Barrick, Komatsu sign $440 million equipment deal for Pakistan’s Reko Diq copper-gold mine

The picture shared by Barrick Gold Corporation on July 18, 2022, shows Reko Diq, one of the world’s largest undeveloped copper and gold deposits, located in Pakistan’s mineral-rich Balochistan province. (Barrick Gold Corporation)
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Updated 25 June 2025
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Barrick, Komatsu sign $440 million equipment deal for Pakistan’s Reko Diq copper-gold mine

  • Japanese firm to set up local mining company for long-term technical support at site
  • Deal includes ultra-class haul trucks, excavators and loaders built in US and Europe

ISLAMABAD: Barrick Gold Corporation and Japan’s Komatsu have finalized a $440 million agreement to supply mining equipment to Pakistan’s Reko Diq copper-gold project, with Komatsu also announcing plans to establish a local subsidiary to support operations, the company said on Wednesday.

Reko Diq is one of the world’s largest undeveloped copper and gold deposits, located in Pakistan’s mineral-rich Balochistan province near the volatile border with Iran and Afghanistan. The site is expected to play a key role in boosting Pakistan’s exports, attracting foreign investment, and supporting the country’s long-term energy and industrial needs through its vast copper reserves, which are critical for the global energy transition.

Reko Diq is jointly owned by Barrick (50 percent), Pakistan’s federal government (25 percent), and the Balochistan provincial government (25 percent). Construction is scheduled to begin in 2025, with first production targeted for 2028.

“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,” Mark Bristow, President and CEO of Barrick, was quoted as saying in the Komatsu statement. 

“Komatsu equipment has proven its performance and reliability at our operations worldwide.”

Komatsu said the five-year deal marked its first major equipment placement in Pakistan and a deepening partnership with Barrick.

To support the deployment, Komatsu will establish Komatsu Pakistan Mining (SMC-Private) Limited, a dedicated entity for technical services and equipment support at Reko Diq. The firm also plans additional investment in its regional headquarters in Dubai to manage an expanded footprint in the region.

The deal includes the delivery of ultra-class mining equipment manufactured in the United States and Europe, including Komatsu 980E-5 haul trucks from Illinois, P&H electric rope shovels from Wisconsin, PC7000-11 excavators from Germany, and WE2350-2 electric wheel loaders from Texas.

“The scale and complexity of this project demands proven, high-performance equipment,” said Peter Salditt, President of Komatsu’s Mining Business Division.

“We are confident our ultra-class haul trucks, electric rope shovels, and other mining machines will meet the challenge.”

Komatsu said the partnership builds on previous equipment deployments at Barrick’s Lumwana mine in Zambia and its Nevada Gold Mines joint venture in the United States. The two companies signed a global framework agreement in October 2023 to strengthen cooperation across multiple sites.


Pakistan opposition ends protests, PTI forms ‘Imran Khan Release Force’ for jailed ex-PM

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Pakistan opposition ends protests, PTI forms ‘Imran Khan Release Force’ for jailed ex-PM

  • Opposition alliance ends week-long protests over Khan’s health concerns
  • Party announces nationwide membership drive for “peaceful” mobilization

ISLAMABAD: A Pakistani opposition alliance on Wednesday called off nationwide sit-ins held over jailed former prime minister Imran Khan’s health, while his Pakistan Tehreek-e-Insaf (PTI) party announced a new mobilization campaign, including the formation of an “Imran Khan Release Force.”

Pakistan has faced months of political confrontation between Khan’s party and the government since his arrest in 2023, with repeated protests, court battles and accusations by PTI that authorities are attempting to sideline its leader from politics, allegations the government denies.

Tensions have intensified in recent weeks after concerns emerged about Khan’s health in prison. Khan’s lawyer told Pakistan’s Supreme Court last week that the ex-cricketer had lost significant vision in his right eye while in custody, while a medical board said the swelling had reduced after treatment and his vision had improved. Since last week, the Tehreek-i-Tahafuz-i-Ayin-i-Pakistan (TTAP) opposition alliance has been holding a days-long sit-in at Parliament House over Khan’s health concerns.

“All sit-ins including the one at parliament have been called off,” Hussain Ahmad Yousafzai, a spokesperson for the alliance, told Arab News.

Separately, Khyber Pakhtunkhwa Chief Minister Muhammad Sohail Afridi told reporters the party was preparing for an organized political movement to demand their leader’s release.

“After continuous violations of court orders, an organized public struggle has now become inevitable,” Afridi said, announcing the creation of an “Imran Khan Release Force,” with membership open to youth across the country.

Afridi said the organization would include PTI’s student, youth, women, minority and professional wings and would conduct a “completely peaceful struggle,” adding that Khan himself would dissolve the body after his release.

He said membership cards would be issued within days and supporters would take oath in Peshawar after Eid, with a formal chain of command operating under leadership designated by Khan.

“This struggle is for real freedom, supremacy of the constitution and law, democracy and free media,” Afridi said.

Imran Khan, 73, a former cricket star who served as prime minister from 2018 to 2022, was removed from office in a parliamentary vote of no confidence that he says was orchestrated by political rivals with backing from the military. Both the government and armed forces deny the allegation.

Khan has been jailed since August 2023 after convictions he and his Pakistan Tehreek-e-Insaf party call politically motivated.

Broadcast outlets have been restricted from airing Khan’s name and speeches or even showing his image. Only a single court photograph has been publicly available since his imprisonment.

PTI swept to power in 2018 and retains a large support base across key provinces.