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Baja Mining Selects ICA Fluor as Epcm Contractor & Restarts Boleo Engineering

Friday, May 15th, 2009

Baja Mining Corp. announce that it has signed a letter of intent with ICA Fluor to perform the engineering, procurement and construction management (EPCM) for Baja Mining’s Boleo copper-cobalt-zinc-manganese mining project located near Santa Rosalia, Baja California Sur, Mexico.
The project will be performed in two phases. MMB has released ICA Fluor to work on Phase I, which consists of the development of an open book capital cost estimate and project construction schedule. 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.
Phase II will include the execution of engineering, procurement and construction management necessary to bring the project into production. The parties are currently negotiating an interim Memorandum of Understanding which will include the general terms and conditions of a reimbursable EPCM contract. Phase II will commence upon completion of construction financing.
“The integrated Baja-ICA Fluor team will prove invaluable to Boleo’s progress,” says Baja President John Greenslade. “With the combined knowledge and efforts of this team, the project will continue to be developed in a responsible, sustainable and economic manner ensuring that the best interests of all stakeholders and the community of Santa Rosalia continue to be served.”
For further information visit: www.bajamining.com

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