The method of the invention is mainly characterized in that the oxidation is carried out by leading a supply stream of bitumen or the like and an air stream or another pressurized gaseous oxidant to a reactor which is a so-called rotating apparatus and in which reactor the contact between the air or other gaseous oxidant and the bitumen or the like is improved by generating turbulence by mixing devices of rotor-stator type that generate shear forces to achieve a good mixing.

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