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Weir secures £40m Chilean tailings solution contracts
(Sharecast News) - Engineering firm Weir has been tapped by copper producer Codelco to supply its tailings transport solution for the Talabre tailings dam expansion project in the Atacama region of Chile. Weir said on Wednesday that the initial £40.0m sustainable tailings solution contracts would be booked in Q225.
In total, the FTSE 100-listed group noted that the contracts represent the single largest order for its GEHOâ pumps.
It expects revenue to be recognised over the course of Q425 and early FY26 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.
Chief executive Jon Stanton said: "We are delighted to have secured these significant contracts for our tailings management solutions, which include both our market-leading GEHOâ and WARMANâ ranges that provide energy-efficient tailings transportation at scale.
"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."
As of 0720 BST, Weir shares were flat at 2,488.0p.
Reporting by Iain Gilbert at Sharecast.com
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