Weir Group Regulatory News (WEIR)

Weir wins record £100m order for Australian magnetite iron ore project

The Weir Group PLC (Weir), one of the world's premium providers of highly engineered mining equipment and services, has been awarded a £100m order to provide industry-leading 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 Project is located 145km south of Port Hedland in the Pilbara region of Western Australia.

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

The Iron Bridge project is a US$2.6bn 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.

Responding to the award, Weir Group Chief Executive Officer, Jon Stanton said:

"We are delighted to have secured this landmark contract, which is Weir's largest-ever individual mining order. Fortescue challenged us to help create one of the most energy and cost-efficient magnetite ore processing facilities in the world. 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."

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About The Weir Group PLC

As one of the world's leading engineering businesses we work in partnership with our customers to solve their toughest operating challenges safely, efficiently and sustainably. We provide original equipment and aftermarket services to mining, infrastructure and upstream oil and gas markets, supporting the essential resources needed by a growing world. 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).

About Fortescue Metals Group Limited

Fortescue Metals Group Ltd is a global leader in the iron ore industry, recognised for its culture, innovation and industry-leading development of world class infrastructure and mining assets in the Pilbara, Western Australia.

Since it was founded in 2003, Fortescue has discovered and developed major iron ore deposits and constructed some of the most significant mines in the world. It has grown to be one of the largest global iron ore producers and is focussed on its vision to be the safest, lowest cost, most profitable mining Company. Fortescue's head office is located in Perth, Western Australia. Fortescue Metals Group Limited is listed on the Australian Securities Exchange (ASX) ASX Code: FMG.