OUTOTEC OYJ STOCK EXCHANGE RELEASE, OCTOBER 3, 2008 AT 3.00 PM
Outotec to deliver concentrator technology worth over 175 million euro for the Miheevsky project in Russia
Outotec has signed a major contract with ZAO Miheevsky GOK, a subsidiary of Russian Copper Company, for the design and delivery of a new copper concentrator plant for the Miheevsky porphyry-copper project located in Chelyabinsk, Russia. The contract value exceeds EUR 175 million. Russian Copper Company will implement the construction of the Miheevsky mine based on project financing.
Outotec's scope of delivery covers engineering for the whole concentrator plant, supply of major process equipment in six delivery packages, spare parts and training as well as site supervision services for installation and start-up. The concentrator equipment will include among others two large semi-autogenous (SAG) grinding mills each with a diameter of 36 feet, and twelve world's largest TankCell(r) 300 flotation machines. The equipment deliveries will take place during 2010 and 2011.
The Miheevsky concentrator plant is planned to treat annually 20 million tons of copper ore and it is expected to be commissioned in early 2012.
The order will be booked in Outotec's order backlog gradually along with the initiation of each delivery lot with approximately EUR 30 million during the fourth quarter of 2008.
"Outotec has been a long-term strategic partner for Russian Copper Company, which is the third largest copper producer in Russia. We have designed and delivered their two concentrators at Aktobe in Kazakhstan. Our cooperation continues now with this notable project in Russia, where Russian Copper Company already operates two smaller concentrator plants, three metallurgical plants and a solvent extraction and electrowinning plant. Equipment for these plants was delivered mainly by Outotec. In addition to this new Miheevsky concentrator, we are also currently delivering for the same project a solvent extraction and electrowinning plant to treat a layer of oxide ore", says Tapani Järvinen, President and CEO of Outotec.
For further information please contact:
Jari Rosendal, President - Minerals Processing division
tel. +358 20 529 2700, +358 40 595 1456
Eila Paatela, Vice President - Corporate Communications
tel. +358 20 529 2004, +358 400 817 198
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