Alcoa has signed K2fly to a tailings management contract across seven bauxite mines globally, furthering the industry’s commitment to the Global Industry Standard on Tailings Management (GISTM).
The five-year contract will be worth $1.5 million as the rollout of the software-as-a-service (SaaS) begins in August.
K2fly chief commercial officer Nic Pollock said Alcoa was fast becoming a very valued client.
“We are proud to be expanding our relationship with Alcoa to deliver a second solution that contributes to Alcoa’s ESG commitments around tailings,” Pollock said.
With two bauxite mines in Western Australia, Alcoa is the third member of the International Council for Mining and Metals (ICMM) to implement K2fly’s tailings solutions.
Alcoa’s first contract with K2fly came in January 2021 when it locked in an RCubed Mineral Inventory solution across six sites – worth almost $600,000.
K2fly has now secured contracts with the likes of Fortescue Metals Group, Glencore, Newmont, AngloGold, BHP, Evolution Mining and Roy Hill.
All companies committed to the GISTM are expected to have tailings management solutions by August 2023, with K2fly playing an integral part in that process.
In February, K2fly acquired Decipher’s mining business to strengthen its suite of solutions.
Decipher offers cloud-based SaaS monitoring and compliance solutions for tailings management and rehabilitation.
Following the Alcoa deal, the tech business stated it hopes to continue the momentum gained since the GISTM was released.
“K2fly is cautiously optimistic that the solution developed with Decipher for Mining to meet these newly agreed standards will be a significant contributor in this arena, and is actively pursuing opportunities with both existing clients and prospective clients,” the company stated.