AngloGold resigns K2fly for reserves reporting

AngloGold Ashanti has extended its contract for K2fly’s reporting software application for an additional three years.

The contract extension is worth over $240,000 starting this month.

K2fly has received “high level of interest” for the RCubed platform from New York Stock Exchange (NYSE) listed companies due to the United State’s regulation changes concerning securities coming into effect in January.

AngloGold, a foundation customer of the RCubed Resource Governance solution, has three stock exchange listings globally including in Australia and South Africa.

Its listing on the NYSE was responsible the development of the RCubed solution, according to K2fly.

“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,” K2fly chief commercial officer Nic Pollock said.

“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.”

K2fly stated that the gold sector was performing “extremely well” for K2fly and RCubed sales, with four of the top 10 global gold mining companies now using RCubed to report their resources and ore reserves.

Newmont, who is also listed on the NYSE, is among the latest to sign a contract with K2fly.

The tech consultancy expects the uptake to continue, with further multi-year contractual negotiations in the pipeline.

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