Saudi Arabian Mining Company (Ma'aden) awarded Outotec a EUR 140 million gold processing plant order

OUTOTEC OYJ  INSIDE INFORMATION  APRIL 30,  2019 AT 3:30 PM

Saudi Arabian Mining Company (Ma'aden) awarded Outotec a EUR 140 million gold processing plant order

In a major international competitive bidding process, the Saudi Arabian Mining Company (Ma'aden) has awarded the consortium of Outotec and Larsen & Toubro with an engineering, procurement and construction contract to build a greenfield mineral concentrator and gold processing plant in the Kingdom of Saudi Arabia. Outotec's share of the project is over EUR 140 million. The order is almost evenly shared between the reporting segments and will be booked into Outotec's second quarter 2019 order intake. The total value of the project is approximately EUR 540 million.

Outotec's delivery includes basic and detail engineering, procurement and delivery of process equipment, commissioning, start-up assistance and training services. The new gold processing plant is due to be completed in 2022.

Ma'aden is the champion of the Saudi Arabian mining industry, and now internationally recognized mining company with global presence. The Mansourah & Massarah mines and processing plant will be built in the Central Arabian gold region. The processing plant will be capable of processing up to four million tonnes of ore per annum. The concentrator and the gold processing plant is designed producing an average of 250,000 ounces of gold per year over the life of mine.

"We are extremely pleased with this significant order and continued cooperation with Ma'aden that is growing to be a global mining company. Our previous deliveries have included grinding, flotation and filtering technologies as well as alumina calcination technology, and three sulfuric acid plants. Our proven technologies and services enable them to get the best value from their resources and build sustainable operations," says Markku Teräsvasara, CEO of Outotec.

For further information please contact:

OUTOTEC OYJ

Kimmo Kontola, President - Minerals Processing business
tel. [phone]

Kalle Härkki, President - Metals, Energy & Water business unit
tel. [phone]

Saija Kinanen, Director - Corporate Communications
tel. [phone]

e-mails [e-mail]

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Source: Outotec Oyj via Globenewswire