The Spence project will develop the copper ore deposit located in Chile's Region II, approximately 65 kilometres south-west of the city of Calama in northern Chile. The project includes an open pit mine, crushing, conveying, dynamic heap leaching, dump leaching, solvent extraction and electrowinning facilities.

Consistent with the corporate goals of both BHP Billiton and Aker Kvaerner, an objective for this project will be "zero harm" ("Cero Daño") for people, the environment and the community. "We intend to work closely as a team, to implement this project with top performance in all areas of health, safety, environment and community", said Jim McGrath, President of Aker Kvaerner Metals, Inc.

Aker Kvaerner was awarded the initial work in April 2003 which included a revision of the existing feasibility study including several trade-off studies aimed at incorporating and advancing technical developments from other recent successful extraction and electrowinning projects, including the BHP Billiton owned Tintaya Oxide project.  Following completion of the feasibility study, Aker Kvaerner has been advancing with the detailed engineering.

Riochilex S.A. is a wholly owned subsidiary of BHP Billiton and holds 100 per cent interest in the Spence Project. Contract partner from Aker Kvaerner is Kvaerner E&C Worldwide Corporation.

ENDS

 

Media:
Torbjørn Andersen, SVP Group Communications, Aker Kvaerner. Mobile phone: +47 928 85 542

 

Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner. Tel: +47 67 51 30 39

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, Pharmaceuticals & Biotechnology, Power Generation and Pulp & Paper. Aker Kvaerner has aggregated annual revenues of approximately USD 4.5 billion and employs around 22,000 people 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.

 

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. With an annual turnover of US$1.14 billion, Oil, Gas, Process & Energy (OGPE) business area of Aker Kvaerner employs more than 5,400 people operating worldwide.

 

Aker Kvaerner Metals serves mining and mineral processing companies by providing studies, project management, EPCM, commissioning and start-up services. Offices are located in Houston, Texas; Santiago, Chile; Toronto, Canada; San Ramon, California and Salt Lake City, Utah. Services to the Metals industry are also provided by AK Engineering Services in Europe, Aker Kvaerner Australia, and Kvaerner U.S. Inc. (serving iron and steel clients from Pittsburgh, Pennsylvania). These organisations work closely together in support of our clients.

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