Under the contract Komatsu will become the preferred supplier of haul trucks for all of Rio Tinto's worldwide mining operations. The terms of the contract are said to be based on life cycle costs and an ongoing strategy that promotes a collaborative approach to optimising equipment design and deployment.
Komatsu said the alliance would redefine the way mining companies and suppliers work together to optimise asset management in a cyclical industry.
Equipment, including excavators and dozers, will be produced at plants in Japan, Germany and North America.
Last May Komtasu was awarded a five-year agreement with BHP Billiton for earthmoving and mining equipment.
BHP Billiton has another deal with Caterpillar worth US$1.5 billion to supply mining equipment.