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Weir Group secures £100m contract, largest-ever individual mining order

Weir Group PLC (LON:WEIR), one of the world’s premium providers of highly engineered mining equipment and services, has been awarded a £100m order to provide industry-leading energy saving solutions to the Iron Bridge Magnetite Project, a joint venture between Fortescue Metals Group Ltd subsidiary FMG Magnetite Pty Ltd and Formosa Steel IB Pty Ltd. The Project is located 145km south of Port Hedland in the Pilbara region of Western Australia. 

The order, which includes a range of Weir crushing and pump equipment including Enduron® High Pressure Grinding Rolls and GEHO® pumps, will reduce energy consumption and wet tailings waste by more than 30% compared to traditional mining technologies.

The Iron Bridge project is a US$2.6bn investment in premium magnetite iron ore reserves with annual production, when the mine is fully operational, of 22 million wet metric tonnes per annum.  Delivery of the first ore is expected in 2022.  

Responding to the award, Weir Group Chief Executive Officer, Jon Stanton said:

“We are delighted to have secured this landmark contract, which is Weir’s largest-ever individual mining order.  Fortescue challenged us to help create one of the most energy and cost-efficient magnetite ore processing facilities in the world.  Our engineers have worked relentlessly to design a solution that is truly innovative – delivering significant energy, water and cost savings. This is a great example of working in close partnership with an ambitious customer who shares our passion for using innovative engineering to make mining more productive and sustainable.”