Tag Archives: resource governance

Anglo American joins K2fly’s resource governance and disclosure club

K2fly Limited says it will roll out its Resource Disclosure mineral resource governance solution across all Anglo American commodities and operating regions as part of a three-year agreement set to generate a total contract value of A$1.44 million ($974,779).

K2fly Resource Disclosure, a mineral inventory data and reporting solution, is an off-the-shelf cloud-based platform that allows companies to accurately adhere to mine-to-mill reporting
requirements for all stock exchanges, according to K2fly.

The solution enables clients to capture the raw resource and reserve data and report to multiple stock exchanges (including the ASX, NYSE, LSX, TSX and JSE) and reporting codes (JORC, NI-43 101, SK-1300, SAMREC, etc) to remain compliant, according to the ASX-listed company.

Nic Pollock, CEO of K2fly, said: “This is our first major contract with Anglo American. We are pleased to collaborate with Anglo American to deliver our next generation cloud-first resource governance platform.

“Anglo American join a distinguished group of 18 global clients, including Rio Tinto, Newmont and South32, that have moved to the world’s only commercial off-the-shelf solution for mineral resource governance and disclosure.”

K2fly and ArcelorMittal Mining UK agree on resource governance pact

K2fly Limited says ArcelorMittal Mining UK has selected K2fly’s Resource Disclosure and Model Manager solutions, within its Mineral Resource Governance solution area, to support the wider ArcelorMittal group’s reporting obligations as a publicly listed company reporting under US SEC S-K 1300 guidelines.

The five-year agreement with K2fly will generate a total contract value of A$1.9 million ($1.3 million) and represents the first joint sale of K2fly’s Resource Disclosure solution coupled with Model Manager.

Resource Disclosure enables clients to capture the raw resource and reserve data and report to multiple stock exchanges to remain compliant, while Model Manager helps improve governance over resource and reserve data, including meshes, wireframes, triangulations and models, according to K2fly.

The two solutions are set to be used across all 10 mining regions within the ArcelorMittal group, including in Canada, Africa and elsewhere.

Nic Pollock, CEO of K2fly, said: “We are delighted to be able to announce our first contract with ArcelorMittal (Mining UK). We are also thrilled that this is the first joint sale of our K2fly Resource Disclosure Solution coupled with Model Manager. This realises the vision driving the acquisition of Sateva which brought us Model Manager, a very natural fit with our Resource Reporting solution.

“This combination offers our customers a deeper governance and transparency solution and efficiencies around block model management on an enterprise-wide basis. This combination is one of the holy grails of the mining industry, linking the model management and resource disclosure systems.”

In addition to the ArcelorMittal contract win, K2fly recently reported that Mineral Resources Ltd had signed up to use Model Manager and Ore Blocker – a technical assurance module – as part of a three-year contract. This will see the solutions used across MinRes’ iron ore and lithium operations across Australia.

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.”

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.”

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.”