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Weir Wins £100 Mln Order For Iron Bridge Magnetite Project In Australia

British engineering business Weir Group Plc (WEIR.L) announced Friday that it has been awarded a 100 million pounds order for Australian magnetite iron ore project.

Under the deal, the company would provide 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 Iron Bridge project is located 145km south of Port Hedland in the Pilbara region of Western Australia. The project is a $2.6 billion 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.

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

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