Besieged Baja Mining suffered another setback on Thursday after Mount Kellett Capital Management, the company’s largest shareholder, announced it wouldn’t provide debt or equity financing for the Boleo project in Mexico.
CEO Nicholas Curtis says he underestimated the power of social media as local residents in Malaysia have used Facebook and Twitter to rally local and foreign opposition to the company's proposed rare-earths plant.
China is restricting the export of rare earths to protect its environment, said Su Bo, vice-minister of industry and information technology at a news conference in Beijing on Wednesday.
Besieged Baja Mining (TSX:BAJ) added another 14% on Wednesday following good gains the day before to trade at $0.205 after announcing it had negotiated a 45-day standstill agreement with lenders for its Boleo project.
The Democratic Republic of Congo’s Ministry of Mines went on the defensive on Monday about allegedly granting mining licenses to companies with close connections to the government. It qualified those accusations as uninformed and a “double standard."
