Australian asset management and digital transformation company COSOL Ltd has signed a major contract to deliver Asset Management Services to Ok Tedi Mining Ltd, owner of one of the world’s biggest copper-and gold mines, located in Papua New Guinea. The contract has a value of A$17 million and will run for three years.

This contract extends and deepens the existing relationship, which has spanned almost two decades, delivering operational efficiencies and cost savings. Under the contract, COSOL will deliver comprehensive, end-to-end Asset Management Services, leveraging the combination of COSOL’s proprietary software and services.

COSOL says it will generate major operational efficiencies, material cost savings, and assist the company in its drive to achieve zero waste in its operations and supply chains. CEO Scott McGowan said: “COSOL is delighted to solidify the long-term relationship and it is pleasing that we have again been entrusted by a leading asset intensive business to continue providing crucial asset management software and services to a global scale mining operation.”

COSOL describes itself as a global Enterprise Asset Management technology-enabled solution provider that optimises operations in asset- intensive industries such as natural resources, energy and water utilities, public infrastructure and defence. “COSOL continuously invests in its ecosystem of software and services to help large-scale asset owners get more from their networks and to capture quantifiable business improvements measured in sustainability, efficiencies and profitability.”