RNS Number : 6200I
Bateman Engineering N.V.
21 November 2008
Bateman Engineering N.V.
('Bateman Engineering' or the 'Company')
Handover of Lumwana Processing Facilities accepted by Equinox
Bateman Engineering is pleased to announce that Equinox Minerals Limited has accepted handover of the process plant and other related infrastructure for the Lumwana Copper Project in Zambia, with the Engineering Procurement and Construction (EPC) contract now at practical completion.
The USD408 million EPC contract for the Lumwana Copper Project, awarded to a joint venture between Bateman International Projects BV (part of the Bateman Engineering Group) and Ausenco Projects Limited, became effective in 2007. Crushing of material at the primary crusher commenced in October 2008, with the 4.5 km conveying circuit transporting crushed material to the fine ore stockpile at the copper concentrator.
Plant commissioning with ore will now commence and plant ramp-up will take place over the coming months. Initial concentrate is expected to be produced next week, with shippable quantities of commercial grade concentrate from December 2008.
The project was originally anticipated for handover in July 2008, however a fire at the project on 7 July 2008 damaged the main 20MVA transformer and adjacent 11kV substation and delayed the project for 4 months. No one was injured in the incident.
Commenting on the plant handover, Eddie du Rand, CEO of Bateman Engineering, said:
'The handover of this project is an important milestone for us as it represents one of our largest and most prestigious projects to date, as well as underscoring the role we can play in Central Africa and the Copperbelt in particular. It is also pleasing to note how quickly the replacement of equipment and repairs to the damaged area were expedited following the fire in July, and I would like to thank all those involved.'
Mr Craig Williams, Equinox's President and CEO, commented:
'Equinox is pleased to accept handover of the Lumwana process facilities and commence ore commissioning and production ramp up. We are very pleased to bring on line the largest copper mine on the African continent which will not only be a long term, low cost copper producer, but will make a major economic and social contribution to Zambia. I would personally like to thank our EPC Contractors Ausenco-Bateman, and pay particular tribute to Equinox management and employees whose outstanding efforts, project management skills and resolve have delivered a high quality asset at a remarkably low capital cost.'
20 November 2008
Enquires:
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Bateman Engineering
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Eddie Du Rand, CEO
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+31 20 502 2370
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Pieter du Plessis, CFO
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+31 20 502 2370
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Dresdner Kleinwort
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Chris Treneman
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+44 20 7623 8000
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Alex Metherell
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+44 20 7623 8000
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Andrew Hollins
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+44 20 7623 8000
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College Hill
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Adam Aljewicz
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+44 20 7457 2029
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Note for editors:
Bateman Engineering is a technology-driven engineering-project house serving the minerals and metals industries worldwide. Bateman Engineering's shares (BATE.L) are traded on AIM, a market of the London Stock Exchange.
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