K2fly Ltd has announced that major miner groups Vale and South32 have signed initial purchase orders to immediately commence work on proof of concept designs for the RCubed Resource Governance solution. It comes only a month after Gold Fields Australia on behalf of Gold Fields Ltd signed a new five year SaaS contract to implement the RCubed Resource Governance solution across its global operations and major projects. There is now a high level of interest from NYSE-listed companies due to US SEC regulation changes to come into effect in 2021.
While the Vale and South32 initial purchase order amounts are not material, K2fly says “the request for proof of concept designs by South32 and Vale demonstrates the continued interest by major mining entities and the need for a software solution to support mining entities’ mineral resource and reserve reporting. The RCubed Resource Governance software successfully providesthe solution to this problem.”
In January, Nic Pollock, K2fly Chief Commercial Officer said: “Gold Fields is a globally recognised gold mining brand. Gold Fields share the same values as K2fly in striving for sustainable mining. They are also world renowned amongst peers for the quality of their mineral resource and reserve reporting. For them to join the growing list of customers taking up the RCubed Resource Governance solution is a real validation of the importanceof this solution to all miners.”