The Weir Group PLC and Olayan Saudi Holding Firm have agreed to type a brand new three way partnership to offer mining know-how options in Saudi Arabia, seeking to leverage a partnership that began within the Kingdom virtually 20 years and was targeted on the oil & fuel business.
This new partnership was formally unveiled through the Future Minerals Discussion board in Riyadh on January 16, marking, the businesses say, a major milestone within the longstanding relationship between them.
Weir’s present Saudi Arabia mining publicity is “modest”, CEO Jon Stanton advised IM throughout an interview on the occasion, entailing largely mining pump purposes. He mentioned the brand new JV with Olayan would set the corporate as much as make the most of main mining progress prospects within the Kingdom, underwritten by the Imaginative and prescient 2030 initiative.
“We have to carry the entire flowsheet, in addition to the ESCO providing, to Saudi Arabia in a extra significant manner,” he mentioned.
The sustainability focus of Weir, plus its dedication to be near its mine web site clients, made the right recipe to determine a agency foothold within the Kingdom, based on Salih Merghani, Government Vice President for Vitality Providers at Olayan.
“We wish to sustainably drive the mining growth within the nation side-by-side with Weir,” he mentioned.
The present plan for the JV will see Weir take the lead on gross sales, technical and product duties, whereas Olayan focuses on new enterprise improvement, capitalising on its sturdy presence and information of the regional market.
Stanton added: “Olayan are a trusted companion that can assist us develop native relationships.”
Meghani mentioned the JV was about greater than making gross sales to a brand new crop of greenfield tasks bobbing up in one of many main mining and exploration progress nations.
“We want to carry greater than the tools to Saudi; we wish to create extra native worth that the economic system will profit from,” he mentioned.
Stanton defined that, within the interim, that native content material might entail Weir mobilising tools meeting, in addition to service work, to Saudi Arabia for tasks within the Kingdom. He hoped the corporate might retain its international ambition of getting a facility inside 200 km of any main mine it companies because the Kingdom’s mining prospects grew too.
Stanton anticipated the corporate’s current case research for dry processing tools, on prime of a rising crop of energy-efficient mine deployments, to face the corporate in good stead for future venture tenders.
“As is all the time the case wherever we go throughout the globe, we have now nice know-how to supply that’s related for the native circumstances,” he mentioned. “This, plus our service providing and the assist of Olayan, places us in pole place in Saudi Arabia’s rising mining sector.”
Pictured above is the signing ceremony at FMF 2025. From left to proper: Salih Merghani, Government Vice President for Vitality Providers, Olayan Group Saudi Holding Firm; Ahmad Fakih, Deputy Minister of Authorized Affairs and Laws; Uwaidh Al Harethi, CEO, Olayan Group Saudi Holding Firm; Jon Stanton, CEO, Weir Group; Turki Al Babtain, Deputy Minister of Mining Growth, Ministry of Business and Mineral Assets, Saudia Arabia.
