Outotec to deliver technology worth EUR 40 million for Talvivaara in Finland

OUTOTEC OYJ STOCK EXCHANGE RELEASE, AUGUST 21, 2007 AT 11.00 AM

Outotec has been awarded a contract by Talvivaara Project Ltd. for the supply of metals recovery technology for Talvivaara's nickel project in Sotkamo, Finland. The total contract value is approximately EUR 40 million.

The Talvivaara deposits comprise one of the largest known sulphide nickel resources in Europe, and they have the potential to provide approximately 2.3% of the world's current annual production of nickel by 2010. Talvivaara's key technology is bioleaching, which is utilized to extract metals from the ore.

Outotec's scope of delivery covers metals recovery technology, including reactors and thickener technology, in which nickel, copper, zinc and cobalt are precipitated from the pregnant leach solution to produce saleable metal products. Technologies will be commissioned in two phases; the first phase is expected to be commissioned in October 2008 and the second phase in autumn 2009. 

"The Talvivaara nickel project is an important step in the history of bioleaching. Talvivaara's bioheapleaching technology has its origins at Outotec's Pori research center in Finland and now this technology will be in commercial use and allow economical beneficiation of the low-grade nickel deposits", says Outotec's CEO Tapani Järvinen.

For further information please contact:

OUTOTEC Oyj

Jari Rosendal, President - Minerals Processing division

tel. +358 20 529 2700, mobile +358 40 595 1456

e-mail: jari.rosendal(at)outotec.com

Eila Paatela, Vice President - Corporate Communications

tel. +358 20 529 2004, mobile +358 400 817198

e-mail: eila.paatela(at)outotec.com

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