Aker Kvaerner successfully completes Equinox Copper Ventures Feasibility Study in Zambia
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION IN OR INTO THE UNITED STATES.
The feasibility study confirmed the viability of a stand alone processing facility at Lumwana producing concentrate on-site and utilising the Roast-Leach-Electrowin (RLE) process route to produce LME grade copper cathode. The state-of-the-art process plant is designed to treat 18 million tonnes per year of sulphide copper ore stream from both ore bodies to produce 400,000 tonnes copper concentrate per year and during years 6 to 20 when the RLE Plant is commissioned, 100,000 tonnes copper cathode, 1,000 tonnes cobalt powder and 230,000 tonnes concentrated sulfuric acid per year.
The development schedule for Lumwana indicates that the Lumwana project could be brought into production by 2006. Following completion of the study the critical financing stage should take approximately 12 months. This will lead into an 18-month construction period, and commissioning, with production estimated to commence in 2006.
Robert Rigo, Equinox Copper Ventures Project Manager for the Lumwana Project commented "we are very pleased with the comprehensive bankable feasibility study that Aker Kvaerner Australia has delivered and given the favorable Zambian development environment for copper we are optimistic regarding the future of developments of this kind".
The study was completed in the Aker Kvaerner Australia's Perth Office. Aker Kvaerner Australia's contract was for AUD 2.5 million with the total BFS valued at USD 13 million. The completed study covered infrastructure, mining and processing and included preliminary design, engineering and cost estimates for the proposed mining, process plant and associated facilities.
Paul Swinyard, Regional Manager for Aker Kvaerner Australia advised, "We have had positive feedback from the client and look forward to supporting Equinox in the next critical stage of this exciting development".
ENDS
For further information, please contact:
Tom Hunter, Business Development Manager, Metals. Tel: +617 3246 9149
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 span a number of industries, including Oil & Gas production, Refining & Chemicals, Mining & Metals, Power, Pharmaceuticals & Biotechnology, Pulping and Shipbuilding. Aker Kvaerner has aggregated annual revenues of approximately USD 5.5 billion and employs around 28,000 employees in more than 30 countries. The Aker Kvaerner group consists of 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.The business area Oil, Gas, Process & Energy executes technology development, engineering and construction services for industries as diverse as Oil & Gas Onshore and Offshore Developments, Chemicals & Polymers, Pharmaceuticals, Government Services, and Mining & Metals.
Aker Kvaerner Australia
has established a position as one of the country's leading technology-based engineering and construction contractors. Through involvement in many landmark developments spanning some 55 years, the company has built a strong track record based on the successful delivery of engineering and construction projects throughout Australia, New Zealand and South East Asia. Aker Kvaerner Australia employs approximately 360 experienced personnel and has established offices in Melbourne, Brisbane and Perth. Aker Kvaerner Australia services the following industries; Metals, Hydrocarbons, Chemical and Polymers.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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