With two consecutive years of record-breaking sales, what expectations does Komatsu-Mitsui hold for 2024?

2023 presented initial challenges with events in Las Bambas, Antapaccay, and the southern corridor affecting mining customers and also our company. Despite these hurdles, we successfully secured a deal with Antamina, supplying them with 20 980E-5SE trucks and potentially expanding to 100 trucks over the next five years. We integrated Komatsu Mining Corp Peru (KMCP) with Komatsu-Mitsui, anticipating enhanced collaboration as a single legal entity in 2024. We achieved record-breaking sales of US$650 million, marking a second consecutive year of success and KMCP also achieved outstanding sales of US$180 million. 

In 2024, we aim to surpass the US$900 million mark in sales working together, reaffirming our status as an integrated company. 

What is the current scenario for the Peruvian mining industry?

Uncertainty persists in a Peruvian mining market marked by the absence of new greenfield projects, but the energy transition and mineral demand drive brownfield expansions. Key clients such as Cerro Verde, Southern Peru, and Las Bambas focus on increasing production and exploring new technologies. The current mining landscape is defining its future, addressing decarbonization goals, and meeting the global aim of carbon neutrality by 2050. Conversations once centered around production and costs now encompass energy transition, fleet automation, and digitization, highlighting significant challenges for the Peruvian and global mining industry.

What distinctive features render the 980-5SE an optimal choice for the mining industry?

With its 4,400 HP Cummins engine, this truck guarantees optimal speed on steep terrains in deep pit applications. This efficiency translates to heightened productivity and a substantial reduction in emissions, which is particularly beneficial for clients with deep pits and extended ramp times in mining operations across Peru and Chile. These trucks deliver exceptional performance and are also designed for adaptability to autonomy and trolley systems, tailored to the geographical conditions of mining operations in both regions

Can you provide examples of specific solutions or initiatives that Komatsu is exploring in the transition to fully electric trucks?

The transition to electromobility is unfolding in phases, commencing with the shift toward fully electric trucks. The Komatsu truck, currently being tested in Tucson, marks a significant step forward by converting diesel energy to electric power by substituting the diesel engine with an electric battery pack. However, the challenge of charging these electric trucks necessitates adapting the trolley system. We have a fully electric truck operational with this charging system, and we are assessing its performance in terms of power and productivity. 

Energy management is another key challenge, as sustainable mining requires green sources. This raises questions about the availability of green energy at a national level.

Can you provide more details on the nature of General Motors’ partnership and how it contributes to Komatsu's goal of implementing hydrogen cells in the future?

We envision hydrogen cells as a future energy alternative, foreseeing their full implementation in approximately five to six years. Tackling the challenge of transforming the energy matrix, Komatsu is engaging in strategic agreements, including collaborations with General Motors among others for hydrogen cell development. The long-term viability of both technologies hinges crucially on the supply of green hydrogen, inherently linked to the availability of green energy for its production. Our goal is to introduce a hydrogen-based truck by 2030, targeting mines equipped with this specific energy source.

How is Komatsu focusing on automation and other solutions for the industry?

The autonomous solution is not new at Komatsu, since its first fleet dates back to 2007. However, in its continuous search for innovation, Komatsu continues to take significant steps in terms of autonomy by also including auxiliary equipment with the capacity from the factory to interact with these systems. A strategic collaboration with Toyota stands out there. This agreement covers the comprehensive design of pick-up trucks with systems so that they can operate efficiently within an autonomous mining environment.
As Komatsu-Mitsui, we actively pursue strategic partnerships, exemplified by our collaboration with Ceibo to tackle the environmental challenge of dust in mining. This proven solution, initially tested in Chile, is currently under evaluation in Peru.