K2fly has announced two new RCubed Resource Governance SaaS contracts with two very different mining companies – Toronto and New York-listed gold mining major Kinross and industrial minerals giant Sibelco, the privately-owned global silica sand miner and processor.

Kinross has signed a five year RCubed Resource Governance SaaS contract to roll out the solution to eight operating mines globally. Founded in 1993, Kinross Gold is a gold mining company with a diverse portfolio of mines and projects in the United States, Brazil, Chile, Ghana, Mauritania, and Russia. Headquartered in Toronto, Canada, Kinross Gold employs approximately 9,000 people worldwide.

Nic Pollock, K2fly’s Chief Commercial Officer, said that: “We are delighted to be working with Kinross Gold, another top 10 gold mining major. What is especially pleasing for K2fly is that this is the first contract driven out of our US operation which was only established in mid-January 2020 to support our growing North American customer base which now includes Teck Resources, Glencore Canada and Newmont. That’s a very quick validation of the investment into the region. Not only that but we now have five of the top ten gold miners by ounces (Newmont, Anglo Gold Ashanti, Newcrest, Gold Fields and now Kinross Gold) using RCubed to report their mineral inventories.”

Elsewhere, K2fly has also announce that Belgium-headquartered SCR-Sibelco NV has signed a three year RCubed Resource Governance SaaS contract to roll out to 60 sites globally. Sibelco is a  global material solutions company founded in 1872 and operating in 174 production sites in more than 30 countries with a team of over 8,500 people. It is primarily known for its globally leading position in the mining and processing of silica sand, but it also has interests in a number of other non-metallic minerals extraction and processing operations including mineral sands, clays, calcium carbonate, high purity quartz, talc, nepheline syenite and others.

K2fly’s Pollock stated: “We are delighted to be working with our second industrial minerals customer in Western Europe. What is especially pleasing is that as a private company Sibelco’s motivations are not regulatory driven, but by business improvement and improved governance.”

The company said that while the annual contract value is not material in this instance it demonstrates continued demand for K2fly’s SaaS solutions during challenging macro-economic conditions and “further validates our position in the industrial minerals sector.”

K2fly’s Total Contract Value (TCV) for its own SaaS solutions (RCubed and Infoscope) has now risen to more than A$6 million as the contract terms extend. This trend is expected to continue with further multi-year contractual negotiations still in the pipeline.