Officials at Baja Mining Corp. have settled with shareholder Louis Dreyfus Metals Commodities (Suisse) SA (Dreyfus) regarding cost overruns at the Boleo Project in Baja, Mexico. In Q2 2013, Dreyfus filed suit against Baja in England and British Columbia; both concerned a letter of credit. Baja filed a counterclaim against Dreyfus in the U.K. court, which led to the resolution, said company officials. Since the settlement claims have been withdrawn from both courts, “Baja is pleased to have resolved its differences with LDCMS on an amicable basis and looks forward to a productive future relationship,” the company said in a statement.
- Written by E&MJ News
Baja Mining Corp Louis Dreyfus Metals Commodities Suisse SA Dreyfus Boleo Project suit letter of credit court settlement claims