Mining major Rio Tinto is standardising mine reconciliation reporting at 24 of its sites via the use of K2fly’s cloud-based software-as-a-service (SaaS) offering.
ASX-listed K2fly said its first sale to a tier-one miner of the reconciliation module in its mineral resource governance software product would generate A$360,000 of total contract value and annual recurring revenue of $75,000 over three years.
K2fly said its mine reconciliation module facilitated capture of model predictions and production information from mine sites, automating data validations where applicable, to enable comparisons of predictions and actual performance outcomes via standard dashboards. The software generated uniform reports for key stakeholder approvals.
“We have made tremendous strides forward in delivering key components to build out our mineral resource governance suite as the only vendor focussed on delivering a commercial-off-the-shelf solution to this global market,” K2fly CEO Nic Pollock said.