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Metso secured more than 110 new life cycle services (LCS) contracts during 2023, which helped make up a portfolio of more than 500 long-term LCS agreements on a global scale.

These agreements were made with global mining companies, regional mining companies to Finland (where Metso is headquartered), quarries and aggregate contractors.

More than two thirds of the 2023 orders were booked as part of the minerals segment of the portfolio, and the remaining orders were booked under the aggregates division.

Metso said the average duration of a LCS contract is three years but can range from 12 months to multiple years.

“We secured more than 110 new LCS agreements worldwide,” Metso senior vice president of integrated service solutions Miika Tirkkonen said.

“Our concentration is always focused on how we can help customers achieve their sustainability and productivity goals and exceed their performance. This growth celebrates our customer success, as we always work to best ensure customer satisfaction.”

Metso has been a trusted supplier of LCS for over 15 years. Its LCS jobs involve taking its aftermarket portfolio and bundling them into customisable and easily manageable packages. These packages include spares and wears to advanced maintenance, remote monitoring, and other expert services.

Earlier this week, Metso locked in supply deals for two copper mines in Kazakhstan and Mongolia in Central Asia, and is set to supply key crushing equipment to blocks 1 and 2 of the Simandou iron ore mine in Guinea.

Simandou is considered the world’s largest untapped high-grade iron ore deposit.