K2fly says it has signed a contract with Rio Tinto that will see the mining major implement the RCubed Mineral Resource and Reserve solution across 20 sites globally.
Implementation will commence immediately, with the total contract value, including initial implementation costs, estimated to be A$1.45 million ($985,675).
The RCubed solution will replace an inhouse system and will assist Rio Tinto in providing mineral resources and ore reserves reporting and governance for its shareholders and regulators, according to K2fly.
RCubed software, K2fly says, generates resource and reserve reports that support reporting codes such as JORC, NI-43-101 and SAMREC across the major stock exchanges – including NYSE, LSE, TSX, ASX and JSE. It assists mining and resource companies in complying with their regulatory reporting obligations.
Nic Pollock, K2fly Chief Commercial Officer, said: “Rio Tinto’s signing represents a significant milestone for K2fly and is further recognition from a Tier 1 miner that our RCubed solution represents the most compelling offering in resource governance solutions. We are extremely proud to be working with such an industry leader.”