REG - Weir Group PLC - Weir awarded £40m sustainable tailings contracts

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RNS Number : 2855M  Weir Group PLC  11 June 2025

11 June 2025

Press Release

Weir awarded £40m sustainable tailings solution contracts for one of the
world's largest tailings storage facilities in Talabre, Chile

Order including GEHO(â) positive displacement pumps, WARMAN(â) centrifugal
pumps, and ancillary equipment to be booked in Q2

 

Weir has been selected by Codelco, the world's largest copper producer, to
supply the tailings transport solution for the Talabre tailings dam expansion
project in the Atacama region of Chile. The brownfield expansion project will
combine the thickened tailings streams from three major mines in the area:
Ministro Hales, Chuquicamata, and Radomiro Tomic. The expansion is expected to
have a total productive life of 20 years, and handle a slurry thickened to ca.
70% solid content - creating the opportunity to reuse process water and
increasing the safety and stability of the storage facility.

The Weir solution includes a combination of GEHO(â) positive displacement
pumps and WARMAN(â) centrifugal pumps to handle the large volume and high
solid content of tailings from the three mines. With the full process enabled
with NEXT intelligent digital solutions, the combined equipment will transport
over 10 thousand dry tons per hour using less energy than other available
solutions.

The initial £40m contract awards will be booked in Q2 2025. In total, the
contracts represent the single largest order for Weir's GEHO(â) pumps,
underlining the benefits of this technology for large scale, energy-efficient
tailings transportation. We expect revenue to be recognised over the course of
Q4 2025 and early 2026 in line with project cut-off dates.  After
commissioning of the equipment, aftermarket support will be provided locally
via Weir's strong service centre presence in the region.

The receipt of orders associated with the contract award do not result in a
change to Weir's full year 2025 financial guidance as of 24 April 2025.

 

Commenting on the contract awards, Jon Stanton, Chief Executive Officer said:

"We are delighted to have secured these significant contracts for our tailings
management solutions, which include both our market leading GEHO(â) and
WARMAN(â) ranges that provide energy-efficient tailings transportation at
scale. Our engineers have developed a differentiated solution, particularly
addressing Codelco's stringent sustainability goals for operating in the
water-scarce climate and geology of the Atacama region. Our proven experience
on large scale tailings operations as well as local presence mean Codelco can
come to expect the world class service Weir is known for."

 

Disclaimer

This information includes 'forward-looking statements'. All statements other
than statements of historical fact included in this release, including,
without limitation, those regarding The Weir Group PLC's (the "Group")
financial position, business strategy, plans (including development plans and
objectives relating to the Group's products and services) and objectives of
management for future operations, are forward-looking statements. These
statements contain the words "anticipate", "believe", "intend", "estimate",
"expect" and words of similar meaning. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors that could
cause the actual results, performance or achievements of the Group to be
materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such forward-looking
statements are based on numerous assumptions regarding the Group's present and
future business strategies and the environment in which the Group will operate
in the future. These forward-looking statements speak only as at the date of
this document. The Group expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Group's expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based. Past business and financial performance cannot be relied
on as an indication of future performance.

 

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
and digital solutions enable 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 50 countries with a presence in every
major mining region of the world. Find out more at www.global.weir
(http://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).

 

 Enquiries:
 Investors: Philip Carlisle          +44 (0)141 308 3617
 Media: Sally Jones                  +44 (0)141 308 3666
 CDR: Claire de Groot/Sabine Pirone  +44 (0) 794 757 0581

                                      weir@cdrconsultancy.com

 

 

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