Weir Group, the Glasgow-based global mining and engineering FTSE 100 firm, said it has been awarded a £53 million contract for the Reko Diq greenfield copper-gold project in Pakistan’s Balochistan Province.

The Reko Diq copper-gold project is a 50% owned greenfield development by Barrick Gold Corporation.

“The initial £53m contract award will be recognised in the order book in accordance with a phased call-off aligned with manufacturing lead times, with £26m recognised immediately and the remaining orders to be booked in Q4 2024 and Q1 2025,” said Weir. 

“After commissioning of the equipment, aftermarket support will be provided via an on-site purpose-built service centre staffed with Weir technical personnel.

“The receipt of orders associated with the contract award during 2024 does not result in a change to Weir’s full year 2024 financial guidance as of 30 July 2024.”

Weir has 12,000 employees operating in over 50 countries, with a presence in every major mining region of the world. 

Weir CEO Jon Stanton 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 CEO Mark Bristow said: “Barrick is pleased to be partnering with Weir in delivering sustainable mining and processing in the new mining frontier of Balochistan.

“The Reko Diq project will grow Barrick’s strategically significant copper and gold portfolios, benefiting all its Pakistan and Balochistan stakeholders.”