OUTOTEC OYJ INSIDE INFORMATION JUNE 7, 2019 11:00 PM
Outotec awarded EUR 250 million copper plant for Baikal Mining Company in Russia
In addition to Outotec's announcement on June 7, 2019 at 2:10 pm, Outotec has now signed a contract with Baikal Mining Company for the design and delivery of a greenfield copper concentrator and hydrometallurgical plant for the Udokan project located in the Kalarsky District in the Russian Far East. The contract price is approximately EUR 250 million of which approximately EUR 35 million will be booked in Outotec's second quarter order intake. Roughly two thirds of the order will be booked for Minerals Processing and one third for Metals, Energy & Water segment.
Outotec's delivery includes basic and detail engineering of the concentrator and copper hydrometallurgical plant, procurement, delivery of main process equipment as well as installation supervision, training and start-up services.
The new metallurgical complex is expected to operate with the annual capacity of 12 million tonnes of ore and producing 130,000 tonnes of copper as high grade sulphide concentrate and as cathodes. Outotec's main deliveries are expected to take place in 2020.
"Udokan is the world's third largest known undeveloped copper deposit. We are extremely pleased about being selected as a technology partner in this significant project. Our proven technologies and services enable Baikal Mining Company to develop their operations in a sustainable way and get the best value from their assets," says Markku Teräsvasara, CEO of Outotec.
"As a result of years of research, together with leading Russian and international engineering companies, we have developed a unique flowsheet for processing the Udokan copper deposit. With Outotec's expertise and technologies we can automate the processes to the maximum extent," says Valery Kazikayev Chairman of the Board of Directors of the Baikal Mining Company.
For further information please contact:
Kimmo Kontola, President - Minerals Processing business unit
tel. +358 40 822 7100
Kalle Härkki, President - Metals, Energy & Water business unit
tel. +358 20 529 211
Saija Kinanen, Director - Corporate Communications
tel. +358 20 529 2044, +358 40 187 5353
NASDAQ OMX Helsinki