Mining software supplier K2fly has secured a three-year deal worth more than $1 million with British-based multinational Anglo American.
The new client, one of the world’s biggest miners, has signed up for K2fly’s Resource Disclosure solution– one of the Subiaco-based company’s ESG software products.
The total contract value is $1.44 million, including an annual recurring revenue component of $375,000 and implementation fees of $315,000.
K2fly’s focus is on the operations of mining and other asset-intensive industries through its platform-based software-as-a-service, or “SaaS” cloud solutions.
Resource Disclosure meets mineral resource public reporting requirements so companies remain compliant. It is a cloud-based mineral inventory data and reporting solution that allows companies to capture the raw resource and reserve data and accurately adhere to mine-to-mill reporting requirements for all stock exchanges.
The agreement with K2fly covers mineral resource public reporting requirements across all Anglo American commodities and regions.
Anglo American last year recorded revenue of more than US$41billion from its sales of platinum, diamonds, coal, iron ore, copper and other minerals in 15 regions across the globe.
K2fly CEO, Nic Pollock 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.”
The deal is the latest in a raft of tier 1 mining companies K2fly has captured in recent weeks.
Last month it signed up ArcelorMittal Mining UK, the mining arm of the ArcelorMittal Group, hot on the heels of contracts with Rio Tinto and Mineral Resources.
K2fly now has deals with 18 global clients working in 55 countries for what it says is the world’s only commercial off-the-shelf solution for mineral resource governance and disclosure.
It’s an impressive rise for the company – whose name derives from K2, the world’s second-highest mountain and perhaps the hardest to climb – since it started life in 2016.
K2fly’s contract with Anglo American is the latest in a raft of deals it has secured for its ESG solutions in recent weeks.
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