. Shaw also served as Project Manager for Bechtel and Davy McKee
(now Aker Kvaerner). From 1999 to 2005 he held the position of Vice President,
Project Manager of Apex Silver Mines Corporation and was responsible for
engineering, permitting, construction and startup of the San Cristobal
zinc/lead/silver mine project in Bolivia.
Mr. Shaw
graduated from the University of Texas, El Paso, with a Bachelor of Science in
Chemistry and a Master of Science in Metallurgical Engineering in 1970 and
1975, respectively. He has over 38 years experience in the mining and
metals industry, with 25 of those years dedicated to project engineering and
construction management, mostly in Latin America. He is a member of the US
Society for Mining, Metallurgy and Engineering (SME), the Mining and
Metallurgical Society of America (MMSA), and has been admitted as a
professional engineer in California, Arizona and New Mexico.
Phase I
engineering work has now commenced at Baja’s Boleo
project with ICA Fluor developing an open book capital cost estimate
and project construction schedule (please see press release dated May 14, 2009). The cost estimate will reflect current market conditions and be supported by the work performed to date
(about 30% of engineering has been completed). The
Phase I capital cost estimate will be subject to independent third party
review, and is expected to be completed by the end of the third quarter of 2009.
Baja is a
Vancouver-based publicly traded company (TSX:BAJ) with a 70% interest in the Boleo copper-cobalt-zinc-manganese project located near
Santa Rosalia, Baja California Sur, Mexico. A Korean
syndicate holds the remaining 30%. Baja is the project operator. The target
date for commissioning Boleo is 2011. A 2007
definitive feasibility study projected an average annual production for the
first four years of 56,000 tonnes of copper cathode,
1,500 tonnes of cobalt cathode and 20,000 tonnes of zinc sulphate. The
project has proven and probable reserves that support a mine life of more than
25 years. Anticipated cash costs in the first five years are US$0.27 per pound
of copper, net of by-product credits for cobalt and zinc and with no credit for
manganese.
ON
BEHALF OF THE BOARD OF DIRECTORS OF
BAJA
MINING CORP.
John
W. Greenslade
JOHN
W. GREENSLADE, PRESIDENT
For
further information please contact John Greenslade,
President, at (604) 685-2323
Some of the
statements contained in this release are forward-looking statements, such as
statements that describe the Company?s expected
timing of mobilization of construction activities, expected completion of cacti
relocation and removal, expected timing of delivery of long lead items,
expected timing of project commissioning and other statements.
Since forward-looking statements are not statements of historical fact and
address future events, conditions and expectations, forward-looking statements
by their nature inherently involve unknown risks, uncertainties, assumptions
and other factors well beyond the Company?s ability
to control or predict. Actual results and developments may differ
materially from those contemplated by such forward-looking statements. Material
factors that could cause actual revenues to differ materially from those
contained in such forwarding-looking statements include (i)
fluctuations on the prices of copper, cobalt, zinc and manganese, (ii)
interpretation of contract terms, (iii) accuracy of the Company?s
and consultants? projections, (iv) the Company?s
ability to finance, receive permits for, obtain equipment, construct and
develop the El Boleo Project, (v) the effects of
weather; operating hazards; adverse geological conditions and global warming,
(vi) impact of availability of labor, materials and equipment; and (vii)
changes in governmental laws, regulations, economic conditions or shifts in
political attitudes or stability.
These forward-looking statements represent the Company?s views as of the date of this release. There can be
no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated
in such statements. Readers should not place undue reliance on any
forward-looking statements.
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