South32 has expanded its use of K2Fly software to improve environmental, social and governance (ESG) compliance across its Australian and South American operations.
The three-year contract will earn K2Fly $781,000 for the use of its Dams and Tailings solution, as the Australian software-as-a-service (SaaS) provider surpassed $5 million in annual recurring revenue (ARR).
K2Fly chief executive officer Nic Pollock said this new contract marked some very important milestones for the company.
“We are delighted to expand our relationship with South32 across Dams and Tailings solutions,” he said.
“This extends our significant relationship with South32 who are also existing customers of solutions within our Mineral Resource Governance area and join a growing list of our clients who work with K2Fly across multiple solution areas.
“A key milestone has also been marked in our growth by surpassing $5 million, representing year-on-year ARR growth of 73 per cent.”
The Dams and Tailings solution centralises data from IoT devices, LiDar, radar, CCTV, drones, inspections and remote sensors.
This information can be used to maintain the safety and security of dams and tailings facilities to avoid catastrophic environmental emergencies.
The contract will be rolled out across six of South32’s operations in Australia and South America.
While the exact locations are undisclosed, South32’s Australian operations include Cannington silver mine in Queensland, Groote Eylandt Mining Company (GEMCO) manganese mine in the Northern Territory, the Illawarra Metallurgical Coal operations in New South Wales and the Worsley bauxite mine in Western Australia.
Aiding in K2Fly’s rise to $5 million ARR was another recent contract with North American miner Freeport-McMoRan for use of its RCubed Mineral Resource Governance solution.
This three-year $200,000 deal will see the RCubed software rolled out across 12 of Freeport’s operations in North America, South America and Indonesia.