Barrick Mining, operator of the Reko Diq Mining joint venture (JV), and Komatsu have concluded a $440m agreement for the supply of mining equipment to Barrick’s Reko Diq copper-gold project in Pakistan.
The contract will begin in 2026 and extend over the first five years.
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The Reko Diq copper-gold project is claimed to be one of the world’s most important greenfield mining developments, contributing to the economic development of Pakistan.
This deal marks Komatsu’s first significant mining equipment contract in its Middle East territory and highlights the growing partnership between the two companies.
Barrick president and CEO Mark Bristow said: “The Reko Diq project represents a long-term investment in our future and that of mining in Pakistan, and our partnership with Komatsu is an important part of that vision.
“Komatsu equipment has proven its performance and reliability at our operations worldwide, and we are confident in their ability to support our goals at Reko Diq. We look forward to building on this strong relationship as we develop one of the world’s newest greenfield assets.”
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By GlobalDataThe equipment package for Reko Diq includes several advanced machines including Komatsu 980E-5 ultra-class haul trucks, P&H 4100XPC AC electric rope shovels, PC7000-11 mining excavators and WE2350-2 electric wheel loaders.
Komatsu plans to establish a new entity, Komatsu Pakistan Mining (SMC-PRIVATE), to support the operations at Reko Diq by delivering service and technical expertise.
Further investments will be directed towards its regional headquarters in Dubai, Komatsu Middle East FZE, to bolster an expanded equipment presence in the area.
These investments will ensure that Barrick has the necessary resources to operate efficiently at Reko Diq.
Komatsu Mining Business Division president Peter Salditt said: “Barrick is an important global partner for Komatsu, and we are excited to expand our relationship to support the development of Reko Diq.
“The scale and complexity of this project demands proven, high-performance equipment, and we are confident our ultra-class haul trucks, electric rope shovels and other mining machines will meet the challenge. We look forward to continuing to work alongside Barrick to drive productivity and innovation in mining.”
The latest contract builds on Barrick and Komatsu’s previous collaboration at Barrick’s Lumwana copper mine in Zambia and the Nevada Gold Mines complex in the US.
In April, Barrick revealed that shareholders in the Reko Diq JV have endorsed an updated feasibility study for the Reko Diq project and conditionally approved the associated capital for its phase one development.
This approval is dependent on obtaining up to $3bn ($C4.11bn) in limited recourse project financing, which will facilitate the commencement of significant works this year.
