Welcome everyone, and thank you for joining us at the second of our two capital market spotlight events in 2022. Our virtual webinar today is focusing on sustainability and technology. This follows on from our event in September on growth and our performance excellence transformation program. Before we turn to today's agenda, I want to outline the overall positioning of Weir as a focus mining technology leader. Our recently completed portfolio transformation means we're focused on mining and able to prioritize our resources on pursuing the long-term sustainable growth opportunity this presents. I believe this is compelling because first, mining has a critical role in decarbonization with the world needing significantly more metals such as copper, nickel, and lithium to deliver the transition to net zero.
Second, 75% of our revenues come from aftermarket, driven by all production trends, which is inelastic to mining CapEx and commodity price fluctuations, meaning we're highly resilient. Third, by focusing our resources and thought leadership, we're expanding our addressable markets through organic growth initiatives, and we'll play a leading role in mining's technology transition. We will pursue this growth opportunity by continuing to invest in our unique capabilities and by maintaining high barriers to entry. We solve our customers' biggest challenges through our world-class engineering expertise, increasingly complemented by data and artificial intelligence. Across the globe, we are embedded in our customers' operations and supply chains with strong local relationships and strategic corporate partnerships. We have a large captive installed base of trusted mission-critical equipment, a key driver of future aftermarket revenues.
With a focused world-class business and clear growth opportunities, we are well-placed to deliver, and our commitments to our stakeholders are simple and clear. We will grow faster than our markets, delivering compounding growth in mid to high single digits through the cycle. We will deliver operating margin expansion through operational leverage and our new performance excellence program, which in time will take us beyond our 2023 target of 17%. We will cleanly convert our earnings growth into cash and returns and deploy it in line with our capital allocation policy. We will remain highly resilient, as demonstrated by the 7% CAGR in our Minerals aftermarket since 2011, and we will deliver all of the above in the right way, eliminating harm in our operations and communities, and with clear commitments to emission reductions in our end-to-end value chain.
These commitments will be delivered through our We Are Weir strategic framework, focusing on people, customers, technology, and performance. Our framework delivers several strategic levers to enable growth ahead of our market. These include our growth and performance excellence initiatives, which we outlined in September. We have our sustainability and technology roadmaps, which further underpin our growth ambitions, which is what we're focusing on today. On to the agenda. First, I'm going to talk you through Weir's overarching sustainability strategy. Paula Cousins, our Chief Strategy and Sustainability Officer, will then explain how our technology strategy is addressing increasing customer demand for more sustainable solutions. Our Divisional Vice Presidents of Technology, Chris Carpenter and John McNulty, will spotlight specific technology examples. It'll then be back to me for some closing remarks before we open the floor for Q&A. Sustainability is core to Weir.
It is central to our purpose and strategy, driving the growth plans in our business, dictating how we operate, and providing the framework for everything we do. The world needs metals. They are essential to everyday life, and demand is set to increase as the world strives for net zero. While recycling will play a role, meeting this demand will require more metals to be extracted from the earth. However, to enable this and for the mining industry to have the environmental and social license to operate, it needs to become smart, efficient, and sustainable. Our purpose as a business is clear. We will be a leader in enabling this journey for our customers and our world, which will drive great outcomes for all our stakeholders.
Electric vehicles need 4x as much copper as traditional petrol cars, while solar and wind- generated power needs more than double the amount of copper versus conventional sources. The requirement for more metals is not in question. With planned copper production insufficient to meet demand, miners are pursuing growth, accelerating production from existing assets, and pursuing new expansion projects, both of which represent attractive opportunities for Weir. Indeed, if the world is to achieve the outcomes of the 2015 Paris Agreement, it's estimated that almost 10 million tons of new copper supply will be needed over the next decade from projects that are yet to be sanctioned. That's equivalent to around 1/3 of current consumption. To achieve this, the industry needs to deliver new projects at a frequency never previously accomplished and spend $23 billion every single year.
To achieve this, the industry needs to deliver new projects at a frequency never previously accomplished and spend $23 billion every single year, which is 64% higher than the average annual spend over the last 30 years. However, while demand drivers are clear and the miners have intent, concerns around the social and environmental impact of mining, together with local, political, and fiscal tensions, are creating complexities in permitting and making new projects slow to convert. To unlock the supply needed to achieve net zero, the mining industry must adopt more sustainable operations and engage its stakeholders in this shift. Mining has a broad and diverse group of stakeholders, including customers, employees, communities, and the governments of the regions in which it operates. In pursuit of sustainability, it is recognizing the need to focus on the environmental and social impact on these stakeholders.
This is evidenced in a recent KPMG survey of mining executives, where environmental impact is now recognized as the number one risk facing the industry, closely followed by the need for improved community engagement and relations. Reduced energy consumption, use of renewable power sources, efficient use of water, and less waste are prerequisites. To be sustainable, mining needs to reposition itself to attract new talent and overcome skepticism regarding its role in delivering net zero. While the industry's prize is significant, lots needs to change for it to maintain the social and environmental license to operate. This is where suppliers like Weir have a key role to play, providing the technology and expertise needed to reduce the industry's footprint and helping to improve its reputation. Alongside helping our customers, we're also playing our part, and I'll now outline how we're making Weir more sustainable.
To drive growth and value from sustainability, we launched our sustainability roadmap in late 2019. It's a framework that's linked to our purpose and provides a focus and common language for the organization, underpinned by strong governance and an aligned reward framework. It was created with input from key stakeholders, including our customers, suppliers, and employees. It focuses on the four key areas where we can have the most material impact covering people and the environment. That starts with our own organization. We want to be a zero harm business with a highly engaged workforce. Our operations must be sustainable, and we have set ourselves ambitious emissions reduction targets, which are currently being validated by SBTi. However, the biggest impact we can make comes from creating sustainable solutions to reduce the environmental impact of our customers' operations.
I'll now talk you through each of the elements of the roadmap in more detail. The safety of our 11,000 employees is the number one priority for me and for the whole group. I want Weir to be a Zero Harm organization where everyone goes home safely to their families every day. We're making great progress with Minerals having one of the best safety records in our industry, and ESCO having made significant improvements since acquisition. There's still more to do, so we're complementing our existing management systems, training, and governance with a new Zero Harm behaviors program. This focuses on how we behave when we deliver safe outcomes and what happens when accidents happen, with the aim that if every colleague has. Over 40% are female, and we're working hard to replicate this at other levels.
It all translates into a compelling value proposition to attract the best talent to come and work for us and stay long-term because they love what they're doing and the people they work with. This all contributes to our sustainability as an organization. While we have more work to do to meet our ambitions, we're making really positive progress. That's clearly demonstrated through our regular all-employee surveys, where we get 90% participation and which put our employee net promoter score, a measure of employee engagement, in the top 10% of companies in our industry. Our culture is very special and is a huge asset to Weir. It's hard to capture on slide, so here's a short video in which our Chief People Officer, Rosemary McGinness, brings this to life.
Thank you. Hi, everyone. I'm delighted to be joining you to talk more about safety and culture. As you've heard from Jon, we are making great progress on our journey towards Zero Harm, and our employee engagement is among the best in the industry. I'd like to share a little more on how we're achieving this. Thinking safety first is a core value for us. We put a great deal of emphasis on embedding a zero harm culture where people can talk openly about safety concerns and are empowered to make improvements. There's great examples of this in action at our manufacturing site at Todmorden in the U.K. The site already had a good system of regular safety talks and training, but wanted to add an easy-to-use system to drive further improvements right where they are needed.
They introduced a digital system so anyone on site, including visitors, could submit improvement opportunities or call out hazards in real time. As a result, almost 2,000 safety conversations have been recorded this year. The products we make on-site are heavy, and so lifting and handling them is a risk. We are trialing new lifting tools in the machine shop and have introduced special exoskeleton suits and gloves that provide physical support to reduce the risk of strain or injury. As well as being a safe place to work, we want Weir to be the place where people can do the best work of their lives, achieving personally and for the company. That means providing opportunities for them to develop their skills and career. Digital skills are a particular focus for us, especially for our employees who don't access computers as part of their work.
Here we've created a brilliant program called Weir Connected. This means our 230 production staff at Todmorden can now access our online HR system for information and learning, and we've also been able to introduce digital scorecards and manufacturing systems throughout our operations. We're now extending Weir Connected to other parts of the world. For people to do the best work of their lives at Weir, they must feel that they can be themselves and feel like they belong. Our inclusion, diversity, and equity strategy is helping us address that. Our employee-led affinity groups for women and our LGBTQ + community and their allies are doing an amazing job driving change. We run apprenticeship programs that are bringing in the next generation of diverse talent, and we support a number of flagship programs for female engineers.
Shifting our gender balance is not proving easy, but we are determined to overcome the challenge. I describe the culture at Weir as a big global family, and that includes our communities as well. Community involvement happens locally and here in Todmorden we border the beautiful Rochdale Canal. Our staff give their time so that the area is well kept and safe for the community to use. Right across Weir, there are truly inspiring examples of community programs and individual volunteering. I'm really proud of what our people have achieved on safety and culture since the launch of our sustainability roadmap, and I'm excited by what's still to come. People are what make Weir special, and it's through them that we'll deliver on our purpose and our strategic ambitions. Thank you.
Now turning to our environmental footprint. While small overall, the most energy we use is in our manufacturing operations and in particular our 11 foundries where we use electricity to melt metal as part of the casting process. Fall overall, the most energy we use is in our manufacturing operations, and in particular, our 11 foundries, where we use electricity to melt metal as part of the casting process. To address our footprint, we've set ambitious targets currently being validated by SBTi to deliver a 30% absolute reduction in our Scope 1 and 2 emissions by 2030. By updating our target earlier this year to an absolute reduction target rather than a target relative to sales, we have committed to achieving this while also delivering our growth ambitions.
With a 15% absolute reduction over the last two years, we are making good progress driven by hundreds of projects across the Group, such as switching to renewables energy supply from local grids, smart metering to drive more efficient consumption, building solar generation capability across appropriate facilities, and just a huge general awareness about switching things off when they're not in use. Beyond CO₂ emissions, we're also trialing a number of initiatives across the Group to reduce water consumption and waste. I've mentioned already our people and culture. I also want to emphasize how important both are in driving sustainability. By way of example, let me introduce my colleague in Santiago, who will share with you how the Chile team are contributing to our goals.
Hello, everyone. It is my pleasure to join you today to tell you how we are making our facility here in Santiago more sustainable. We are located in the community of San Bernardo in the south of Santiago in Chile, and we are a team of 1,250 employees. We have a foundry, machining operations, rubber processing, and offices, and we manufacture a wide range of solutions. We have always worked with concern for safety, the environment, and our community. Since the launch of the sustainability roadmap in 2019, we have boosted our efforts and commitment. Back in 2020, over 50% of our CO₂ emissions across the site came from electricity. We knew that focusing on that will have the biggest impact on reducing our footprint.
The most power-hungry part of the site are our manufacturing operations where we made our first switch to certified green electricity in January 2021. The impact on our carbon footprint is fantastic. We are reducing it by almost 60%, eliminating over 7,500 tons of CO₂ equivalent per year. It is the same as taking over 1,600 cars off the road. We did not stop there, and we have recently installed an array of 140 solar panels on the roof of our facilities, which will reduce our overall footprint even further. We are continuously improving our energy use. In April 2022, we received our ISO 16001 energy management certification to help drive that. We are the first Weir site to achieve this international certification. Sustainability is embedded in our culture.
Through our waste segregation projects, we are now recycling over 50% of our waste on site. We have circular economy initiative with our customers too. For example, we melt and reuse the worn parts from their equipment in our foundry. The waste sand from our casting process is used to fabricate tiles. We are very proud and motivated of our achievements. Our contribution helps to us and our customer to have a more sustainable operations. Thank you very much. Let's continue making Weir a more sustainable company.
I'll shortly pass you over to Paula to introduce the creating sustainable solutions part of the roadmap, which switches the focus to our customers and our technology strategy. However, before I do, I wanted to summarize the key messages from this part of the presentation. Firstly, sustainability is core to our purpose. It's a growth driver for our business, influences how we operate, and underpins everything we do. Secondly, sustainability is a critical issue for mining. The metals it extracts are essential for the transition to net zero. However, to have the environmental and social license to operate, mining needs to reduce its footprint. Technology from suppliers like Weir is critical to achieving this ambition, and our sustainability roadmap creates value for all our stakeholders.
We'll deliver this value by continuing to prioritize the safety and well-being of our employees, investing in a culture for success, and delivering significant reductions in our own footprint. While our sustainable solutions, which Paula is about to talk you through, deliver for our customers and the planet. Thank you. Now over to Paula.
Thanks, Jon. Hello, everybody. Today, I'm going to talk to you about the fourth element of our sustainability roadmap, creating sustainable solutions, and how it's underpinned by our technology strategy. This part of the sustainability roadmap is of particular strategic importance to Weir, because 97% of our total emission footprint comes from our products in use. These are our Scope 3 CO₂ emissions and are also our customers' Scope 1 and 2 emissions. We have a compelling shared goal to reduce that footprint. Unlike consumer goods companies whose Scope 3 footprint tends to be weighted towards their upstream purchase goods and services, ours is heavily weighted downstream in our customer sites. That's because our products are used in the most energy-intensive parts of the mine, the load-haul cycle and in combination.
When we sell a piece of equipment, we must account at the point which we sell it for all of the emissions that we'll generate through its entire lifetime in use. As we grow and we sell more products into our growing markets, unmitigated, the result would be additional Scope 3 emissions. This is where the compelling shared goal with our customer comes in. Driving down our shared footprint requires our customers to move to low carbon energy supplies and for us to provide them with new and improved sustainable technologies, a win-win partnership. The miners are making material commitments to reduce their footprint. Our top 10 customers are targeting between 30% and 50% Scope 1 and 2 reductions by 2030. Such is their belief in the shared goal and the impact our new technologies can have that we too have made a significant commitment.
That's to deliver a 15% absolute reduction in our Scope 3 emissions by 2030, alongside delivering our strong growth ambitions. That's an SBTi line target which we've submitted for validation. We're setting out to achieve this target from a position of strength. Our core value proposition is to our customers as low as Total Cost of Ownership or TCO. This is underpinned by our products operating more efficiently, so using less energy, less water, and lasting longer than alternative solutions with spare parts needing replaced less frequently. These characteristics come from our core expertise in metallurgy, manufacturing processes, and mechanical engineering. We have some of the world's leading metallurgists and foundry experts in our teams, and our exotic alloys and specific foundry processes are what gives our products their expanded wear life. However, this isn't the only benefit.
When products are replaced less frequently, embodied carbon emissions are also lower. Less metal being poured, less waste being created, and less carbon is expended in supply chains. Sustainability benefits are already part of our proposition. However, given the scale and pace of challenges the mining sector faces, there is much more we can do to provide transformational technology solutions. This is the driving factor of our technology strategy and at the very core of our purpose at Weir. Fundamentally, miners want to get more from less, and by working closely with our customers and listening to them, we understand their biggest priorities, which can be summarized into five simple themes: move less rock, use less energy, use water wisely, create less waste, and boost with digital. Specifically, miners want to reduce energy and effort expended in processing zero and low-grade ore.
They want to move less rock by moving only the highest grade material. They want to use less energy per ton of mineral produced, as that means lower emissions. While water remains fundamental to how minerals are processed, in some parts of the world, there's not enough, and in some parts, there's too much. They want to use water wisely and increase water recovery and recycling rates. Combined, these factors will create less waste. Our customers also want to achieve these goals while harnessing data insights to drive optimization in their operations. As we move forward, we're using these five themes as a framework for our technology strategy and to prioritize and allocate our engineering and R&D resources.
As our journey as a mining technology company continues, our expanding technology suite and ability to package solutions mean we now are better equipped than ever to address these customer priorities. Technology underpins our growth ambition. Many of our current growth initiatives are supported by new innovations which already align to one or several of the key customer themes. This includes Minerals HPGR and REDEFINE mill circuit technology, and also ESCO's transition from products to production partner, both of which we showcase at the capital markets event in September. Our range of more nascent technologies has the potential to deliver even further growth and is similarly aligned. This includes our innovative Hydro Hoisting solution, which significant energy savings are achieved by pumping rocks from underground rather than transporting them via trucks.
Today, we're going to spotlight how we're expanding the use of Motion Metrics, artificial intelligence to drive optimization across the full mining value chain, and also our TerraFlowing technology, which is making tailings more sustainable. More on these both shortly. With clear customer priorities and a compelling prize for making mining more sustainable, we are increasing our investment in R&D and rebalancing how this is spent. Historically, much of our investment has been on Horizon 1 programs focused on maintaining our core competitiveness. This includes investment in metallurgy and next generation improvements of existing product ranges. Of course, given this underpins our Total Cost of Ownership proposition, this remains utterly critical to our market leading position.
However, as we grow our R&D investments towards 2% of sales and expand our technology capabilities to include more digital expertise, we're increasingly allocating resources towards what we call Horizon 2 and 3 opportunities. These being mid and long-term opportunities which are potentially disruptive, and if they come to fruition, have the potential to further transform the mining process. Our R&D strategy is therefore very clear. We will continue to invest to protect our core value proposition while increasing spend to address our customers' biggest challenges and drive our future growth. The last thing I'd like to talk to you about today is Scope 4. As I mentioned a moment ago, as the mining sector grows, if unmitigated, the result would be additional Scope 1 and 2 emissions for our mining customers and additional Scope 3 emissions per year. We have a compelling shared goal.
Miners need to scale up and clean up at the same time. Countries will clean up their grids. Miners will electrify their operations and switch to low carbon energy supplies. The third critical enabler of net zero mining operations is new or improved technology that materially drives down energy consumption in the mining process. The comparative measure between the emissions of one technology versus another has the term Scope 4, avoided emissions. It's an emerging term that's not currently covered in the Greenhouse Gas Protocol. However, it has the potential to quantify the sustainability benefits of our products and solutions, and thereby support our customers in delivering their net zero targets. Because it's a comparative rather than an absolute measure, quantifying Scope 4 benefit is complex.
We're using a data-driven approach devised by both internal and external subject matter experts, and which we intend to have validated by a third party. This will underpin two value drivers for Weir. Firstly, our Scope 4 emissions data will become part of an enhanced and compelling customer value proposition, additive to total cost of ownership. For customers who are turning total cost of ownership or TCO into TCO². Secondly, while the U.K. taxonomy has yet to be established, our robust approach creates potential for a larger proportion of our sales to be classified as green revenues as we quantify the substantive CO₂ savings of our products in use at customer sites versus alternative technologies. Let me now bring this to life with an example.
Our High Pressure Grinding Rolls or HPGR is the first technology in our portfolio where we've quantified these avoided emissions benefit versus alternative technology. As a reminder, HPGRs operate in comminution, one of the most energy-intensive parts of the mine, and they provide fundamental process benefit over traditional tumbling mills, meaning they use significantly less energy to deliver the same output. In an HPGR, rocks are fed between two rollers, which use pressure to crush them. Whereas in a tumbling mill, energy is expending lifting and rotating rocks and grinding media. This is an anticipation that when they fall, the grinding media will strike a rock and crush it. This process is inherently inefficient.
As we spoke about in our September capital markets event, we've quantified the energy savings of HPGR as up to 40% relative to the tumbling mill, an avoided emissions benefit. However, this is only part of the scope for benefit for HPGR. The grinding media used in tumbling mills is a consumable and comprises large balls and rods forged in steel bars. These are heavy and energy-intensive to produce, and therefore also have a significant embodied carbon footprint. HPGR doesn't use grinding media, so also avoids these embodied emissions, which are 3-5 x that of the energy savings from the machine itself. To put this in context, taken together, a single HPGR can save up to 16,000 tons of CO₂ equivalent per year. That's the equivalent of 10% of Weir's entire annual Scope 1 and 2 emissions.
Our next step is to confirm our accounting framework for these avoided Scope 4 emissions and to seek independent verification. This will be compelling for our customers and gives us great confidence in achieving both our HPGR growth ambition and delivering against our Scope 3 emissions reduction targets. I'll now summarize the key messages from this part of the presentation. Firstly, our most material CO₂ emissions target is a direct shared interest with our customers. We are committed to a 15% absolute reduction in our Scope 3 by 2030, and that currently accounts for 97% of our footprint, and we're going to achieve this while simultaneously delivering our growth ambition. Secondly, our technology strategy underpins our growth ambition. Our customers' demand for more sustainable solutions will drive growth for our business.
By increasing our investment in R&D and aligning our resources to solving our customers' biggest challenges, we are accelerating mining's technology transition. Finally, we're working to quantify and validate our Scope 4 avoided emissions. In time, this unlocks the potential for green revenue recognition and compounds the benefits for our customers of using Weir technology. Thank you everyone, and I'll now hand over to Chris to talk about how Motion Metrics technology is enabling smart, efficient, sustainable mining.
Thanks, Paula. Hi everyone. I'm Chris Carpenter, Vice President of Technology at Weir ESCO. Today I wanna talk to you about Motion Metrics and how by combining it with Weir's mining capability, it's contributing to our growth ambition, while also helping our customers move less rock, use less energy, and create less waste. Let me start with a brief overview of Motion Metrics. Motion Metrics helps miners with their productivity and safety challenges through the use of artificial intelligence and machine learning capability, coupled with 3D rugged cameras. This proprietary technology gives mining machines and their operators an extra set of eyes. This includes the excavator and cable shovels for which ESCO provides ground engaging teeth and buckets. Motion Metrics systems are used to monitor the condition and performance of the equipment and also capture data on the size of rocks being moved.
As an early mover in this space, Motion Metrics has a library of over a decade of data which has been used to teach its artificial intelligence system. This gives it leading performance and makes it difficult to replicate. The core capability which first attracted Weir to Motion Metrics is its tooth loss detection system. This system gives machine operators real-time feedback if a ground engaging tool or GET is missing from the bucket. This enables immediate retrieval and avoids costly downtime in downstream operations. Loss detection has recently been complemented by GET wear monitoring capability, meaning teeth can be replaced at the optimal time to maintain machine productivity. This capability also opens the door to a vertically integrated digital supply chain in which ESCO is digitally notified when teeth need to be replaced and replacement teeth are automatically dispatched to the customer.
In which ESCO is digitally notified when teeth need to be replaced and replacement teeth are automatically dispatched to the customer. Motion Metrics AI has a number of other potential applications in the mine. This includes fragmentation analysis capability, which can identify rock characteristics including size, shape, and distribution of rocks, enabling miners to understand critical data about the rocks flowing through their operation. By bringing Motion Metrics into Weir, we have created significant value. In addition to leading AI and machine vision capability, Motion Metrics has a high caliber technology team of over 100 data scientists, hardware and software engineers, and technical sales and support professionals. This capability is incremental to Weir and proving to be an accelerator as we pursue our digital growth ambitions. On the other side of the balance, Weir brings strong sales capability.
At the time of acquisition, Motion Metrics was fundamentally an R&D organization with limited sales resources and a presence of only 80 mines. This compares to Weir, which has extensive sales network and access to thousands of global mines. Our footprint is therefore delivering a rapid adoption of Motion Metrics technology with 2022 revenue forecast to be more than double that of last year. The benefits don't stop there. Weir's deep-rooted mining knowledge and footprint across the pit and processing plant is enabling Motion Metrics to expand its value presence with its technology providing data insights across the mining flow sheet from mine-to-mill.
This in turn unlocks the opportunity to sell outcomes to our customers using data to improve equipment performance and mine productivity. This includes optimization of the load-haul cycle through the product-to-production partnership model, which we talked about in September, and also optimization of the mine-to-mill process using particle size distribution analysis. Further out, as we evolve our vision technology, we'll capture data on critical ore characteristics, allowing miners to be more discerning about which rocks they move and how they process those rocks, moving less rock, using less energy, and creating less waste. I'll now talk through each one of the three opportunities, starting with a brief recap of the product-to-production partnership model. In September, Andrew explained how we are combining Motion Metrics capability with ESCO's leading hardware to offer a package solution which improves customer productivity and reduces energy consumption in the load-haul cycle.
GET and bucket design is optimized for rock conditions and compatibility with other equipment at the mine site. Adding Motion Metrics tooth loss and wear monitoring system reduces downtime, improves productivity, and provides critical GET performance feedback to improve future designs. Its excavator payload monitoring system directly improves dig efficiency by measuring how much material is being moved with each dig cycle, providing machine operators with critical performance data and reducing variation in bucket fill levels. This same data provides ESCO important insights to ensure the customer is using an optimized bucket in the most productive manner. Combined, this overall package is delivering increased mine productivity and uses less energy per ton of material moved. Through our production partnership agreements, ESCO is being rewarded for unlocking these benefits.
Looking more broadly across the mine, Motion Metrics fragmentation analysis technology can determine the size, shape, and distribution of rocks on the rock face, in the mining bucket, in the truck, and also on a moving conveyor. This image analysis is often called particle size distribution, or PSD. With PSD capability, Motion Metrics is expanding its value presence across the mine to the processing plant where Weir Minerals operates. This is unlocking another step on Weir's journey from a product to a solutions provider. The PSD data captured is enabling miners to understand what rock is flowing through their operations and how efficient their crushing and milling processes are. Oversized material, which might block the crusher, can be identified and diverted before it reaches the processing plant, avoiding costly downtime, and milling processes are.
Oversized material, which might block the crusher, can be identified and diverted before it reaches the processing plant, avoiding costly downtime, and the crusher process can be optimized to suit the size of the rock. In addition, by placing Motion Metrics cameras at the start and end of the process, the mine operators can understand process efficiency. For example, by measuring particle size reduction in the crusher and correlating that with energy consumption data, the crushing process can be optimized to increase productivity and use less energy. Results from early adoption of Motion Metrics PSD solutions have been extremely encouraging. Feedback from customers is positive. Data sharing and collaboration have increased. This is deepening our customer intimacy, enabling us to think more broadly around how we solve their biggest challenges and consider how we evolve our business model to share in the benefits delivered.
Given this early progress, we are really excited about the opportunity and expect fragmentation analysis to be a key growth driver for Motion Metrics in the years to come. Looking further out, we believe ore characterization and in-pit ore sorting has the potential to transform mining by moving less rock, using less energy, and creating less waste. Ore characterization technology, which is underpinned by sophisticated sensing systems, captures critical data on properties and composition of rock, including rock hardness and mineral and moisture content. When coupled with Motion Metrics fragmentation analysis technology, it has the potential to be a game changer, giving miners a full picture of the size and characteristics of rocks. While ore characterization technology is nascent, Weir and Motion Metrics are at the leading edge. We have laboratory-validated equipment and field trials of our proprietary solution.
They're due to start at customer site before the end of the year. If successful, this technology opens the door to in-pit sorting, where miners complete the first stage of crushing in the pit and analyze the outputs to make real-time decisions about which rocks have sufficient mineral content to be moved. This is a step change from the current process, where energy is expended in transporting and processing all of the rocks, regardless of mineral content, and with significant waste generated from zero and low-grade material. Our vision is to move less rock, moving only the rocks with sufficient mineral content, and using the data that is captured on size and hardness to optimize processing. The natural evolution thereafter will be towards real-time automation control of processing equipment, ensuring the right rocks are processed in the most efficient way, using less energy and creating less waste.
While commercialization of this full solution is some way off, Weir's position across the pit and processing plant, plus our extended digital reach with Motion Metrics, means we are well placed to pursue and capitalize on this opportunity. I'd now like to play a short video where Shahram Tafazoli, the Founder of Motion Metrics, demonstrates its capability to you.
Hi, everyone. I'm Shahram Tafazoli, founder of Motion Metrics and Chief of Artificial Intelligence at Weir. When I founded Motion Metrics over 20 years ago, my vision was to use technology to make mining safer, more efficient, and sustainable. I'm now delighted that Motion Metrics and our team of 160 people are part of Weir. I'm particularly excited about how the group's global sales footprint and deep-rooted mining knowledge across both ESCO and Minerals can help us achieve that vision. Today, I'm going to show you some examples of our proprietary AI and rugged machine vision technology in action. Let's start with our flagship product, ShovelMetrics, and its missing tools detection and payload monitoring capabilities. Here on the screen, you can see an extract of what a shovel operator would see in their cab. The green colored teeth indicate that all bucket teeth are present.
The payload monitoring scale shows the weight of the material in the shovel bucket, as well as material already loaded onto the truck. You can see that an alarm has been triggered and one of the teeth indicators has turned red. This is providing fast feedback to the shovel operator that the tooth is missing and may have been dropped into the haul truck with the payload. Immediate action can now be taken to divert the truck with the lost tooth away from the primary crusher, preventing disruption on downstream conveyor belts or downtime due to a jammed or damaged crusher, a common and costly problem at every mine. ShovelMetrics uses a ruggedized state-of-the-art high-res color.
ShovelMetrics uses a ruggedized state-of-the-art high-res color 3D camera mounted on the shovel boom with a clear view of its bucket. Our proprietary machine learning algorithm can determine from the sequence of 3D images whether all teeth and lip shrouds are present or not. In addition, it can measure the length of each tooth, calculate their wear rates, detect boulders, and automatically delineate each visible rock using its 3D coordinates to provide accurate rock fragmentation analysis or particle size distribution data. Customers can access the data securely from each shovel equipped with the system from anywhere on Earth via our secure cloud-based platform. Now, let's fly higher. Here, we are circling above a large copper mine in Central Asia.
The mine is vast, but as we zoom in, a whole ecosystem of Motion Metrics technology has been deployed in various stages of mining and processing, with the overarching goal of making the mine safer, smarter, and more sustainable in a data-driven manner. By preventing loose GED and large boulders going into the processing plant, and by sensing various attributes of the rocks, such as volume, payload, and fragmentation at each stage, we bring visibility to the most unknown part of the whole mine and enable the mine to operate with eyes open. Starting with the drill-and-blasting stage, operators can assess blasting efficiency safely from the field with PortaMetrics, our handheld 3D rock fragmentation analysis device. ShovelMetrics then provides key metrics and payload data at the loading stage.
Haul trucks headed to the crusher are scanned by TruckMetrics and CrusherMetrics to monitor rock sizes and load volume characteristics. Finally, we are expanding our presence in the mine all the way through the mill circuit, where our Weir Minerals division operates. The processing throughput and rock sizes can be analyzed with Belt Metrics in real time, notifying the staff of any inefficiencies so they can take informed and rapid corrective actions. Our systems provide unprecedented operational awareness, which is critical to improving the operations, productivity, and environmental footprint. It's all done without interrupting the workflow. It's been a pleasure to share with you the exciting work we are doing here at Motion Metrics. Thanks for listening.
Thank you, Shahram. Hello, everyone. It's great to be joining you. I'm John McNulty, Vice President of Technology for the Minerals division here at Weir. Today, I'm going to talk to you about tailings, what they are and why they're a high priority for our customers. I'll explain how our TerraFlowing integrated solutions for tailings support our growth ambition, helping customers use water wisely, use less energy, and create less waste, and how we are boosting performance across the minerals flow sheet with Synertrex digital solutions. Firstly, a bit of context. Tailings are the waste stream produced in conventional mining processes. They are a slurry of waste rock powder and water with a liquid content that's typically around 45% by weight. In an average copper mine, 99% of mined rock ends up in the tailing stream.
With typical mineral contents and ore bodies below 1%, that means that for every ton of rock processed, you get 10 kilograms of copper, but you also get 990 kilograms of waste material, and that goes to the tailings. In fact, mining produces a staggering 19 billion cu. m of tailings each year, the biggest waste stream on the planet. In mining, there are three principal methods used for dealing with tailings. The traditional and most widespread today involves pumping waste streams to large tailings ponds where they are stored indefinitely. This requires safe and energy-efficient transportation to which our Warman and GEHO pumps, coupled with our Cavex cyclones, provide a good solution.
However, with such large volumes of waste, land capacity for the tailings pond itself is a significant consideration, and so is the water content. The more water that's contained in the waste, the more unstable the tailings become. As we know, this has given rise to a number of very tragic dam failures in recent years. Tailings ponds also tie up large volumes of water, which is an issue, particularly in water-stressed areas such as Peru, Chile, and Australia. There has been increasing pressure on miners to look for safer, more sustainable options. With it, a need for technologies that can reduce the water content of tailings to enhance the stability, decrease the amount of land area required, and reuse water in other parts of the process. For this, there are two further methods.
Thickened tailings, where the waste stream is dewatered to remove up to around 85% of the water. This creates a stable tailings stream, rather like toothpaste, which can be moved with special pumps with the extracted water recycled back into the process. The other approach is called filtered tailings, which essentially removes more water from the waste stream to produce a relatively dry waste and reusable water stream. The filtered tailings are typically conveyed or transported using trucks. As shown in the table on the right, when choosing a tailings approach, the challenge for miners is to optimize water preservation and sustainable long-term stability with the lowest possible energy use, and hence emissions. Weir's proprietary TerraFlowing technology, based on the thickened tailings methodology or paste, is a sweet spot solution for water, stability, and emissions.
Because customers' tailings needs vary from mine to mine, there isn't a one-size-fits-all solution. We are using our unique combination of best-in-class technology, engineering expertise, and understanding of miners' priorities to develop integrated solutions for tailings that are tuned to our customers' needs. We call this TerraFlowing, and on this slide, you can see an example of the process flow. We have cyclone and screening technologies to improve water and sand separation and create a drier and lower volume waste stream. If the tailings particle size composition allows it, we can extract sand from the tailings for use in dam wall construction. This further reduces the volume of tailings that has to be stored and extracts value from the tailings waste stream. Overall, we are able to remove up to 85% water, which is then recycled back to the process plant.
The resulting paste may be too thick for conventional slurry pumps to handle. Here is where we bring in our GEHO pump technology, which is the market leader in pumping dense paste with a low water content. With GEHO technology, we can pump these dense paste effectively over very long distances if required, allowing miners to store at locations that may be some distance from the mine without having to use trucks for transportation. More generally, the pastes produced via TerraFlowing are relatively stable and require substantially reduced storage volumes, thereby extending the life of existing tailings storage facilities. You may be thinking, "Why pump as a paste when you could filter technology to remove even more water?" The issue is energy use and the associated costs and CO₂ emissions.
Our engineers have correlated the content of the paste with the energy and the CO₂ emissions produced, comparing Weir's TerraFlowing technology with a filtered tailings solution. Although the total water recovery is 10% higher for filtered tailings compared to paste tailings, it is offset by 2 to 4 times more CO₂ emissions. There will be circumstances where filtered tailings are stipulated by local legislation and the customer has no choice but to use it. Our analysis clearly shows that TerraFlowing provides lower total cost of ownership to achieve a result very close to filtration. A perfect example of TCO². With the high profile of tailings and the need for smart, efficient.
With the high profile of tailings and the need for smart, efficient, and sustainable solutions, our TerraFlowing technology and integrated solutions underpins our ambitions to grow ahead of our markets and minerals. Let me share a short case study. An iron ore customer in Mexico needed a tailing solution to help them meet their future production targets. Working in partnership with the customer, our engineers developed an innovative integrated solution which combined Weir's cyclones, Warman pumps, and Enduron screens, replacing the mine's existing basic thickener plant and extracting a valuable side stream of construction sand for dam wall raising and substantially reducing the overall volume of tailings produced. The TerraFlowing solution will increase water recovery by 35%, providing more processed water can be reused and resulting in significant reduction in wet tailings.
The solution eradicates the need for a new tailings dam, therefore delivering significant cost and environmental benefits for the customer. Customers have always chosen Weir's highly engineered solutions for the highest productivity with the lowest total cost of ownership. As I've just explained, we're now turning TCO into TCO² with our sustainable solutions. As we continue to evolve our technologies to maintain market leadership, we are launching an upgraded generation of our proprietary platform, Synertrex, which boosts digital performance for our customers. This digital overlay is an essential part of our integrated solutions, enabling them to operate at best efficiency, and in the case of TerraFlowing, producing optimum water and energy savings. Maintenance can be optimized and planned, thereby improving overall efficiency of the equipment and enhancing productivity on the mine.
With the enhanced features I have just described, our second generation of Synertrex creates intelligent equipment and is the most powerful ecosystem available on the market for this application. Synertrex provides data-driven insights on our equipment, while Motion Metrics generates complementary insight on those processes within the mine. With these two platforms, our strong positions in mining technology and our growing AI expertise, we see exciting opportunities to develop enhanced and optimized ecosystems. These will drive growth for Weir and deliver smart, efficient and sustainable solutions for our customers. Thank you. I now hand you back to Jon.
Pulling together what Paula, Chris, and John have just described, as we look across the value chain where we operate, the positive impacts of our individual technologies are substantial. However, the most exciting opportunity for both Weir and our customers comes as we increasingly connect and integrate them. When we do, their positive impacts are compounded, delivering sustainability benefits that are even greater than the sum of the parts. In our vision of the mine of the future, in the pit, Motion Metrics enable the ESCO equipment means only ore with the right mineral content will be selected, while movement from the pit to the processing plant will be optimized, meaning less rock is moved and less energy consumed.
With only the right rock entering the processing plant and processing via an integrated flow sheet of Weir technologies, water will be used wisely and energy consumption reduced even further. All the energy and water consumed will be in the processing of higher grade material, not waste. In turn, this means less waste per ton will be created as tailings. For the waste that is produced, Weir has the right blend of technologies to find the sweet spot which balances water recovery with tailing stability and energy consumption. With our proprietary digital systems overlaid, technologies across the mine will communicate with each other and to the operator, optimizing the operating conditions at every stage of the process and preempting and resolving potential issues.
With our leading technology portfolio, Weir is and will be a critical supplier to our customers, helping them achieve their sustainability ambitions, maximizing productivity and minimizing environmental impact, and summarized in a compelling value proposition of not only lowest total cost of ownership, but TCO². In summary, Weir is a leader in mining's technology transition. Mining is critical to a net zero future and sustainability is critical to mining. With our technology and solutions, we are reducing our customers' footprint and making their operations more sustainable. As we've described today, our technology strategy is focused on helping our customers solve their biggest priorities. Sustainability and technology are therefore fundamental to Weir.
Our customers' demand for sustainable solutions underpins our mid to high single-digit growth ambitions and also the delivery of our own goals. It's a win-win situation. As we turn back to where we started, I'm really excited about the future of Weir. We're in the right markets and positioned for long-term growth. With our unique capabilities in technology, we are well-placed to deliver for our customers and for the planet. It's these factors which therefore give me great confidence in reaffirming our commitment to excellent outcomes for all our stakeholders: compounding growth, margin expansion, strong cash conversion, best-in-class resilience, and a compelling sustainability roadmap. Thank you very much for your time today, and we'll now move on to Q&A.
Thank you. If you would like to ask questions today please press star followed by one on your telephone keypad. As a reminder, that's star then by one. We have a question from Christian Hinderaker of Goldman Sachs. Christian, you too can go ahead to the listening queue.
Yes, good afternoon, everyone. Thank you for the opportunity. Hopefully, I can take three questions, if I may, and then have the statement in turn. Starting with the first one, you've highlighted the GBP 500 million opportunity from digital capabilities within ESCO. Just interested from your customer discussions and long-standing experience in the marketplace, do you expect that opportunity to come in the form of increased aggregate CapEx across the sector? Do you think it's gonna come within existing CapEx budgets and therefore represent more of a market share gain opportunity for you? Then I can come back to the second two.
Hi, Christian. Thanks for the question. I should just say that you've got myself and Paula here in London, then also, virtually Ricardo Garib and Andrew Neilson, they can pitch in as we go through. I should also say that I know that some people are on the phone lines, there's also a facility via the webcast to type in questions. If anybody wants to use that facility, please do so, and we'll try and coordinate that. Let me start with the answer to the first question.
The GBP 500 million market opportunity that we have sort of set out in relation to digital is really our view of what the potential market will develop to for technologies such as Motion Metrics, which have eyes on the mine and will provide data and insights to drive more efficient and safer operations. It's our view of what the emerging market will be. My expectation is that that will not be a CapEx driven market, actually. If we think about it today, the Motion Metrics model from a revenue perspective is sell the hardware up front and then have a subscription, sort of license for use of the AI and software, you know, over multiple years.
I think that will remain a model, but increasingly, I think there will be further OpEx type models that will be the key driver of that market. I don't think we necessarily need there to be, you know, an increase, if you like, in terms of CapEx budgets to enable that market. I think it will come out of OpEx, by and large, and you know, therefore will be driven by operators on the mine, you know, who have, you know, very clear goals in terms of improved efficiency, eliminating downtime, reducing waste and so on, and we'll be selling into that kind of person, if you like, on the mine site.
Thank you, Jon. That's clear. You've outlined secondly, that the market needs to see $23 billion a year of CapEx on new copper projects in order to meet new global climate targets. Obviously we've yet to see really any meaningful greenfield announcements. Permitting, I think some of the things you flagged as one of the obstacles here. I'm just interested in what you're hearing from customers at the minute in terms of expansion plans as it relates, that we've yet to see really any meaningful greenfield announcements, those permitting issues, and indeed any sort of more near-term considerations about the macro environment.
Yeah. I think the overarching point is that we need a lot more copper than we are producing today. You know, you saw some of the numbers in the slide pack up to, you know, 10 million more tons of mined copper per annum, which is a very significant uplift from where we are today. My view is that in terms of, you know, surface mining projects, there's not enough in the pipeline to do that. My view is that, you know, our customers are working very hard actually to try and identify new projects, to accelerate projects, to bring forward projects in a way that will enable to fill some of the gap. Even then, I don't think that's gonna be enough.
I think you will also see an increase in, or need development of new recycling technologies, potentially development of deep sea mining in due course, and, you know, further evolution in terms of, potentially chemical and bacterial leaching of copper. I think the only way we're gonna get there is sort of all of the above. I think that, you know, I think we will see over the next few years a scramble, if you like, to figure out what are the different levers that the mining industry needs to pull to really start to generate the increase in production of copper. For Weir, it's sort of, you know, we're sort of slightly agnostic to where it comes from. There's a win-win situation for us.
Clearly, if there are, you know, large new projects coming through, then that's the opportunity for us to bid for new install base. If there is new technologies emerging in terms of bacterial leaching, for example, chemical leaching, you know, today we are, you know, the world's leader in the pumping of sulfuric acid, which is gonna be a, you know, will be a key feature in that. Our general process equipment would be required in that space as well. I think fundamentally stepping back, if new expansions, new Greenfields don't come through rapidly enough, then you're just gonna see an increased focus on existing brownfield mines. How do we accelerate the development of the mine? How do we produce more than we'd originally planned?
How do we sort of scale up, the process plants in a way that will allow the production of more copper or other metals from existing mines? You know, that's really the sweet spot for Weir. You know, the way that I think about it is it's sort of a win-win for us, you know, which, You know, it's very difficult to predict how, you know, where the new copper is gonna come from, Whatever happens, Weir is incredibly well placed to take advantage of that growth.
Thanks, Jon. Thirdly, the 30% Scope 1 and 2 emissions target by 2030. Just interested in what you see as the main actions required to meet that goal, and whether it can be achieved within existing CapEx expectations?
Mm-hmm. Paula, do you want to start off?
Yeah. There are two main levers for us to get to the Scope 1 and 2 targets. First of all, first and foremost is efficiency. We really want to drive efficiency in our operations. Electrons used, whether they're renewable or not renewable, are still costly, and it's a big component of our cost base. Number one is efficiency. Then secondly is where we can't drive through efficiency measures, of course, we can only get so far. It's then shifting to lower carbon energy sources. We've driven that really hard in the last year or so. Significant movements in Australia, Malaysia, South Africa, to name some examples, that is really starting to move us over there. We do still have a little bit of a headwind in some countries that we operate in.
China is a bit trickier to get those low carbon supplies. Some areas of North America. Eventually at some point, we will need to have Energy Attribute Certificate or REC strategy to get to our final 30% goal. We want as much as possible to do it through efficiency and through real renewable contracts rather than anything that's more of a, you know, technical construct. We don't think that we will need to use any, but we want as much as possible to do it through efficiency. Carbon offsetting to get there. That's not part of our strategy. In terms of cost-wise, we're finding in almost every case that it's actually cheaper. I mean, the cost of renewable supply is going down all the time. The technology is getting better.
The payback is certainly getting shorter. In quite a lot of cases, we've actually found it's been a win-win. It's been a CO₂ saving and a cost saving for us. It generally is really proving quite a fruitful strategy.
Thank you very much.
Okay, thanks, Christian. I've next got three questions from Jonathan Hurn at Barclays, which we'll take in turn. The first one is, can you take us through the addressable revenue opportunity for your TerraFlowing technology? I'll just give an overarching answer on that and then ask Ricardo to comment specifically. Jonathan, the way that we're thinking about, you know, the technology pipeline that we have is to say, you know, it's quite difficult to put a number, you know, on the revenue opportunity at this point. We're building a portfolio of new solutions and technologies. You know, frankly, some of them we're hoping will be incredibly successful.
You know, some of them might not fly as well, but it's about building a basket of options, if you like, in new technologies that we're bringing to the market. Then my view is that when they reach a certain scale, we'll be able to say, "Okay, now, you know, we've got evidence of the trajectory that we're on in relation to this particular technology theme," and then we'll start to put a number and a framework around it. Excuse me. I would say that, you know, HPGR and comminution is a great example of that, where, you know, earlier this year we said, "Right, you know, we can now see the trajectory that we're on.
You know, we think that business is now capable of being trebled over the next five years to a sort of GBP 400 million-GBP 500 million business from where it is today. You've now got a sort of, you know, a framework, if you like, for where we think we can take that business. If you look at Motion Metrics and some of the other new technologies such as Terraflowing, then, you know, they're in the low sort of, you know, GBP 10 million-GBP 20 million sort of range at the moment. I don't feel we've got the scale to say, "Look, you know, this is what the number's gonna be in five years' time." As they grow, then we'll start to put numbers. Across the basket of technologies that we've got emerging, you can start to put a frame around that.
That said, you know, we are very excited about, you know, TerraFlowing and, you know, the sweet spot that we've created with that technology. I'd just like to ask Ricardo to talk a little bit about, you know, the opportunities that he sees for, you know, use and adoption of the TerraFlowing technology and maybe some of the examples that we're seeing already. Ricardo, if you could just give a bit of color, that'd be really helpful.
Thank you, Jon. Good day, everybody. Yes, TerraFlowing is absolutely a tremendous integrated solution proposal from The Weir Group. I think we're unique that we can put together not only how we can squeeze water out of the tailings, but also how we can convey and transport tailings in what we call paste. Basically, it's like a very dry dough. We have a really good example. I was last week in Mexico where one customer survival opportunity is because of TerraFlowing as they are using water that comes from a river and compete with a very productive agricultural valley. Now that customer in particular is saving 17,000 cubic of water, recycling through the process instead of using mostly fresh water.
Our proposal on TerraFlowing is picking up. As Jon might notice from the video, we have three stages. Just combine tailings, creating a paste, what we call, a drier tailing and also the last stage's filter. Moving customer from stage 1 to stage 2, I think will be paramount, especially in places where water is scarce or water competes with agriculture or city needs. Again, just to repeat myself, Weir has probably a unique proposal in the market. We can put everything together, screen, cycles, pumps, piston diaphragm, into one unique integrated solution. I hope that just answers the question, John.
Yeah, great. Thanks, Ricardo. Jonathan's second question is to develop your digital offering. Do you think more-?
To, one unique, integrated solution. I hope that's just-.
M&A is needed or can it be done organically? I'll take that one. I think, Jonathan, we think about our digital offering in the same way as we do the entire portfolio of products and solutions that we have. Which is to say, you know, we put in place an organic growth strategy to develop that offering and that value proposition to the market. If we see acquisition opportunities that will accelerate that or organic strategy, then those are the sorts of things that we'll be very interested in. If I take the two divisions, it's quite clear. If you look at minerals, you know, we've really developed organically our digital offering there, which is essentially the, you know, the Synertrex platform and field service platforms that we're developing off the back of our SAP ERP system.
We're doing it all ourselves there. Again, if there's an opportunity to acquire something that will accelerate that, then that will be of interest. In ESCO with Motion Metrics, you know, we were developing ourselves organically, and then we found this wonderful business which really leapfrogs us forward in terms of the offering that we have for the market. The depth of artificial intelligence capability that it brings into the business is very, very significant. We have our eyes on, you know, some other tech things which may accelerate, and if the right moment comes along where, you know. As you know, M&A is opportunistic, but if the right moment comes along where we can bring those things into the portfolio to accelerate our strategy, then that's gonna be very attractive to do.
I would say, you know, we've now owned Motion Metrics for 12 months, and, you know, as a team, we're all incredibly excited about what that's bringing. You know, our eyes have been really opened, hugely to the opportunity that is now bringing to provide new insights and data to our customers to have eyes on everything that's going on across the mine, as you heard from, Shahram, which, you know, has the potential to be game changing to my mind if we can get to mass adoption. Early days, but very, very exciting. If we can find other businesses like that, then that would be great. The third question, Paula, is what is the expenditure or cost needed each year to meet your Scope 1 and 2 emission reduction target?
As we look to 2050, do you think more will be needed to generate net zero Scope 1 and 2 emissions?
Yeah. I touched on this a little bit earlier question. Yeah, there, I mean, there's four main areas that we can look at for that target. There's, there's CapEx expenditure around efficiency where we may need to replace boilers or replace equipment. As I said, the payback for those is getting way shorter than it ever was before. I don't have a year-by-year breakdown, but it, it's not significant, it's not material. In most cases, they've got pretty short paybacks. We're also looking where possible, where there's, you know, a leverage funding that we can get to get some support for those in some, in some countries. The one I didn't touch on earlier is the behavioral change. John mentioned this a little bit in his earlier part of the video. Some of this is just really simple.
It's the equivalent of getting your kids to switch the lights off when you leave the house. You know, we're leaving equipment running. Every organization has inherent inefficiencies, but there's things like just really, really rigorously switching things off, turning things down, and the behavioral change that goes through the whole of the organization. I think one of our operations directors said that they've seen more engagement in this than they've ever seen in any initiative in their whole time in Weir. The passion behind this from all the people in the organization, this is the sort of thing, Scope 1 and 2 is something everybody can do something about, whether you work in an office, whether you work in a really high intensive machine, energy intensive machine.
It's creating real value from us from an engagement perspective as an organization as well and driving down those costs. Those are the things to reduce the consumption in the first place and then to, you know, change the impact of that consumption. It's about changing to renewable contracts or having some self-generation as well. As was touched on the video, we're moving more and more to actually, we have a lot of operations in very, very sunny climates, and we're managing to move more and more to self-generating on our own sites. The combination of all of that means it's, as I say, I don't have the numbers to hand, but it's really not material. In many cases, actually, it's financially positive for us to get more and more to self-generating on our own sites.
The combination of all of that there, the challenge remains for us. The challenge for us to get there is not financial. The challenge for us to get there is some of the countries that we operate in still not having good access to renewable supplies. That's something we're working on every time we invest somewhere new and in the countries that we're having more challenge with right now.
Thanks, Paula. I would just reiterate what Paula said about the sort of cultural and behavioral piece of this. It is, I've just been blown away by how much pull from the organization we've had for the many sustainability initiatives that we've put in place. Back to what Rosemary McGinness said about, you know, the culture and, you know, the kind of environment we're trying to create, people want to do something meaningful, and they want to do things that are going to help and deliver on their, our, the company's purpose, but their own personal one. You can see that, you know, I think in the engagement that we're getting and just the huge amount of pull from the business for the projects that are gonna drive down our CO₂ emissions.
I think the traction that we've got has just been utterly phenomenal. And to the point about, you know, some of the more difficult countries, what's been great is that, you know, we looked at places that we do operate such as, you know, the southern part of the United States, South Africa, where just historically we've been, you know, really our electricity comes from, you know, coal-fired generation. We thought that was gonna be quite difficult to tackle. You know, we were in South Africa a few weeks ago, and we've just built a 1 megawatt per hour solar plant on the roof of one of our facilities. We're trying to figure out how we can do the same on another.
That has the potential to take out almost half of the electricity that we're buying from the grid, you know, and which is an unreliable grid and a grid which is coal-fired. You know, where we can do that, we're running hard to do those things, and I think there's much more of that to come. Okay, we have another question from Harry Thomas of Trium Capital, which says companies such as Jetti Resources have potentially attractive future solutions for copper, both in terms of yield, the cost, and emissions. How do you view these potential competitive threats, and are you looking at this area from an M&A or R&D perspective?
It's a great question, and I think it's something I, you know, I sort of partially answered earlier on in terms of where is the new supply of copper gonna come from. My personal view, you know, it's all of the above. It's gonna come from working the existing surface-based mines that use Flotation processes, of which there is trillions of dollars in investment capital, by the way. They need to work much harder. We need to identify and develop new mines, which will, you know, also add to the solution. The evolution of Chemical and Bacterial leaching type processes, such as with Jetti, I think could have an important part to play, albeit, you know, it's very small scale at the moment.
You know, if you think about the movement of earth, the liquid-based processes that are gonna be required to do that, then again, that plays into the product portfolio that we have. We are, to your point, we are sort of looking at also from an R&D perspective as to how we can, and in the sort of theme of integrated solutions, how we can play more into that space. Frankly, I'm sort of viewing it as not as a competitive threat, more as an opportunity and, you know, part of the solution where we all have to work together to figure out where the copper and other transition metals are going to come from.
It's very much something that we're looking at in terms of our technology foresighting, and the R&D pipeline, whether that would, in that case, evolve into an acquisition situation, I'm not sure yet. You know, we would always have our minds open to that. Another question, sorry. This is from Debashish Chand, from Soc Gén, for Paula. Could you give a bit more detail on where you are in terms of your calculations of the Scope 4 savings, and what is the approach you're adopting? Is it based on your install base or on your technologies? Give a bit more detail on where you are in terms of your calculations of the Scope 4-
Yeah, thanks. First I'd like to start with the thing about Scope 4 is I feel really strongly that Scope 4 is by far a much more scientific measure at measuring impact than green revenues. It really does capture the essence of what capital goods companies can do in terms of driving energy efficiency, and that's why we think it's such a important thing to measure and quantify accurately. It is very complicated, so what we have chosen to do is do it by technology and then look at the install base of that technology. I know many do sort of top-down and look more about potential validation. What we're doing is doing it bottom-up, looking at the products that we think have the biggest impact.
Because with all areas of our sustainability roadmap, we always have gone for materiality first, where we think there's the biggest impact. We started with HPGR and also one of our Warman pumps. That's what the numbers that we talked about in HPGR were what in the presentation. We've done that by doing a full Life Cycle Analysis that we've done with a third party using third-party database, third-party tools, and we're looking to have third-party validated. It's not done yet, but we're looking to have that done. That has validated what we already knew, that, you know, more than 97% of our footprint is with our products in use in our customer site, which gives us real push towards that avoided mission Scope 4. We've done Life Cycle Analysis.
You have to have a competitor in technical terms, the counterfactual for Scope 4 to be valid. We've compared that to tumbling mills. We've thought through operational assumptions, both in terms of where that product's operating, how many hours it's operating for the lifetime of the product, and then put that all together to come up with the numbers that we're looking at now. As you know, Scope 3 is a product in use for the lifetime of the product. Scope 4 doesn't have the same degree of definition yet about what you should use as the light of the, of the timing comparison. For the numbers that we've been talking about now are annual comparators. What we're aiming to do is build that up over more of our portfolio next year.
We were determining those as our phase 1 products. We wanted to, one, prove the concept before we then started rolling out more broadly through the organization. We've done those as we think are the, are the bigger ones to look at. We plan to roll out, as I say, to more phase 2 products next year and to start thinking about setting a target. I mean, part of the question was when we think about setting a target, we'd like to be able to do that as soon as we possibly can. You know, once we have our Scope 4 process and methodology validated, we'd like to start setting a target against that because we really do think you can't offset one against the other. We're very clear, and we're not trying to.
We really think looking at Scope 3 and Scope 4 together for us as an organization will really show where we're making a difference. As we said, if we keep selling more really highly energy efficient products, if they're 50% more efficient, but we sell twice as many of them, we stand still on Scope 3. What we need to do, but what we are doing is pushing another product that's less efficient out of the market. The societal impact is the positive. That's where you measure the positive societal impact by looking at Scope 4 and Scope 3 together. Wholly recognizing you can't offset one against the other, looking at the two together gives the whole picture.
There's a follow-on question on timeline in terms of reporting on Scope 4 savings. Paula?
Yeah, as I say, I mean, I'd really hope to be able to start setting a target next year and then holding ourselves accountable to that, 'cause I do think we've got a lot to say, now watch this space. We need to have it verified and validated, but I think it's really important for that telling the whole story.
Yeah.
I say green revenues are a blunt tool. They don't show what the actual impact is, where the Scope 4 really does.
Yeah. Absolutely. A follow-on question on HPGR. Sounds like a key technology to deliver the Scope 4 emission savings. Can you give a bit more detail on your existing install base in terms of units? What's the key differentiation of your HPGR offering versus the existing competition in the market? I can give a little bit of color about the install base, and then maybe Ricardo come in on the technical differentiation of our product relative to the competition.
Yeah, I mean, for us, HPGR has been something that we've been passionate about, for, you know, over a decade now in terms of the technology that we initially acquired and then upgraded to take to market. As we said before, been very, very successful in terms of market share gains over the last few years. We've won circa, you know, 80% of the large format HPGR projects that have been bid, so we've got a rapidly growing install base. You know, it's probably still in the, you know, the tens of units at the moment versus the hundreds.
In terms of the competition on the sort of the previous technology, if you like, there's probably an in-installed base of around 150 machines where, you know, we actually compete for the aftermarket, and we will compete for the replacement cycle as that comes through. A lot of the growth will come from both greenfield expansions, where we expect HPGRs will increasingly supplant the tumbling mill technology for the reason that Paula talked about in the conversation. You know, to the extent there's a lot of brownfield modular expansion opportunity, then HPGR is absolutely perfect because you don't need to replicate the whole sort of process plant, the concentrator,
with the old technology, you can add modular HPGRs to add 10% and 20% more capacity to a processing circuit, so we think it's perfectly placed to do that. You know, it was a slow burn at start. We've got real traction over the last two or three years. Obviously, as I said earlier, I've now got quite a, you know, an aggressive growth target for what we aim to deliver over the next five years. Then, Ricardo, if I could ask you to just sort of comment on the technical differentiation of our HPGR versus the competition.
Yeah. Thank you, Jon. happy to do that. Basically, our machine is absolutely designed for a mining application. While our competition started from modifying machine design for cement, we did it the same. We stopped for three to four years, and we completely redesigned the equipment. We can guarantee three things were important. One is that a very low security load because our machine is wider and bigger. The second thing is that we can open and close the machine if we find any, what you call uncrushable, any piece of strange element coming to the machine. The machine will liberate it and not destroy itself. The third one, we believe our digital proposal, whether artificial intelligence or the machine and the scanner will make it adjust to what the different conditions are.
Also want to add what John said in terms of the growth. We see good opportunities on brownfield expansions, as John mentioned, especially modularization, but also we call on pebble crushing. Most of the mines, especially the hard ores, have large amount of pebbles sitting in stockyards, and if there's the right equipment to crush those and put back into the system. I hope that solves the question, John.
Thanks, Ricardo. I know Ricardo is very passionate about pebbles, let me explain. These are not the things you find on a beach. Through the tumbling mill process, when you know, you normally have jagged rocks which get broken by the grinding media, but some elements of the ore, once you've knocked the corners off, they become rounded like a pebble, and you can't do anything with them. You know, they won't break down any further through the traditional processes, they get discarded. Many mines have, you know, mountains of pebbles which they haven't been able to process, which are just sitting there. That's a fantastic opportunity because they will get ground up by an HPGR very readily.
We've got lots of bids in the pipeline at the moment to go after the pebble mountains that are sitting in some of the mines around the world. Another question from the webcast here, which I think is for Andrew. On Motion Metrics, how has the integration gone? What's your ambition on the size it can become? Of course, Andrew, you're moving to Weir Minerals on the 1st of January, this is gonna be for Sean to deliver, have at it.
Thanks, Jon. I mean, I think, personally, in terms of integration, we're really pleased with how that's gone. It's generally been as smooth as we could have hoped. We've really integrated the business well. We were sensitive to the risk of a traditional engineering company coming in and buying a technology company and not respecting the cultures or slowing it down. We're really pleased that indeed, all the key technology guys are still with us, and the employee turnover has actually been the lowest for over four years. Really pleased how integration has gone. Indeed, all the key technology guys are still with us, and the employee turnover has actually been the lowest for over four years.
Really pleased how integration has gone, and indeed, the collaboration that we've already seen in the first year with ESCO, really using our sales channels to drive the growth John referred to earlier, and using our mining knowledge to really sharpen and help define the proposals and the production partnership models and the insights that we can get from the data. We're just scratching the surface, I think, in terms of the value we can provide to our customers by using the AI technology, the rugged camera technology, and the amazing database of images allied with our insights into mining, what we can do for the customer. In terms of how big it can get, as Jon said, we're expecting to roughly double to around GBP 20 million revenues this year. We would expect to continue growing at a fairly rapid rate.
I wouldn't put bounds on it. We are really, as you saw from the videos, excited where we can go over time with this. I think we're just scratching the surface with ESCO, and indeed we've just started the conversations with minerals. For example, right now we are looking at using these cameras and this AI technology on the input and the output of an HPGR to produce that closed circuit that Ricardo referred to. As we're doing that, aiming to move the technology to smaller and smaller particle size, which opens up opportunities not just at the primary end of the crushing circuit, but more into the secondary and potentially tertiary as well.
Yeah, I wouldn't put a number on it, but I think you can tell from the enthusiasm coming from across the piece, we are really pleased how the integration's gone. I think we all just see so many opportunities. It's really about how do we now prioritize and go after that and ideally try and scale as quick as we can.
Great. Thanks, Andrew. There's a follow-on question here again from Harry at Trium, which is: Is X-ray or something similar to assess the ore grade a potential addition to Motion Metrics? I'll take that. I think, yeah, what Motion Metrics today is doing is obviously giving our customers eyes on in terms of the fragmentation of the rocks, which again is, as Chris and Shahram in the video, explained, is very, very valuable to customers in terms of being able to fine-tune the process and eliminate downtime and so on. The next question is, well, okay, we understand the size of the rocks, but we want to know what's in those rocks.
So again, you can be discerning in terms of ore sorting, so you're only processing the high grade rather than waste material. There are multiple competing technologies, mostly at very early stage around that, X-ray, hyperspectral among others. There are sort of, you know, various startups looking at that. We're looking at that from an R&D perspective in terms of working with academia on various ways that you can potentially, you know, generate a signal from the rock to say what's in it. That is an exciting further addition. Again, it comes back to what I said about how we, you know, we execute our strategy. We are spending dollars on that from an R&D point of view at the moment to try and drive it organically.
Again, there may be acquisition or partnership opportunities in the future with other technologies, just as we, as we did with Motion Metrics. That's, you know, that's a bit more sort of futuristic, if you like, in terms of the technology. Of course, as with everything in mining, whatever you bring has to be completely ruggedized and able to operate 4,000 meters up in the Andes or in a highly humid, tropical part of the world, you know, wherever the mining is. Getting, you know, these technologies that work in a lab, getting them to be ruggedized and scaled so they can work in mining is no easy feat, I can tell you. We're definitely working.
So getting, you know, these technologies that work in a lab, getting them to be on that. I think there's one final question actually, which is following on from the comment on sulfuric acid pumps. Is it possible to quantify the revenue opportunities in a mine, using leaching versus traditional mineral extraction methods? That's quite a difficult one to answer. I think, you know, as the other question about leading resources. You know, there are emerging technologies which will potentially enable more leaching to take place through new technology than is being done today. Leaching already exists in quite a meaningful way.
When a new greenfield project starts, it's very typical that the surface substrates of the ore body will be mined and the metal, be it copper or whatever, extracted through a leaching process. You move on to more of the sort of the Flotation processes would be typical in copper. It's difficult to quantify. What I would say is that if certainly if chemical leaching accelerates, then, as you know, given the position that we have globally with sulfuric acid pumps, then that could be another, you know, very good revenue generator for us, you know, as we grow from here. Quite difficult to quantify at this point in time. I just come back to what I said earlier.
Hopefully what we're trying to demonstrate today is that we've got a broad portfolio of technologies. Some of them are at an early stage. Some of them have the potential to, you know, generate very significant revenues over time, but very, very clearly give us the underpin for our target of growing our revenue mid to high single digit through the cycle. I'll just confirm there are no more questions. With that, thank you very much for participating today. We hope you got something out of our video in the Q&A. Of course, if there are any follow-up questions once it's all been digested, then, please contact us directly through our investor relations team, and we'd be very happy to continue the conversation.
Thank you very much, and, have a good weekend.