Komatsu finalizes $440M deal for Pakistan mining project
Deal marks Komatsu's first major mining equipment transaction in Middle East
Japanese OEM Komatsu has finalized a deal to sell $440 million of mining equipment to Barrick Mining Corp. for its Reko Diq copper-gold project in Pakistan.
The five-year deal marks Komatsu’s first major mining equipment deployment in the Middle East and further cements the partnership between the two companies, according to a June 25 Komatsu release. Reko Diq is considered one of the world’s largest undeveloped copper-gold deposits.
As part of the agreement, Komatsu will form a new Pakistan-based entity, Komatsu Pakistan Mining, to provide on-site service and technical support. Additional investments will be made in Komatsu’s regional headquarters in Dubai to accommodate the expanded footprint.
The equipment package includes Komatsu 980E-5 haul trucks, P&H 4100XPC AC electric rope shovels, PC7000-11 excavators and WE2350-2 electric wheel loaders.
The collaboration follows previous joint efforts between Barrick and Komatsu, including the Lumwana copper mine in Zambia and Nevada Gold Mines in the U.S. A global framework agreement was signed by the two companies in 2023 to formalize and expand their cooperation.
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