Press release October 22, 2013 10:00:00 AM CET

Metso to deliver key minerals processing equipment for Alderon's Kami Iron Ore Project in Canada

Metso Corporation's press release on October 22, 2013 at 11:00 a.m. local time

Metso's solid presence in Quebec and proven reliability in customer service were key factors in Alderon's choice

Alderon Iron Ore Corp., along with Hebei Iron & Steel Group Co. Ltd. ("HBIS"), have selected Metso grinding mills to deliver efficiencies and meet production goals for the joint-owned Kami Iron Ore Project, located in Newfoundland and Labrador, Canada.

As part of the effort to secure long-lead mining and processing equipment for the project, Alderon and HBIS placed an order for two Metso grinding mills: one autogenous (AG) mill and one ball mill. The order is included in Metso Mining and Construction's Q3 2013 orders received. The value of the order will not be disclosed.

Alderon, who owns 75 percent of the Kami Project, views this contract as an important step for the project. Tayfun Eldem, President and CEO of Alderon, explains the significance of securing Metso equipment for the plant: "This order is an exciting step for Alderon, as these mills are the cornerstones of our new process plant."

Given its manufacturing and services presence in Lachine, Quebec, Metso was a clear choice for the contract. A majority of the ball mill (fabrication of shell, machining of mill heads and trunnions), as well as a portion of the AG mill (machining of mill heads and trunnions) will be manufactured at the Lachine facility. Plus, many key Alderon personnel had previous experience with reliable and high-quality services from the Metso team in Lachine - a factor that weighed heavily on the company's final decision.

Metso's AG and ball mills enable the mine to reach its production targets

Metso's mill delivery will help the mine reach its 8 million-ton-per-year production goal. The AG mill is 11 meters (36 feet) in diameter and 7 meters (23 feet) in length, with a 15 megawatt power rating. The ball mill is 6.7 meters (22 feet) in diameter, 12.5 meters (41 feet) long, and has a 10 megawatt power rating.

The Metso grinding mills are scheduled for delivery in Q4 2014, with the Kami Project slated to begin production of iron ore concentrate by the end of 2015.

Alderon is an iron ore development company based in Canada, with offices in Vancouver, Montreal, St. John's and Labrador City. The Kami Project, owned 75% by Alderon and 25% by HBIS, is located within Canada's premier iron ore district and is surrounded by four producing iron ore mines.

Metso's mining and construction professionals specialize in always bringing the right technology, processes, machinery and services to our customers in the aggregates production, construction, mining and minerals processing and in metal and waste recycling. Expect results.
www.metso.com/miningandconstruction

Metso is a global supplier of technology and services to customers in the process industries, including mining, construction, pulp and paper, power, and oil and gas. Our 30,000 professionals based in over 50 countries contribute to sustainability and deliver profitability to customers worldwide. Metso's shares are listed on the NASDAQ OMX Helsinki Ltd.
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For further information, please contact:
David Kowalski, Senior Vice President, Market Americas, Mining and Construction, Metso, tel +1 412 269 5115