Reko Diq Mining Project Secures $440 Million Equipment Deal

Barrick Gold Corporation, the Canadian mining firm managing the Reko Diq Mining joint venture, has officially entered into a $440 million agreement with Komatsu, a Japanese manufacturer of construction equipment. The agreement involves the supply of essential mining equipment for the Reko Diq copper-gold project located in Pakistan, with deliveries scheduled to commence in 2026.

Komatsu stated that the agreement, valued at $440 million over the initial five-year period, signifies Komatsu’s inaugural major mining equipment deployment in its Middle Eastern territory. It also highlights the enhanced collaboration between the two entities.

The company communicated its intention to establish KOMATSU PAKISTAN MINING (SMC-PRIVATE) LIMITED as part of its dedication to assisting Reko Diq’s operations. This new entity will focus on delivering service and technical support at the Reko Diq site.

The company further noted that additional investments will be directed towards Komatsu Middle East FZE, the regional headquarters situated in Dubai, UAE, to facilitate an expanded equipment presence in the region.

Mark Bristow, President and CEO of Barrick, stated that the Reko Diq project represents a lasting investment in the company’s and Pakistan’s mining future, and their alliance with Komatsu constitutes a vital element of that vision.

The equipment package designated for Reko Diq encompasses:

  • Komatsu 980E-5 ultra-class haul trucks
  • P&H 4100XPC AC electric rope shovels
  • Komatsu PC7000-11 mining excavators
  • Komatsu WE2350-2 electric wheel loaders

Peter Salditt, President of Komatsu Mining Business Division, commented that Barrick is a significant global partner for Komatsu, and they are excited to broaden their relationship to bolster the development of Reko Diq.

Salditt further added that the project’s magnitude and intricacy necessitate dependable, high-performance machinery. He expressed confidence that their ultra-class haul trucks, electric rope shovels, and other mining equipment will satisfy the demands. He looks forward to continued collaboration with Barrick to foster enhanced productivity and innovation in the mining sector.

The Reko Diq initiative is poised to evolve into a world-class copper-gold mine, thereby fostering economic progress within Pakistan.