Metso has signed a comprehensive frame agreement with Reko Diq Mining for key process equipment deliveries to the company’s greenfield copper-gold project in the province of Balochistan in Pakistan. Reko Diq is one of the largest undeveloped copper-gold deposits in the world.
The gross value of the various Metso equipment packages under the framework agreement is EUR 200 million. The value of the first orders, consisting of crushing and grinding equipment, is close to EUR 100 million in total, and they are booked in the Minerals segment’s 2024 third-quarter order intake.
Metso’s scope of delivery for the crushing and grinding circuits includes Superior TM 6089 MKIII Gyratory Crushers and Nordberg MP1250 Cone crushers as well as PremierTM ball mills with 51MW installed power, equipped with gearless mill drive technology and Metso's failsafe Polymer Hydrostatic Shoe Bearing systems, significantly increasing reliability and reducing maintenance costs. The mills will be equipped with Metso’s metallic mill linings.
Orders for the TankCell® mechanical flotation cells and high-intensity Concorde CellTM units, HRT thickeners, Vertimill® and HIGmillTM regrind mills, mill reline equipment, concentrate filters and automation equipment included in the frame agreement are expected to be signed and booked in the Minerals segment’s order intake later in 2024 and 2025.
“Reko Diq will substantially expand Barrick’s strategically significant copper and gold portfolios and benefit all its Pakistani stakeholders for generations to come. We are pleased to partner with Metso in this project where sustainable concentrate processing is one of the key drivers for plant design and operation,” said Mark Bristow, Barrick President and CEO.
”We are excited to work as a strategic partner with Reko Diq Mining in this major greenfield project which will ramp up global copper production required for energy transition. Metso will provide Reko Diq with advanced and sustainable technology for the production of copper and gold concentrates,” says Markku Teräsvasara, President of the Minerals business area and Deputy CEO of Metso.
It is anticipated that Reko Diq will have a mine life of approximately 40 years as a truck-and-shovel open pit operation, with construction expected in two phases and providing a combined processing capacity of circa 90 million tons per annum. The first production is targeted for 2028.
One of the largest undeveloped copper-gold projects in the world, Reko Diq is owned 50% by Barrick, 25% by three federal state-owned enterprises, 25% by the Government of Balochistan of which 15% is on a fully funded basis and 10% is on a free carried basis.
Reko Diq is nestled in the Chagai district of Balochistan, the largest district by area, with close proximity to the Afghanistan and Iran borders. The district is characterized by arid and semi-arid terrain with vast deserts, mountain ranges, and sparse vegetation.