Abstract: A high temperature water-cooled gas-tight lubricated steel plug valve for handling abrasive particulates (such as iron ore or sponge iron) having a water-cooled hollow double-walled housing with opposing inlet and outlet, a hollow internally-baffled axially water-cooled cylindrical plug with a transverse flow pipe defining a bore therethrough, at least one relatively thin-walled replaceable iron wear liner of generally cylindrical shape having corresponding bore passages and being positioned around said plug member and fixedly keyed within said housing whereby wear is generally limited to the relatively-moving interfacing inner surface of the wear liner and the outer surface of the plug member. The plug being machinable to restore the proper shape and tolerances when combined with replacement of the wear liner by one of compensatingly greater thickness.