Komatsu mining fleet secured for project start

Santana Minerals Ltd
Level 1, 371 Queen St
Brisbane, QLD 4000
ABN 37 161 946 989
GPO Box 1305
Brisbane, QLD4000

T: +61 7 3221 7501



31 March 2026

Komatsu mining fleet secured for project start
Build slots for the Bendigo-Ophir Gold Project mining fleet have been secured with Komatsu New
Zealand Ltd, ensuring delivery of key mobile equipment for construction start, pending the Fast-track
Approval (FTA) decision due on 29 October 2026.
After a thorough evaluation of mining equipment which included electric and hybrid units, the core
fleet from Komatsu has now been confirmed. Conventional PC3400 and PC2000 primary excavators
together with a fleet of 140t class HD1500 haul trucks have been selected as part of a leasing proposal
underpinned by Komatsu OEM-finance. Equipment required for support and ancillary tasks, including
dozers, loaders and graders, will also be supplied by Komatsu.

In addition to equipment supply, Komatsu has committed to a comprehensive long-term support
partnership, providing operational, technical and financial backing to underpin fleet performance and
reliability at the Project.
Key elements of the commitment include:
• A Komatsu fleet of NZD$115M consisting of excavators, haul trucks, dozers, loaders and
graders.
• Long-term (5-year) on-site technical support, including dedicated personnel and extended
product support over the life of the mining fleet.

Announcement
ASX:SMI
NZX:SMI


PC3400

PC2000

HD1500

2

• Integrated maintenance and parts support, including establishment of on-site parts capability
and discount pricing arrangements.
• Technology and systems support, including fleet management, condition monitoring and
performance systems.
• Productivity and simulator training initiatives, supporting efficient ramp-up and sustained
operational performance.
This level of support reflects Komatsu’s strong alignment with the Project and its commitment to
delivering a high-performance, low-cost mining operation.
CEO, Damian Spring commented:
“Operating as an owner-miner removes the contractor margin typically embedded in mining costs,
setting us up as a lower-cost operation.
This is further supported by our residential workforce model, avoiding fly-in fly-out costs, and strong
OEM support from Komatsu. Grid-connected processing infrastructure also provides stability across key
cost drivers over the life of mine.”
This announcement has been authorised for release by the Board.
Enquiries:

Damian Spring
Exec. Director & CEO
dspring@santanaminerals.com
Sam Smith
Exec. Director & CDO
ssmith@santanaminerals.com