London, June 17, 2026, 11:05 BST
- Weir is up after winning a “significant” order for GEHO pumps related to Lloyds Metals’ Surjagarh iron-ore project in India.
- Shares traded at about 2,490p in London this morning, up roughly 2.2%.
- The value of the order wasn’t disclosed. Investors are still looking for signs that mining project demand is actually leading to revenue.
Weir Group PLC shares were higher in London on Wednesday. The engineering company, based in Glasgow, said it secured a “significant” order from Lloyds Metals and Energy for GEHO positive-displacement pumps. The pumps are for an iron-ore slurry pipeline project in India. MarketScreener
The shares last traded at 2,490 pence, up 54 pence or 2.2%, according to AJ Bell. Trading ranged from 2,438p to 2,502p during the session. Even with the move, the stock is still far from the 52-week high of 3,580p, so today’s rise is more of a bounce than a reset for the story.
Timing is key here. Weir has argued mining equipment orders are being postponed, not lost, and the Lloyds contract offers investors another live deal pushing forward.
Weir booked an order in the first quarter to supply 14 GEHO TZPM 2000 pumps, each with its GLORES load-reduction system. The equipment is set for the second stage of Lloyds Metals’ Surjagarh slurry pipeline in Maharashtra. That pipeline, about 200 kilometres, will give another 16 million tonnes of annual capacity. Weir also supplied pumps for the first, 100-km section, which is already running.
Weir Group’s positive-displacement pumps are headed for Lloyds Metals’ slurry pipeline in a deal announced this week. These pumps move fixed amounts per stroke, built for the pressure and distance in ore pipelines. Tony Hendriks, global product manager for GEHO at Weir, said the order signaled “the strength of our technology.” Lloyds Metals said it had “full confidence” in GEHO. The companies did not give price or terms. London South East
Weir’s shares are still reacting to the April trading update. The group said Q1 orders were up 4% and kept its 2026 constant-currency targets for higher revenue and operating profit. Minerals original-equipment orders dropped 3% on timing, but ESCO original-equipment orders surged 49%.
UK stocks didn’t face heavy selling. Inflation in the UK stayed flat at 2.8% in May, coming in lower than expected. That’s ahead of the Bank of England’s rate call. Some of the pressure eased on sectors sensitive to rates, but Weir’s action came off contract news instead.
Peer sentiment has improved a bit. BofA Global Research said this month it is getting more upbeat on European mining equipment, pointing to big copper projects. The broker upgraded Epiroc and FLSmidth, and kept its buy on Weir. BofA called Weir “an attractive buying opportunity” citing margins and aftermarket exposure. Stockopedia
Leadership remains in focus. Jon Stanton will leave his post as Weir chief executive on Aug. 1 and Andrew Neilson, who leads the Minerals unit, will succeed him. J.P. Morgan called Neilson the “obvious choice,” but said the announcement could still drag on shares given the first-quarter results. Reuters
Lloyds’ order hands Weir a clear win, but it doesn’t settle the main risk. Miners could still cut back on capex, India could miss on project delivery, or profit could take a hit from forex swings, tariffs, or integration costs. The recovery at Weir depends on how these play out. Still, shareholders now have a specific customer, a backlog, and proof that mining projects are turning into real demand for equipment.
