Glasgow's Weir Group hails 'landmark' £95m order Down Under

Weir Group, the Glasgow-headquartered global engineer, has been transformed into a 'premium mining technology pure play' after sealing a major deal to sell its oil and gas division.

The firm will provide aftermarket components and service to the Iron Bridge magnetite project in Western Australia. It follows the group’s success in winning a record £100m order for equipment for the project in 2019.

The project is multi-billion-dollar joint venture between Fortescue Metals Group’s subsidiary FMG Magnetite and Formosa Steel and is located in the Pilbara region, some 145 kilometres south of Port Hedland.

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.”

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.

Stuart Hayton, managing director of Weir Minerals Netherlands, where the grinding equipment is designed and manufactured, added: “This is an important project for Weir and for the broader mining industry.

“As the mining industry evolves we are committed to continuing to innovate, reducing miners’ costs and environmental impact.”

Founded in 1871, Weir Group has some 13,000 employees in more than 60 countries.

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