Weir Group wins £53m Pakistan copper mining tech contract from Barrick
Mining specialist Weir Group has won a £53m contract for the Reko Diq copper-gold project, a 50 per cent owned greenfield development by Barrick.
Located in Pakistan’s province of Balochistan, the copper project is targeting first production in 2028 with an estimated mine life of over 40 years.
During the first phase of the project, which will see Weir paid £26m, the company will provide fine grinding, separation and tailings solutions.
Among the equipment set to be provided are Weir’s large format high pressure grinding rolls (HPGR), which the company said are the highest capacity design in the market.
The remaining £27m in the contract will be booked in in the last quarter of this year and the first quarter of 2025.
After the equipment is delivered, support will be provided to Barrick through an on-site purpose-built service centre, which will be staffed with technical personnel from Weir.
The new order does not result in a change to Weir’s full year 2024 financial guidance provided last month, the company added.
Jon Stanton, chief exec of Weir, said: “We are delighted to have secured this significant contract which represents further industry acceptance of Weir’s differentiated sustainable and cost-effective redefined flowsheet solution, with our market leading HPGR technology particularly suited for the water-scarce climate and geology of the Reko Diq copper-gold project.
“Our engineers have designed an innovative solution that comprehensively addresses the particular challenges of this project and is a great example of working in close partnership with an ambitious customer who shares in our purpose to sustainably and efficiently deliver the natural resources essential to create a better future for our world.”
“Barrick is pleased to be partnering with Weir in delivering sustainable mining and processing in the new mining frontier of Balochistan,” added Mark Bristow, Barrick president and CEO.
“The Reko Diq project will grow Barrick’s strategically significant copper and gold portfolios, benefiting all its Pakistan and Balochistan stakeholders.”