June 18 Canadian miner Baja Mining Corp
said Louis Dreyfus Commodities Metals Suisse S.A. (Dreyfus)
filed a lawsuit in the Supreme Court of British
Columbia against the company regarding cost overruns at the
company's Mexico project.
Privately held Dreyfus - Baja's second-largest shareholder,
according to Thomson Reuters data - sought an independent
investigation into the cost overruns at the Boleo
France-based Dreyfus also sought the removal of some
officers and directors.
Baja said in April it will not be able to proceed beyond
mid-June without a cash injection.
Spending at the Boleo project, which is 70 percent-owned by
Baja and rest by a Korean consortium, is expected to be $246
million more than the $1.14 billion estimated in 2010, Baja
On Monday, Baja said it plans to defend Dreyfus' action.
Its shares were up 27 percent at 19 Canadian cents on the
Toronto Stock Exchange on Monday.