Tag Archives: K2fly

K2fly to deploy Ground Disturbance Solution across BHP WA iron ore sites

K2fly has announced that BHP Iron Ore has signed an initial one-year contract to deploy K2fly’s Ground Disturbance Solution over its entire iron ore operations in the Pilbara of Western Australia.

The agreement with K2fly will generate annual recurring revenue of A$620,000 ($432,151), according to the provider of resource governance solutions.

BHP’s Western Australia Iron Ore (WAIO) is an integrated system of four processing hubs and five mines, connected by more than 1,000 km of rail infrastructure and port facilities in the Pilbara region of northern Western Australia. It produces over 245 Mt/y of iron ore, making it one of the top five producers of iron ore globally.

Sitting within K2fly’s Natural Resource Governance area, K2fly Ground Disturbance solution is a cloud-based Software as a Service platform for applying, approving, tracking, reporting and submitting closure of permits and rehabilitation commitments surrounding ground disturbance activities, K2fly explained.

“K2fly’s Ground Disturbance Solution is the only commercial off-the-shelf (COTS) solution available in the market today and is transforming the way resource and infrastructure landowners manage and govern their land assets, enabled by delivering spatial first visibility, speed and efficiency in understanding and decision making, and collaboration for the users across the spectrum of land management,” it said.

The agreement with BHP means K2fly now provides the ground disturbance solution for the three biggest iron ore producers in Western Australia: Rio Tinto, BHP and Fortescue Metals Group.

Nic Pollock, CEO of K2fly, said: “We are delighted to be starting our relationship with BHP, who will join many other Tier 1 global mining companies as a valued client of K2fly. Our Ground Disturbance Solution is the only system which helps provide better transparency and governance whilst avoiding damaging the environment or protecting cultural heritage and ensuring all stakeholder engagement and obligations are met.

“Because of recent events in the Pilbara, the world’s attention is very much focused on how mining companies ensure that they better protect the environment, cultural heritage sites and engage with communities. This is a global trend and because K2fly offers the world’s only COTS solution for the range of natural resource governance and ESG issues that mining companies are addressing today, we are expecting this solution to become standard across many mining companies and across all jurisdictions.”

Maptek invests in ESG-focused K2fly

Maptek has announced a strategic investment in Western Australian-based K2fly, a leading provider of resource governance solutions for net positive impact in Environmental, Social and Governance (ESG) compliance, disclosure and technical assurance, it said.

K2fly solutions aim to improve the transparency, sustainability and performance across a range of measures such as governance, environmental and community engagement through its platform-based SaaS cloud reporting solutions, Maptek says.

As part of the investment Maptek Chairman, Peter Johnson, will join the K2fly board as a Non-Executive Director.

“Maptek is very pleased with the opportunity to become a strategic investor in K2fly,” Johnson said. “We have a long and successful history of delivering technical solutions that increase the accuracy, safety and efficiency of decision-making for miners.

“K2fly solutions complement our approach, enabling our customers to interact with all stakeholders including local communities, traditional owners, the investment community, regulators and the environment in an improved fashion.

 “They do this by leveraging technology to ensure the ESG and reporting expectations of the community are met, as well as providing a sustainable platform for enhancement.

K2fly is the leader in the field of creating and delivering the technology solutions to enable that, and sharing our expertise is the ideal way for Maptek to support that effort.”

Jenny Cutri, Non-Executive Chair of K2fly, welcomed Maptek as a strategic investor in K2fly and Johnson to the K2fly Board.

“The investment by Maptek makes it K2fly’s largest investor and represents a significant validation of the K2fly business and growth outlook by the world’s largest privately held mining software business,” Cutri said.

“On behalf of K2fly and the Board, we very much look forward to working with Peter and Maptek as we continue to grow the K2fly business.

”Peter’s wealth of knowledge in applying and scaling innovative technological solutions in the mining sector into sustainable and profitable businesses will be invaluable to K2fly. Further, our solutions are adjacent and there are many opportunities for collaboration.”

Rio Tinto to roll out K2fly’s Ground Disturbance solution across Pilbara ops

K2fly Ltd says Rio Tinto has signed a five-year contract for its Ground Disturbance solution, with the miner planning to roll it out across its iron ore operations in the Pilbara of Western Australia.

The contract will generate annual recurring revenue of A$620,000 ($450,676) over the initial five-year term, the ASX-listed company says.

The addition of Ground Disturbance expands the number of K2fly solutions used by Rio Tinto to five out of K2fly’s nine existing solutions which already include: Resource Inventory & Reconciliation, Dams & Tailings, Community & Heritage and Mine Geology Data Management, K2fly says.

K2fly says its Ground Disturbance solution provides a single source for applying, approving, tracking, reporting and submitting closure of permits and rehabilitation commitments surrounding ground disturbance activities.

Nic Pollock, CEO of K2fly, says: “We are delighted to continue to expand our relationship with Rio Tinto into ground disturbance. Effective ground disturbance systems are the glue for operations that want to ensure technical assurance around land management, maintain licence to operate and ensure high environmental, social and governance (ESG) standards. We are pleased to be working closely with Rio Tinto across a number of key ESG solutions globally.”

Newmont to continue use of K2fly’s RCubed Resource Governance Solution

K2fly Ltd has announced that Newmont has signed a five-year extension to its existing contract for K2fly’s Resource Governance Software as a Service (SaaS) solution.

The extension agreement has a total contract value (TCV) of A$1.3 million ($951,289) and builds on the initial three-year agreement signed in March 2020, which came with a TCV of A$900,000. The agreement will extend the contract period to March 2028.

Newmont will continue to use K2fly’s RCubed Resource Governance Solution across 12 operating mines as well as joint ventures and projects across global operations as part of the agreement, K2fly says.

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, Chief Executive Officer of K2fly, said: “This extension of our original agreement from March 2020 with the world’s leading gold company reaffirms the importance of K2fly’s solutions in helping large resources organisations with their ESG reporting and aligns with Newmont’s purpose to create value and improve lives through sustainable and responsible mining.”

Decipher and K2fly team up for new tailings storage facility platform

Decipher, a Perth-based cloud monitoring platform for tailing storage facilities (TSFs), has partnered with K2fly, a global provider of technical assurance solutions for the resources industry, to evaluate an integrated monitoring and governance platform for tailings.

Tailing storage facility failures, in which there is an uncontrolled release of water, waste material or by-product, constitute a significant risk for industry, regulators and the environment. Industry best practice and legislation is requiring that an Independent Technical Review Board be assigned for each TSF to ensure proper governance and compliance, according to Decipher.

Decipher and K2Fly have come together to combine their complementary technology strengths to create a solution to help mining and resources companies in monitoring and governance of these risks, Decipher says.

Anthony Walker, Decipher Chief Executive Officer, said the resources industry is now looking for a solution that is cost effective, comprehensive and accessible.

“A recent report by KPMG identifies tailings management as one of the top 10 risks in 2020 to the global mining industry,” Walker said. “This is confirmation of the need for a timely solution which, together, Decipher and K2fly can provide.”

K2fly’s Chief Commercial Officer, Nic Pollock, said the proposed solution will ensure industry has access to a significantly better tool to aid monitoring and governance of TSFs to recognised standards.

“Our solution reflects best practice and will support compliance with the Global Industry Standard on Tailings Management recently endorsed by the International Council on Mining and Metals (ICMM), and other Global Tailings Review convenors, as well as standards set by national regulatory bodies,” Pollock said.

Decipher and K2fly have commenced discussions with several global miners about the proposed tailings management solution, which can also be deployed remotely during COVID-19.

There are an estimated 3,500 active TSFs globally, covering around 1 Mha of land, Decipher, a Wesfarmers company, said.

K2fly gets to work on RCubed mineral inventory reporting solution for South32

K2fly has signed up diversified mining and metals company, South32, to use its resource governance solution, RCubed.

South32 is expected to use the platform for its mineral inventory reporting for five years, with the total contract value more than A$880,000 ($608,419), K2fly said.

The full implementation is to commence immediately and will cover 19 global operations, the company added.

Nic Pollock, K2fly’s Chief Commercial Officer, said: “It is a great honour to be working with South32. This adds to our growing list of diversified customers like Rio Tinto, Teck Resources and Nexa Resources.”

The company says its total contract value has growth 45% this quarter and is now over A$6.9 million, compared with the end of the March quarter.

K2Fly wins RCubed contract extension with AngloGold Ashanti

K2fly is to keep running the reserve and resource numbers for AngloGold Ashanti after the Johannesburg-based gold miner signed up for another three years of the RCubed Resource Governance solution.

AGA, the third largest gold mining company in the world measured by production, was pivotal in the development of RCubed, according to K2Fly, with the gold miner’s New York listing being the inspiration behind the product.

Nic Pollock, K2fly Chief Commercial Officer, said: “AngloGold Ashanti was instrumental in the creation of the RCubed solution and is one of the few global mining companies that delivers a dedicated mineral resources and ore reserves report. The report is created entirely from within the RCubed Resource Governance solution, from data collection through to publishing ensuring full resource governance, security and the integrity of the data.”

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, according to the company.

The gold sector is performing extremely well for K2fly and RCubed sales with four of the top 10 global gold mining companies now using or implementing RCubed to report their resources and ore reserves, the company said. Only last week, the company signed up Newmont as a new RCubed customer.

K2fly’s total contract value for its own software solutions (RCubed and Infoscope) has risen by a further 41% in the March quarter to more than A$4.7 million as the contract terms extend, the company said. “This trend is expected to continue with further multi-year contractual negotiations in the pipeline.”

K2fly to run the resource, reserve numbers for Newmont

K2fly Limited says it has been awarded a contract from Newmont to commence work on implementation of the RCubed Resource Governance solution for its global operations.

This will see the solution capture and prepare resources and reserves data to report from all 12 operating mines as well as joint ventures and projects across global operations to the NYSE, TSX and investors, according to K2fly.

The initial contract term is three years, which amounts to a total contract value in excess of A$900,000 ($580,908), the company said.

Nic Pollock, K2fly Chief Commercial Officer, said: “We are so proud to have Newmont as a customer as clearly they are the biggest gold miner in the world. However, we also share the same values on social and corporate responsibility.

“Our gold resource reporting template is increasingly becoming the industry standard, and we can now proudly lay claim to our RCubed Resource Governance solution being used by four of the top 10 gold miners globally: Newmont, Anglo Gold Ashanti, Newcrest and Gold Fields.”

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, according to the company.

Reporting on the ASX-listed company’s attendance at the recent PDAC 2020 conference in Toronto, Canada, meanwhile, K2fly said its presence at the event generated interest from a number of entities in the resources sector and proposal requests from a further three “leading gold mining companies”.

Westgold and K2fly to collaborate on Infoscape software developments

K2fly says Westgold Resources has agreed to a new long-term contract to use its existing Infoscope software and partner with K2fly to develop additional enhancements to the software with a view to integrating its tenement and title’s management applications.

Additional overlays of the software include royalties, contracts, permits, licensing, and environmental and stakeholder management to provide a consolidated management tool.

InfoScope provides a single, spatially integrated solution to manage information relating to land access and compliance across multiple industries, according to K2fly. It delivers effective stakeholder, tenement, cultural heritage, native title and environmental management along with a full life-cycle ground disturbance process.

Westgold operates three gold production hubs in the Murchison Region of Western Australia, according to K2fly.

“Known as one of the largest regional consolidations within the gold sector, the group manages over 350 titles and a complex web of resources, road and infrastructure networks, licences, permits, service contracts and stakeholder engagements,” the company added.

Westgold’s Executive Chairman, Peter Cook, said: “We have long been looking for a land management system that expands beyond the traditional mining title area and enables us to integrate the multitude of layers associated and attached to our titles to an interactive and linked solution. Our industry needs a solution that enables us to operate faster and more efficiently in these areas.”

Nic Pollock, K2fly Chief Commercial Officer, said Westgold was “more than a customer”.

“They are actively partnering with K2fly and contributing to the further development of our land management solutions in a very meaningful way, assisting us to improve and expand our market offering.”

Rio Tinto looks to K2fly’s RCubed solution for resource governance

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.”