Baja Mining Corp.

Baja Mining Corp.

December 12, 2007 13:01 ET

Baja Mining Appoints New Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2007) - Baja Mining Corp. (the "Company") (TSX:BAJ) is pleased to announce the promotion of Mr. Rowland Wallenius to Chief Financial Officer ("CFO") of the Company, effective immediately.

Mr. Wallenius joined the Company in November 2006 as Controller (please see previous news release dated November 29, 2006). Since his original appointment, Mr. Wallenius has been responsible for accounting and treasury, as well as upgrading the internal controls of the Company. Mr. Wallenius has also assisted the President of the Company with the arrangement of a major underwritten debt facility and worked with the Corporate Secretary to develop new and updated corporate policies. Mr. Wallenius has been, and continues to be, an integral member of the Company's management team, with his input being necessary to improve the sophistication and reliability of the infrastructure and controls required to move the El Boleo Project through construction and into production.

Mr. Wallenius graduated with a Bachelors of Business Administration in Accounting from Simon Fraser University, Burnaby, B.C. (1993) and became a Chartered Accountant in 1996. He worked as a Chartered Accountant for BDO Dunwoody and Collins Barrow in Vancouver, B.C., focusing on public company auditing. Mr. Wallenius has worked with public companies, including those in the resource sector, in various capacities since 1997, and has been responsible for: the accounting and regulatory departments; financing activities; stock exchange listing application and maintenance; and internal control set-up and systems for public reporting in both Canada and the United States.

Mr. Wallenius assumes the duties of CFO from Mr. Robert Mouat, who has stepped down as Interim CFO to focus solely on his directorial duties with the Company.

The Company also wishes to announce the resignation of Mr. William Murray as Vice President - Corporate Development. Mr. Murray has a long standing history with El Boleo and the Company, and will maintain his seat on the Company's Board of Directors in order to continue to contribute to the success and longevity of the El Boleo Project and the Company.

The Company thanks both Mr. Murray and Mr. Mouat for their dedication and service throughout their tenures and looks forward to their further input as the Company and El Boleo Project advance to the next stage of development.

Construction operations on site at El Boleo, Baja California Sur, Mexico, are advancing in a timely and positive manner under the direction of Mr. Michael Shaw, Vice-President Engineering and Construction, and Mr. Eric Norton, Vice President-Project Development and Operations.

The Company is well advanced in site clearing and preparation, with approximately 100 people on site (representing both the Company as well as its construction contractors) presently supporting the ongoing activities. The first stage of the cacti removal and relocation program has been completed. Cacti relocation on and around the plant site is an environmental necessity required under our permits and must be completed before foundation construction can commence. The Company has also commenced procurement and purchasing of long lead items in order to secure delivery for installation in 2009, with plant commissioning targeted for late 2009.



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.

Contact Information

  • Baja Mining Corp.
    John Greenslade
    (604) 685-2323
    (604) 629-5228 (FAX)