StockMarketWire.com - Mining services provider Weir said it had won a £100m order to provide energy-saving solutions to the Iron Bridge magnetite project in Australia.

The $2.6bn project was a joint venture between Fortescue Metals and Formosa Steel, located 145 kilometres south of Port Hedland in the Pilbara region of Western Australia state.

The order would reduce energy consumption and wet tailings waste by more than 30% compared to traditional mining technologies.

Delivery of first ore from the project was expected in 2022.

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