Metso - Pioneer in aggregate processing

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1831

Metso is investing in a new rubber production factory in Quzhou, Zhejiang province, China, to meet growing demand and improve service for customers in the market area.

The new factory will manufacture rubber and Poly-Met mill linings as well as Trellex® screening media, which are designed to improve performance and reliability. Thanks to this investment, Metso will be able to offer a wider range of high-quality and reliable wear parts to its customers in China.

The factory project supports Metso’s strategic goal of strengthening its regional presence in key customer markets.

By expanding its production capacity in China, Metso demonstrates a strong commitment to its mining and aggregates customers and enhances its service level by utilizing local production and supply chains. The new factory will enable shorter delivery times and a broader range of services.

Production of screening media will begin at the new factory in the first quarter of 2026. The manufacturing of mill linings will start toward the end of the first half of the year, utilizing modern technology. This enables production efficiency and high quality, as well as the manufacturing of more demanding rubber and composite components.

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1832

Metso has received a significant order for the engineering of a new copper smelter and the supply of key process equipment to Asia. The contract, valued at over EUR 180 million, has been booked in the Minerals segment’s fourth-quarter 2025 orders received. The agreement includes an option to expand the scope of the delivery.

The planned production capacity of the copper smelter is 300,000 tonnes of copper cathode and 1.1 million tonnes of sulfuric acid per year.

The new copper smelting line is based on Metso’s licensed and established Flash Smelting, PS Converting, and Lurec® technologies. The delivery includes the engineering and supply of key process equipment for the smelter, electrolysis, gas cleaning, sulfuric acid plant, and precious metals refinery. The delivery also includes support services related to the commissioning of the plant as well as spare parts.

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1833

There has been a lot of talk about copper in the commodity thread lately, and here was a timely piece in SalkunRakentaja about Metso and copper. :slight_smile:

AI data centers and swelling national defense budgets are pushing copper demand ever higher, while mine supply lags behind and permitting processes slow down new investments.​

Copper is becoming the key metal for the entire electrifying economy.

At the same time, it is rapidly becoming one of the most strategic raw materials of the next decade, as the energy transition, AI, and rearmament hit the economy simultaneously.​

Subheadings:

  1. Copper demand is growing
  2. Metso benefits from the growth in copper demand
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1834

Here are Aapeli’s comments on the large copper smelter order received by Metso :slight_smile:

Metso announced on Friday that it has received a large copper smelter order from Asia, worth over EUR 180 million. The company will record the order in the Minerals segment’s Q4’25 order intake. With this order, the value of orders announced by Metso for Q4 is, in our estimate, at a higher level than last year, which provides a good basis for order growth in the final quarter of 2025.

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1835

Metso has sold a record number of vertical mills in 2025 as mining industry customers shift toward increasingly energy-efficient grinding solutions. In concentrator processes, growth is visible in the demand for optimized technology combinations and multi-stage grinding, as they enable improvements in energy efficiency, reductions in carbon dioxide emissions, enhanced productivity, and lower operating costs. In grinding, these goals can be achieved by utilizing Metso’s Vertimill® and HIGmill™ vertical mills, as well as the HPGR (High Pressure Grinding Roll) technology. Total capacity and recovery can also be increased by combining grinding mills with Concorde Cell™ flotation technology.

Metso’s energy-efficient vertical mills reduce emissions

In 2025, Metso sold more than 20 Vertimill vertical mills with a record combined installed power of 67 MW. These mills save up to 35% more energy compared to traditional ball mills, resulting in savings of 36,550 kilowatts. Consequently, approximately 135,000 tonnes of carbon dioxide emissions are avoided annually, based on an operating time of 8,500 hours per year. To illustrate, this emission reduction corresponds to the annual carbon footprint of approximately 20,200 Finns (6.7 tonnes of CO2 per person).

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1836

Gruvaktiebolaget Viscaria has ordered two grinding mills from Metso for its reopened copper mine in Kiruna, northern Sweden. With an annual production of 26,000 tons of copper concentrate, Viscaria aims to become Sweden’s second-largest copper producer and play a significant role in the European market. The value of the order is approximately EUR 16 million, and it will be recorded in the Minerals business area’s orders for the first quarter of 2026.

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1837

Metso is strengthening its position as a leading partner for mining and aggregates customers by continuing the growth of its Life Cycle Services (LCS) agreements. In 2025, Metso signed more than 100 new Life Cycle Services agreements with global and regional mining companies, as well as large quarries and aggregates contractors. The company’s Life Cycle Services aim to further strengthen collaboration with customers, leveraging digital solutions and sustainability principles to support customers in optimizing uptime, productivity, and operational safety.

With more than 600 active Life Cycle Services agreements, Metso’s comprehensive service portfolio and expert network help customers achieve their business goals and promote environmental responsibility.

The average duration of a Life Cycle Services agreement is three years, but it can range from 12 months to several years of collaboration. Orders are booked in phases depending on the length and type of the agreement. The total value of the agreements received during the past year will not be disclosed. More than two-thirds of the new orders were booked in the Minerals segment and the rest in the Aggregates segment.

New Life Cycle Services model strengthens customer collaboration

In October 2025, Metso launched a new, innovative Life Cycle Services model aimed at driving the transition toward outcome-based contracts and performance-based business models. The model is based on three clearly defined partnership levels, covering service packages ranging from basic component deliveries to comprehensive process-level solutions.

The latest solutions launched for mining customers include Crushing as a Service and Pumps Availability, which help customers reduce capital expenditure, improve reliability, and achieve predictable performance. These new service packages reinforce Metso’s commitment to proactive, sustainable solutions that support the maximization of customer uptime and operations. The offering is continuously expanding with new solutions.

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1838

Mining company Maaden has ordered a gold processing and leaching process from Metso for its Ar Rjum mine, located approximately 200 km northeast of Ta’if in Saudi Arabia. The order value is 128 million euros, of which 24 million has been booked in the Minerals segment’s third-quarter 2025 orders received and 104 million in the final quarter of 2025. The delivery also includes advisory services for equipment installation, commissioning, and start-up, which will be provided under a separate service contract to be booked later.

Metso’s delivery includes a comprehensive gold production plant from ore to doré bars: a crushing station with conveyor systems, a grinding circuit including SAG and ball mills with auxiliary equipment, pre-leaching and CIL (carbon-in-leach) leaching, as well as tailings thickeners, a gravity separation circuit, an elution plant, and gold room technologies. In addition, Metso will provide the process electrification, instrumentation, and automation, as well as the process design for the processing plant.

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1839

Here are Aapeli’s comments on the recent major orders received by Metso. :slight_smile:

Metso announced on Thursday that it has received a significant order, worth 128 MEUR, for the delivery of a gold production plant to Saudi Arabia. The majority of the order will be recorded in the order intake for the fourth quarter of 2025. This is already the second major order announcement for Metso within a week, which further strengthens the company’s Q4 order intake.

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1840

Metso will deliver advanced flotation technology for the expansion project of Barrick’s Lumwana concentrator in Zambia. Concorde CellTM flotation cells form an efficient combination with the TankCell® technology previously selected for the project.

The Concorde Cell is Metso’s advanced solution for processing challenging ore deposits. The combination of it and TankCell technologies offers a reliable and efficient solution for optimizing the flotation process. The high-intensity pneumatic Concorde Cell flotation cell has been developed to enhance the flotation process and improve the recovery of fine and ultra-fine particles.

In 2024, Metso announced a major equipment order related to the Lumwana copper project. The additional order for Concorde Cell equipment has been booked in the Minerals segment’s third-quarter 2025 order intake.

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1841

Metso received a massive order of over 180 million from Asia, as reported a couple of weeks ago, and other positive “copper news” has been heard from the company in recent months. That’s great, but is the copper boom just getting started—meaning things will get even better in the future?

There have been reports of supply issues—apparently, there aren’t enough copper discoveries, and any existing copper projects are still in the early stages and far from certain. Plus, in any case, it takes time to develop mines.

S&P Global estimates that copper demand will grow by as much as 50% by 2040. @Jukka7 mentioned in the commodities thread that Trump’s tariffs could also impact copper prices, as Americans are hoarding copper for that reason as well.

The much-discussed data centers require massive amounts of copper, and of course, the defense sector and various energy initiatives do too… Prices are also driven up by various regulations, ESG factors, and general opposition to mining projects, which are slow-moving anyway.

So… the green transition and renewable alternatives in general require a lot of copper; if said transition is viewed as a long-term trend, copper is in a good spot.

We shouldn’t forget electric vehicles—EV adoption fluctuates, but their market share only continues to grow.

Copper is already facing supply issues; it’s in high demand now and will be even more so in the future. For Metso, copper business is a big deal, and it’s tied to these long-term trends…

Is Metso set for a nice stock price rally thanks to copper? After all, the company also has other growth drivers (perhaps), plus it has more stable and profitable aftermarket business as its foundation, so isn’t Metso starting to look like a pretty sweet investment?

Am I oversimplifying things too much, or is Metso well-positioned for the copper rally? On the other hand, if copper isn’t being produced in massive quantities relative to demand, then Metso can’t make much money either, because the products Metso offers aren’t needed if there isn’t enough copper—so does that end my copper bull case for Metso :frowning: , or what do you think?

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OROCO - Kuparia Mexicosta
1842

This is indeed an interesting point. I completely agree that the supply side of copper is becoming increasingly challenging in various ways, which I believe will support demand for Metso’s products and services in the long run.

I have understood that copper mining is becoming more difficult as the quality of copper deposits declines, which a player like Metso naturally benefits from structurally. In practice, this means that to produce the same amount of copper, more rock must be processed and more complex processes must be managed than before, requiring even more efficient crushing, grinding, and concentration solutions, and of course, optimization of the entire process. This is exactly what Metso offers with all its services.

Another thing that is personally more interesting to me is the circular economy perspective of copper. The more valuable copper becomes, the more profitable its recycling becomes as well, and this is further accelerated by the continuous development of circular economy infrastructure and supporting regulation, which has not taken any steps back. What is interesting from Metso’s perspective is that its technologies are also suitable for copper recycling, not just traditional mining. For instance, they have solutions under the name e-scrap for processing electrical and electronic waste, and hydrometallurgical processes for copper recovery.

Another interesting angle is that Metso’s technologies allow for the integration of recycled copper into the primary copper process. In other words, this source of recycled copper (e.g., some scrap fraction or similar) can, as I understand it, be run through the same process as mined copper, which supports the transition toward metal production that truly relies on a circular economy.

I am personally on board with Metso because the company is well-positioned for a world where copper is increasingly needed, but producing it requires smarter technology than before—regardless of whether the copper comes from the ground or if raw materials already in use are being utilized.

I am not a deep expert in this field, but if I may make a wish, perhaps someone could ask Metso about this in more detail and map out what kind of competitive advantages or exploitable patents they might have in this area? In other words, to understand a bit better what Metso’s role and competitive lead are in a world turning toward a circular economy. I am under the impression that there would be plenty of these, especially within the former Outotec’s technology portfolio.

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Inderesin kahvihuone (Osa 11)
1843

Hi everyone in the thread!

An update on the copper matters:

I sent questions to Metso specifically regarding the points and reflections raised by Timo.

But I also asked Timo for help with the questions via private message, but I also included some of my “own questions,” meaning Metso received both high-quality questions and “rookie” questions. Metso promised to get back to the questions after February 20, 2026.

Thanks once again to Timo :folded_hands:

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1844

Metso has acquired Australian MRA Automation (Multiskilled Resources Australia Pty Ltd), which provides engineering and software services as well as automation solutions for bulk material handling needs. The privately owned company is a global leader in providing automation technology and digital solutions for ports and terminals, and its office is located in Newcastle, on the east coast of Australia.

The parties have agreed not to disclose the purchase price. The acquisition has no material impact on Metso’s financial results.

The acquisition enables integrated and comprehensive solutions for bulk material handling for customers. These advanced technologies improve efficiency, safety, and operational flow at all stages of the process.

About MRA Automation

MRA Automation is an Australian company with approximately 60 employees, focusing on providing advanced industrial automation solutions for bulk material handling and port operations through its team of experts. The company combines its own smart automation services with Axo33 Smart Software products.

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1845

Here is Aapeli’s company preview report, as Metso releases its Q4 results on Thursday. :slight_smile:

We have raised our forecasts for Minerals for the coming years, reflecting recent order announcements, and we estimate that the positive momentum will continue, driven by the current strong state of the metals market. We also expect this to support the company’s longer-term growth and margin potential through the growth of the service business. With the strong earnings growth outlook for the coming years, we are ready to place more weight on the longer-term potential in our assessment; reflecting this, we are raising our target price to EUR 16.0 (prev. EUR 12.5). However, given the sharp rise in the share price and valuation, we see the expected return for the coming years relying on a dividend yield that has fallen to a rather low level, which is why we reiterate our Reduce recommendation.

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1846

A good and pretty much expected result. Good to continue from here :slight_smile:

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1847

Aapeli has written a company report on Metso following Q4. :slight_smile:

Metso’s Q4 result was in line with both our and consensus expectations. The result was supported by revenue development that exceeded forecasts, while the margin relative to expectations was weighed down by a rather equipment-heavy sales mix. In contrast, the company’s order intake fell short of our high expectations. The company made no changes to its outlook, and we believe the demand situation can be expected to remain good. Based on the report, we made only minor revisions to our forecasts. Consequently, we see the return expectation for the coming years still relying too heavily on a moderate dividend yield. Thus, we reiterate our Reduce recommendation for the share and our target price of 16 euros.

Quoted from the report:

..In our assessment, the most significant drivers in Minerals continue to be gold and copper projects in particular. Development has also been positive in Aggregates regarding equipment orders, driven especially by the normalization of the situation in North America and a pick-up in European demand, although demand on the services side is still more moderate.

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1848

Metso will supply several Vertimill® 4500 grinding mills for a direct reduction (DR) grade iron ore production plant. The value of the order is over EUR 10 million, and it has been booked in the Minerals segment’s first-quarter 2026 orders received.

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1849

Metso and Loesche GmbH have entered into a partnership agreement to bring the revolutionary Metso Loesche VRM dry grinding technology for minerals processing to the market. The partnership combines Metso’s expertise in comprehensive and sustainable minerals processing and service solutions with Loesche’s Vertical Roller Mill technology. This innovative technology, based on a new type of process, improves the efficiency of minerals processing.

Detailed information about Metso Loesche VRM dry grinding technology

Metso Loesche VRM dry grinding technology is part of the Metso Plus product portfolio. At its best, it can replace and simplify traditional primary and secondary grinding. VRM technology is also suitable for the particle size range required in tertiary grinding. Dry grinding simplifies the comminution circuit and brings savings in energy consumption and operating costs. The technology can also be combined with coarse particle flotation or magnetic separation, which reduces or even eliminates water consumption entirely, if a completely dry process is feasible at the site.

The wear parts for the Metso Loesche VRM are manufactured from advanced materials that resist wear and ensure high availability. Integrated process control ensures optimal operation with easy start-up and shut-down functions and a fast transition to production.

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1850

Metso is launching a revamped portfolio of digital services for its aggregates customers, bringing together digital solutions into one integrated whole. The new offering improves machine uptime, boosts production performance, and eases the daily work of both customers and distributors.

The unified digital portfolio is designed to solve customers’ operational challenges and consists of three components: AI-powered Predictive Maintenance, Production Performance, and the MyMetso service. Together, they enable real-time data to support decision-making, remote machine monitoring, and data-driven recommendations that support safer, more resource-efficient, and more productive aggregates operations.

AI-powered predictive maintenance reduces unplanned downtime

The new AI-powered predictive maintenance service helps customers avoid unplanned downtime by identifying early signs of equipment failure before they cause disruptions.

Key benefits:

  • Higher uptime: Early detection of anomalies and prevention of unexpected stops.

  • Avoiding major failures: Reducing the risk of long periods of downtime.

  • Right parts available at the right time: Advance information on the parts that will be needed.

  • Predictive maintenance: Moving from reactive to planned maintenance actions.

The service analyzes real-time data from the machines and combines it with Metso’s strong equipment expertise and aggregates knowledge, providing reliable recommendations directly through the MyMetso service. Predictive recommendations are immediately available for all new machines connected to the Metso Metrics service. Retrofit kits are available for connecting older machines.

Production performance enhancement increases output and improves visibility into the production process

Metso’s new subscription-based production performance service optimizes production volumes and improves the machine operator’s visibility into the crushing process at all its stages. Production performance services aimed at contractors are part of the Metso Plus offering.

Key benefits:

  • Higher production volume: Adaptive Feed Control (AFC) minimizes idling and keeps crushers at an optimal load in multi-unit mobile crushing processes.

  • Improved visibility for the machine operator: Load and level data for the entire plant can be seen directly in the cabin of the excavator or wheel loader.

  • Lower safety risks: Remote management, wireless interlocks, and camera views.

  • Lower fuel consumption and CO2 emissions per ton: Lower idling and more stable operation reduce energy consumption.

According to field measurement results, adaptive feed control improves productivity by up to 5–15% depending on the application. Metso’s patented control software continuously optimizes the process throughout the entire crushing chain.

MyMetso service enables easy and flexible business interactions

The MyMetso service provides Metso’s aggregates distributors and customers with a centralized view of digital services, equipment data, and support services. The service’s functionalities are tailored according to user roles, so users see the information relevant to their daily work.

Key features:

  • Everything in one place: Part information, machine data, maintenance recommendations, fleet tracking, and support tools.

  • Right parts faster: Metso’s own equipment documentation guarantees accuracy.

  • Available 24/7 on any device.

  • Faster troubleshooting: Direct access to machine data and maintenance instructions.

The MyMetso service improves the smoothness of business interactions and supports the growth of customer and distributor businesses through improved visibility, faster quoting, and proactive customer support.

Metso will supply crushing and grinding equipment for Artemis Gold’s Blackwater gold mine expansion project in British Columbia, Canada. The value of the orders is over 39 million euros. Of this, approximately 16 million euros has been booked in the Minerals segment’s orders received for the second half of 2025, and approximately 23 million euros will be booked in the first quarter of 2026.

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