Fortescue Metals contracts Weir for Iron Bridge

By Staff reporter / September 07, 2019 / / Article Link

Weir Group chief executive officer Jon Stanton described the Scotland-headquartered company's "largest-ever individual mining order" as a landmark deal.

"Fortescue challenged us to help create one of the most energy and cost-efficient magnetite ore processing facilities in the world," Stanton said.

"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."

Weir maintains its Enduron HPGRs made in the Netherlands are replacing conventional mills in crushing, screening and grinding circuits due to demonstrated energy consumption advantages and "potential for significant total cost of ownership reduction".

"Not only do they require as much as 40% less energy than traditional alternatives, but their wearable components last much longer and the maintenance time required to replace worn out parts is significantly lower," the company says.

Weir Minerals Netherlands managing director Stuart Hayton said he was seeing rising demand for the HGPRs and GEHO pumps also made in the country because they outperformed older products.

"We are seeing growing demand for these technologies because of their significant benefits compared to older products. Comminution is one of the most energy intensive processes in the world and the ability to deliver substantial reductions in costs, energy and water use not only supports miners' profitability but also the sustainability of our industry," Hayton said.

Weir closed slightly higher in London Friday at £14.88, capitalising the company at £3.86 billion. The shares are up 16% since the start of 2019 but well off the 52-week high reached earlier this year of £18.19.