Barrick Mining and Komatsu have wrapped up terms of the Japanese equipment manufacturer’s first major Middle East supply deal.
Barrick CEO Mark Bristow said the company’s US$440 million machine order and partnership was “an important part of [the] vision” the gold-copper miner had for the $6 billion Reko Diq project in Pakistan.
The Komatsu contract would start next year and extend over five years.
Reko Diq’s phase-one development is waiting on circa-$3 billion of limited recourse project financing.
Komatsu will supply ultra-class haul trucks, 4100XPC AC electric rope shovels, PC7000-11 mining excavators and WE2350-2 electric wheel loaders. It plans to establish a new entity, Komatsu Pakistan Mining, to support Reko Diq as well as beefing up its Dubai regional base.
“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,” Komatsu mining business division president Peter Salditt said.
Barrick has been progressively introducing more Komatsu ultra-class mine trucks and large Komatsu diggers as it expands its Lumwana copper mine in Zambia and in 2023 Barrick-run Nevada Gold Mines ordered more than 60 Komatsu ultra-class haul trucks.
