April 25 Canadian miner Baja Mining Corp
said it plans to focus on copper production at its
Boleo project in Mexico after the project overshot budget by
about 22 percent.
The company said it is looking at options to defer
production of non-copper metals at the copper-cobalt-zinc
The Boleo project overshot its budget mainly because of
design changes and higher steel and fuel costs.
Baja said it expects spending on the project, which it owns
along with a Korean consortium, to be $246 million more than the
$1.14 billion estimated in 2010.
The company is also reviewing key roles and will restructure
as required, it said in a statement.
Shares of the company, which has a market value of about
$130 million, were trading flat at 38 Canadian cents on
Wednesday on the Toronto Stock Exchange.