Aker Solutions undertakes Bozshakol Copper Project feasibility study for Kazakhmys

6/30/2010, 12:07 PM (Source: GlobeNewswire)
30 June 2010 - Kazakhmys PLC awarded Aker Solutions a contract for the provision
of services for a feasibility study of the development of the processing
facility for the proposed Bozshakol Copper project. The Bozshakol Copper project
will be a major new development for Kazakhmys and builds on Aker Solutions'
current activities and experience in Kazakhstan. The contract value to Aker
Solutions is approximately USD 15 million.

The proposed Bozshakol Copper Project is a greenfield site situated near the
village of Bozshakol, approximately 220km Northeast of Astana in North Eastern
Kazakhstan. The proposed facility will incorporate a conventional copper
concentrator plant, with expected throughput of 28 million tonnes per annum.

The site is one of the world's largest undeveloped copper deposits with an
estimated resource of around 1 billion tonnes of ore at 0.34% copper grade over
the life of the mine, including significant other metals (gold, molybdenum).
Forecast projection levels indicate the mine life to be around 39 years, making
Bozshakol a significant global copper resource.

"The project represents an opportunity to capitalise on Aker Solutions' global
mining and metals knowledge and expertise in the design and construction of
copper processing facilities," said Gary Mandel, EVP, Aker Solutions. "Bozshakol
continues Aker Solutions' seven years of continuous work developing the world's
largest copper projects."

The engineering element of the feasibility study is being delivered from our
Aker Solutions office in Brisbane, Australia and is scheduled for completion in
October 2010. The current intention is for Aker Solutions to continue, subject
to successful close-out of contract negotiations, into the execution phase after
the feasibility study completion under an EPCM contract form. First concentrate
is planned to be produced in 2014.

The Aker Solutions' contracting entity for these works is the Aker Solutions'
subsidiary Aker Process B.V.

ENDS


For further information, please contact:

Media:
Susan Lambe, Senior Communications Advisor, Aker Solutions. Tel: +61
7 3246 9129, Mob: +61 413 606 583

Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39,
Mob: +47 911 37 194

Suppliers:
For further information about sourcing and potential subcontracts for this
project, please contact Rodger Liang, Global Sourcing Champion, Process &
Construction - Tel: +86 10 640 966 36.

Career opportunities:
Visit http://www.akersolutions.com/Internet/CareerCentre

Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"),
is a leading global provider of engineering and construction services,
technology products and integrated solutions. Aker Solutions' business serves
several industries, including oil & gas, refining & chemicals, mining & metals
and power generation. The Aker Solutions group is organised in a number of
separate legal entities. Aker Solutions is used as the common brand/trademark
for most of these entities.

Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has
aggregated annual revenues of approximately NOK 58 billion and employs
approximately 22 000 people in about 30 countries.

Aker Solutions is part of Aker (www.akerasa.com), a group of premier companies
with a focus on energy, maritime and marine resource industries. The Aker
companies share a common set of values and a long tradition of industrial
innovation. As an industrial owner controlling 40.27 percent of the shares in
Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the
development of Aker Solutions.

This press release may include forward-looking information or statements and is
subject to our disclaimer, see www.akersolutions.com.



[HUG#1428514]








This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.

Source: Aker Solutions ASA via Thomson Reuters ONE
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.