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Aker Kvaerner Awarded Copper Mine Construction Contract

Maritime Activity Reports, Inc.

July 25, 2006

Aker Kvaerner signed a contract with Phelps Dodge Mining Company for construction of a greenfield copper mine near Safford, Arizona. The total contract value for Aker Kvaerner is approximately $80m and will be booked as order intake in the second quarter 2006. The contract is undertaken by the Aker Kvaerner subsidiary, Aker Kvaerner Industrial Constructors, Inc. in Tucson, Arizona. The scope of work includes supply of crusher, conveyor, Solvent Extraction Electro-Winning (SXEW) and infrastructure installation.
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