Canada's Barrick, Jamapn's Komatsu sign $440m deal for Reko Diq mines

(Web Desk): Canadian mining giant Barrick Gold Corporation, operator of the Reko Diq Mining joint venture, has finalised a $440 million agreement with Japanese construction equipment manufacturer Komatsu for the supply of primary mining equipment to the Reko Diq copper-gold project in Pakistan. The deliveries are set to begin in 2026.

In the a statementm, Komatsu said “Valued at $440 million over the first five years, the deal marks Komatsu’s first major mining equipment placement in its Middle East territory and underscores the strengthening partnership between the two companies."

It shared that as part of its commitment to supporting Reko Diq’s operations, Komatsu intends “to establish KOMATSU PAKISTAN MINING (SMC-PRIVATE) LIMITED, a new entity dedicated to providing service and technical expertise at Reko Diq”.

“Additional investments will also be made to Komatsu Middle East FZE, the regional headquarters in Dubai, UAE, to support an expanded equipment footprint in the region,” it 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,” said Mark Bristow, Barrick President and CEO.

According to the statement, the equipment package for Reko Diq includes: Komatsu 980E-5 ultra-class haul trucks, P&H 4100XPC AC electric rope shovels, Komatsu PC7000-11 mining excavators and Komatsu WE2350-2 electric wheel loaders.

“Barrick is an important global partner for Komatsu, and we are excited to expand our relationship to support the development of Reko Diq,” said Peter Salditt, President, Komatsu Mining Business Division.

“The scale and complexity of this project demand 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,” he added.