Barrick and Komatsu reach agreement on $440M equipment contract

Barrick Mining operates the Reko Diq mining joint venture and has finalized an agreement with Komatsu to deliver primary mining equipment to Barrick's Reko Diq copper-gold project in Pakistan starting in 2026. Komatsu will place mining equipment valued at $440 million, marking its first major deployment in the Middle East territory and strengthening its partnership with Barrick.

Komatsu plans to establish Komatsu Pakistan Mining Limited, a dedicated entity that will provide service and technical expertise at Reko Diq. The company will also make additional investments in Komatsu Middle East FZE, its regional headquarters in Dubai, UAE, to support an expanded equipment footprint in the region. These investments equip Barrick with the necessary resources to efficiently operate one of the world’s most significant greenfield mining developments.

Mark Bristow, Barrick’s president and CEO, 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.”

The equipment package for Reko Diq features:

• Komatsu engineers designed and exported the 980E-5 ultra-class haul trucks from Peoria, Illinois, ensuring high efficiency and durability in demanding conditions.

• P&H experts in Milwaukee, Wisconsin engineered and exported the P&H 4100XPC AC electric rope shovels, which deliver electric-powered material movement with exceptional dig forces and payload capacity.

• Komatsu specialists in Dusseldorf, Germany created and shipped the PC7000-11 mining excavators, providing precision, productivity, and advanced intelligent data solutions for optimized performance.

• Innovators in Longview, Texas built and exported the WE2350-2 electric wheel loaders, the largest wheel loader globally, to move high volumes of materials with rapid cycle times.

Barrick and Komatsu have strengthened their collaboration over recent years with successful fleet acquisitions at Barrick’s Lumwana copper mine in Zambia and the Nevada gold mines complex in the United States. In October 2023, both companies formalized their commitment through a global framework agreement, establishing a foundation for deeper cooperation across multiple projects.

Peter Salditt, president of Komatsu mining business division, 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.”

Reko Diq is expected to become a world-class copper-gold mine, contributing to the economic development of Pakistan. Komatsu’s involvement in the project underscores its commitment to supporting customers with a comprehensive suite of mining equipment and solutions to optimize their operations. For more information on Komatsu’s equipment offerings, please visit www.Komatsu.com.