K2fly has clinched a second significant contract for its ground disturbance reporting software in the past month with a A$2 million deal to deploy the product at the Roy Hill iron ore operations in Western Australia’s Pilbara region.
It follows a similar agreement with BHP announced last month.
ASX-listed K2fly describes its software-as-a-service offering as a ground disturbance works approvals and tracking system providing “real-time” operational updates on regulated clearance conditions and obligations.
Hancock Prospecting is 70% owner and operator of Roy Hill.
K2fly said the new five-year deal had a total contract value of $2 million and would generate annual recurring revenue of circa-$300,000. Roy Hill bought its mine technical assurance product in 2021.
“This agreement firmly establishes K2fly as the leading supplier of natural resource governance solutions in the Pilbara region of Western Australia,” K2fly CEO Nic Pollock said.
“Our commercial off-the-shelf [COTS] ground disturbance solution is unique globally and supports mining companies to protect their licence to operate in an increasingly regulated sector of the market.”
K2fly has a current market value around A$18 million.
