Aker Kvaerner awarded Palmarejo Mining project

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25 March 2008 - Aker Kvaerner, S.A de C.V, ("Aker Kvaerner") has been awarded a contract to perform construction management of the Palmarejo Mining Project for Coeur d'Alene Mines Corporation. The approximate processing capacity target for the project is 2 million metric tons of ore per year.
 
The scope of work includes construction management services for the infrastructure and process plant areas of this silver and gold processing facility, including cyanide leaching and electrowinning processes, plant's infrastructure of access roadways, sewage treatment plant, waste disposal facilities, fresh water storage and distribution system, campsite, administration offices, first aid facility, laboratory, warehouse, truck shop and main substation. The plant processing facilities will include a crushing and grinding circuit, conventional floatation of silver sulfide and gold concentrate, thickening and cyanide leaching of floatation concentrate and tailings, precious metals recovery plant and thickening/electrowinning with cyanide destruction and disposal of tailings in a conventional tailings dam.


The project is located in the Sierra Madre Mountains, adjacent to the town of Palmarejo in the state of Chihuahua, Mexico, elevated some 3,200 ft above Mean Sea Level. Access to the site is by gravel road from Chihuahua or by air to a small local airstrip. In addition to the challenges in accessing the site, the Aker Kvaerner team also faces a tight schedule, weather conditions, and site communications.


ENDS
 
For further information, please contact:
 
Media:
Nick Vonas, Systems Manager, Aker Kvaerner Global Construction.  Tel: +1 713-270-2597, Mob: +1  832-202-7586


Donna Rougeaux, Vice President Communications, Aker Kvaerner Process & Construction.  Tel:  +1 713 270 2407, Mob:  +1 832 2776955


Jannik Lindbæk, SVP Corporate Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 977 55 622
 
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Kvaerner. 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, VP Supply Management, Aker Kvaerner. Tel: +86 10 640 966 36


 
AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals and Power Generation. The Aker Kvaerner group is organised in a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.


The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 58 billion and employs approximately 24 000 people in about 30 countries.


Aker Kvaerner is part of Aker (www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine-resources industries. The Aker companies share a common set of values and long traditions of industrial innovation. Through its majority owned holding company Aker Holding AS, Aker controls 40.27 percent of the shares in Aker Kvaerner, and takes an active role in the development of Aker Kvaerner.


Aker Kvaerner's Process and Construction business area is a world leader in the project management, design and construction of major projects spanning refining, petrochemical processing, metals and mining, power generation, and acid plants.  From initial concept through technology development, process technology application, design, procurement, construction, commissioning, operations, maintenance, modification and decommissioning, we provide our customers with the full life cycle of services.  Process and Construction provides sound local expertise, combined with the depth and strength of global project operations.   
 
Aker Kvaerner Global Construction Management provides construction management services worldwide to a wide range of industries, such as the refining, petrochemical, oil & gas, power generation, chemical, mineral processing, pulp and paper, bioenergy industries, and LNG regasification terminals. Construction services include pre-construction planning; procurement and materials management; turnarounds; safety management; subcontract management; environmental, health & safety management; quality management; commissioning and start-up support; and maintenance. Drawing from a vast pool of construction professionals with extensive experience in these industries, Aker Kvaerner Global Construction Management provides teams of managers, superintendents, specialists and specialty crafts people tailored to any specific project.


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

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