The bomb, planted along the road near Karamkot in Mirali district of North Waziristan, was detonated when the security forces convoy was travelling from Miramshah to Mirali.
Two soldiers were killed on the spot whereas five others were injured. The injured persons were taken to Miramshah Hospital and later shifted to Bannu.
Following the attack, security forces personnel cordoned off the area and a search operation was ordered.
North Waziristan is one of the seven regions in Pakistan's Federally Administered Tribal Areas that is governed by tribal laws.
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