The Udokan project is located in the Kalarsky District in the far east of Russia. The contract price is approximately €250 million (US$283 million), of which approximately €35 million will be booked in Outotec's June quarter order intake.

Outotec's delivery includes basic and detail engineering of the concentrator and copper hydrometallurgical plant, procurement, delivery of main process equipment as well as installation supervision, training and start-up services.

The new metallurgical complex is expected to operate with the annual capacity of 12Mt of ore and producing 130,000t of copper as high grade sulphide concentrate and as cathodes. Outotec's main deliveries are expected to take place in 2020.

Markku Teräsvasara, CEO of Outotec, said: "Udokan is the world's third largest known undeveloped copper deposit. We are extremely pleased about being selected as a technology partner in this significant project. Our proven technologies and services enable Baikal Mining Company to develop their operations in a sustainable way and get the best value from their assets."

Valery Kazikayev, chairman of the board of directors at Baikal Mining Co, commented: "As a result of years of research, together with leading Russian and international engineering companies, we have developed a unique flowsheet for processing the Udokan copper deposit. With Outotec's expertise and technologies we can automate the processes to the maximum extent."