RCS - Weir Group PLC - Weir study on energy in mining

WeirAnnouncement

04/12/2023 13:30

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RNS Number : 5998V  Weir Group PLC  04 December 2023

 

New study by Weir highlights big energy saving opportunity in mining

 

The Weir Group PLC, a global mining technology leader, has completed a
comprehensive study that highlights a significant opportunity to reduce energy
use and emissions in comminution, the rock crushing process that is key to
minerals extraction, and that consumes around 3% of the world's electrical
power each year(1). The study shows that replacing conventional technology
with innovative new solutions can cut energy use by 40% while also avoiding
50% of CO(2)e emissions.

Speaking at a COP28 panel discussion hosted by the Ministry of Economy, Trade
and Industry of Japan and moderated by the World Business Council for
Sustainable Development (WBCSD), Paula Cousins, Chief Strategy and
Sustainability Officer at Weir revealed the details of the study that
demonstrates how using innovative technologies to crush rocks can yield
significant sustainability benefits at lower operating cost.

The findings of the study come at an important time. Metals, such as copper,
nickel and lithium, are critical elements of the technologies that will power
a low carbon future and it is widely accepted that a substantial increase in
the production of these metals is needed for the transition to net zero. In
response, the mining industry is actively seeking to adopt new technologies
which extract and process those metals in more energy efficient and
sustainable ways, alongside increasing the use of renewable power.

Weir's study focuses on comminution - the crushing process that turns big
rocks into tiny particles to expose the entrapped mineral so that it can be
extracted later in the mining process. Comminution is the most energy
intensive stage of a typical mine site process. It is already electrified and
is responsible for at least one-third of an average mine's energy use and
CO(2)e emissions(1) and globally consumes around 3% of the world's electrical
power(1).

 

Given its energy intensity, the decarbonisation opportunities in comminution
are huge, with the basic comminution process not having changed significantly
for many decades. Weir is collaborating with customers and other partners to
redefine the process, developing innovative combinations of proven
technologies to make significant improvements to efficiency and environmental
performance.

 

Unveiling the study during the panel discussion at COP28, Paula Cousins, Chief
Strategy and Sustainability Officer at Weir said:

"The need for technology solutions in mining is compelling - the world needs
more transition metals to achieve net zero, but the mining industry needs to
extract these using significantly less energy and water. Our new, externally
assured study highlights the potential for energy savings of 40% and for 50%
of CO(2)e emissions to be avoided in comminution, the most energy intensive
stage of mining processes. By adopting a systems-based approach to technology
collaborations, we can help the mining industry scale up and clean up at the
same time".

The full video of the panel discussion will be made available to view by the
Ministry of Economy, Trade and Industry of Japan shortly.

About the avoided emissions study

The study is the first to utilise WBCSD's Avoided Emissions Guidance to study
mining processes and the avoided emissions results have been independently
assured by SLR Consulting Limited. Three of Weir's technology combinations
were evaluated against a conventional comminution circuit design for an
archetypal mine processing 15 million tonnes of copper ore per year in Chile.

All three of the technology combinations are shown to yield sizeable benefits
versus the traditional circuit. In the optimal combination, the comminution
process consumes around 40% less energy and can avoid up to 50% of CO(2)e
emissions. Importantly, there is no trade off elsewhere, as the redefined
process uses less water too.

Further details of the avoided emissions study are available here
(https://www.global.weir/globalassets/sustainability/performance--reporting/statement-of-assurance---weir-avoided-emissions-4-circuits_issued241123_.pdf)
.

1. CEEC International, 2021: Mining Energy Consumption:
https://www.ceecthefuture.org/resources/mining-energy-consumption-2021

 Enquiries:
 Investors: Edward Pears   +44 (0) 141 308 3725

 Media: Sally Jones        +44 (0) 141 308 3666

 Citigate Dewe Rogerson:   +44 (0) 207 638 9571

 Kevin Smith               Weir@citigatedewerogerson.com (mailto:Weir@citigatedewerogerson.com)

 

About The Weir Group PLC

Founded in 1871, The Weir Group PLC is one of the world's leading engineering
businesses with a purpose to make its mining and infrastructure customers'
operations more sustainable and efficient. Weir's highly engineered technology
enables critical resources to be produced using less energy, water and waste
while reducing customers' total cost of ownership. 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. The Group has c.12,000 employees
operating in over 60 countries with a presence in every major mining region of
the world. Find out more at www.global.weir.

 

Weir's ordinary shares trade on the London Stock Exchange (ticker: WEIR LN)
and its American Depositary Receipts trade over-the-counter in the USA
(ticker: WEGRY).

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