Weir Group PLC Weir wins GBP95m aftermarket order (0145H)
01 Diciembre 2020 - 1:00AM
UK Regulatory
TIDMWEIR
RNS Number : 0145H
Weir Group PLC
01 December 2020
Weir wins GBP95m aftermarket order to support Iron Bridge
magnetite Project in Australia
The Weir Group, a leading provider of premium mining
technololgy, has won a GBP95m order to provide aftermarket
components and service to the Iron Bridge magnetite Project in
Western Australia.
The aftermarket contract follows Weir's success in winning a
record GBP100m order for original equipment for the Iron Bridge
project in 2019, including its innovative Enduron(R) High Pressure
Grinding Rolls (HPGRs) that enable dry processing of ore and use at
least 30% less energy than traditional alternatives.
The Iron Bridge magnetite Project is a US$2.6bn joint venture
between Fortescue Metals Group's subsidiary FMG Magnetite Pty Ltd
and Formosa Steel IB Pty Ltd and is located in the Pilbara region,
around 145 kilometres south of Port Hedland.
Both the aftermarket order and revenues will be recognised over
the seven year period of the agreement which starts in 2022, in
line with the Project's initial production.
Ricardo Garib, President of Weir Minerals said:
"This is another landmark order for Weir. Having helped design
an energy and water efficient magnetite processing plant, we are
delighted to provide operational support for Iron Bridge from 2022.
It is an excellent example of the value that Weir's innovative
engineering and close customer support can create for all our
stakeholders and reflects the key role we have to play in making
mining operations more sustainable and efficient."
Weir's Enduron(R) HPGRs are increasingly replacing conventional
mills in comminution (crushing, screening and grinding) circuits.
In addition to their energy and water savings they also reduce
grinding media consumption, while their wearable components last
longer, reducing maintenance costs. Additionally, HPGRs contribute
significantly to carbon dioxide emission savings.
Stuart Hayton, Managing Director of Weir Minerals Netherlands,
where the Enduron(R) HPGRs are designed and manufactured
commented:
" This is an important project for Weir and for the broader
mining industry. We know comminution is one of the most energy
intensive parts of the mineral process and with our Enduron(R)
HPGRs we have a unique ability to offer significant cost, energy
and water savings to customers around the world. As the mining
industry evolves we are commited to continuing to innovate,
reducing miners' costs and environmental impact."
This latest contract award means Weir now has more than GBP200m
of orders from the Iron Bridge Project including its Enduron(R)
HPGRs, GEHO(R) and Warman(R) pumps, Cavex(R) Hydrcyclones and
Isogate(R) valves.
To support the Project and future growth, Weir will build a new
service centre in Port Hedland, Western Australia, thereby
providing employment and training opportunities in the area, with a
particular emphasis on supporting greater Aboriginal representation
in the broader mining workforce.
About The Weir Group PLC
Founded in 1871, The Weir Group PLC is a premium mining
technology business whose purpose is to make customers' operations
more sustainable and efficient. The Group is ideally positioned to
benefit from structural trends that support long-term demand for
its technology including the need for more essential metals to
support economic development and carbon transition. Weir's highly
engineered technology enables these critical resources to be
produced using less energy, water and waste - reducing customers'
total cost of ownership. The Group has c.13,000 employees in over
60 countries.
Enquiries:
Investors: Stephen Christie +44 (0) 141 308 3707
Media: Chris Barrie / Kevin +44 (0) 207 638 9571
Smith at Citigate Dewe Rogerson Weir@citigatedewerogerson.com
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