Japanese manufacturer Komatsu announced a $440 million, five-year agreement with Barrick to supply primary mining equipment for the Reko Diq copper-gold project in Pakistan. Deliveries are scheduled to begin in 2026. The agreement covers four equipment types, but does not disclose quantities, unit prices or annual spending. It is an equipment contract—not the mine’s total construction budget—and it does not guarantee that the project will meet its earlier production schedule.
What Komatsu’s $440 million agreement includes
Komatsu announced the agreement on June 24, 2025. The announced value is for the first five years, and deliveries of primary mining equipment are scheduled to start in 2026. The companies did not publish a unit-by-unit breakdown or the number of machines. Komatsu’s announcement identifies the equipment and manufacturing locations:
| Equipment | Manufacturing and export location stated by Komatsu |
|---|---|
| 980E-5 ultra-class haul trucks | Peoria, Illinois |
| P&H 4100XPC AC electric rope shovels | Milwaukee, Wisconsin |
| PC7000-11 mining excavators | Düsseldorf, Germany |
| WE2350-2 electric wheel loaders | Longview, Texas |
Komatsu also said it intended to establish KOMATSU PAKISTAN MINING (SMC-PRIVATE) LIMITED to provide service and technical expertise at Reko Diq, and planned additional investment in Komatsu Middle East FZE in Dubai. The announcement describes these as intentions; it does not establish that the Pakistan entity has since been formed or specify detailed service terms.
Who is involved—and what the contract does not represent
The agreement is between Komatsu and Barrick, which operates the Reko Diq Mining Joint Venture. The project itself is held through Reko Diq Mining Company (Private) Limited (RDMC). Barrick’s technical report, filed in 2026 and describing status as of December 31, 2025, says RDMC is indirectly 50% owned by Barrick and 50% by Pakistani stakeholders. The Pakistani share comprises 10% held by the Government of Balochistan as a free-carried, non-contributing interest, 15% through a government-owned special-purpose company and 25% held by federal Pakistani state-owned enterprises. These are project-company ownership interests, not a division of the Komatsu contract. Barrick’s Reko Diq project information
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Reko Diq is a greenfield copper-gold project in Balochistan planned around two open-pit mines, a processing plant and related infrastructure developed in phases. Its legal history is separate from the equipment deal: Barrick’s technical report says the project was formally reconstituted on December 15, 2022, after a long-running dispute and arbitration process.
The $440 million figure is therefore not the mine’s full development cost, a disclosed fleet price per machine, or evidence that construction is complete. It is the announced value of the equipment agreement over its first five years.
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Will Reko Diq still start production on its previous schedule?
That is not assured. In its latest located project update, dated April 2, 2026, Barrick said it would slow development and continue a project review until mid-2027 amid escalating security concerns. Barrick said the review covers security, capital requirements, financing, project scope and timeline, and that development would remain actively managed with reduced capital spending. It also warned that costs and timing could increase. Barrick’s April 2, 2026 update
Barrick cited previously disclosed capital estimates of $5.6 billion to $6.0 billion for Phase 1 and $3.3 billion to $3.6 billion for Phase 2. Both figures are on a 100% project basis and exclude capitalization of financing costs; Barrick said the estimates could rise. The company had previously targeted first production by the end of 2028, but that was a prior target, not a confirmed current schedule. The April 2026 update set a review horizon of mid-2027; it does not confirm the review’s eventual outcome.
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Why the project matters beyond the equipment order
The project is a major proposed mine in Balochistan, but its environmental and social implications are part of the picture. The International Finance Corporation describes the planned operation as a greenfield open-pit mine producing copper-gold concentrate and identifies risks involving labor, air emissions, tailings management, community health and safety, and biodiversity. IFC classifies it as Category A under its environmental and social policy. IFC project disclosure
Barrick president and CEO Mark Bristow described the contract as part of the company’s long-term vision, saying in Komatsu’s June 24, 2025 announcement: “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.” That is Barrick’s stated view, not an independent assessment of the project’s eventual economic or social outcomes.
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