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- Software developer K2fly (K2F) has partnered with Decipher to create a monitoring and governance platform for Tailing Storage Facilities
- Tailings are the leftover materials, such as rock and sand, that are derived when you separate valuable ore from invaluable ore
- These are then stored within a containment structure, such as dams, which are known as a tailings storage facility
- Unfortunately, these facilities can fail when there is an uncontrolled release of water, waste-material, or by-product
- Both companies will work together to manage the risks associated with these facilities and are currently in discussions with global miners about a solution
- K2fly has ended the day with no change and shares trading for 22 cents each
Software developer K2fly (K2F) has partnered with Decipher to create a monitoring and governance platform for Tailing Storage Facilities.
Both companies will work together to manage the risks associated with these facilities.
Tailings are the leftover materials, such as rock and sand, that are derived from separating of valuable ore from invaluable ore.
These are then stored within a containment structure, such as dams, which are known as a tailings storage facility (TSF).
Unfortunately, these facilities can fail when there is an uncontrolled release of water, waste-material, or by-product.
This can then cause negative consequences to the environment, industry, and regulators.
“Our proposed solution will ensure industry has access to a significantly better tool to aid monitoring and governance of TSF’s to recognised standards,” Chief Commercial Officer Nic Pollock said.
“The solution reflects best practice and will support compliance with the Global Industry Standard on Tailings Management recently endorsed by the International Council on Mining and Metals and other Global Tailings Review convenors, as well as standards set by national regulatory bodies,” he added.
K2fly and Decipher are now in discussions with global miners about this solution.
K2fly has ended the day with no change and shares trading for 22 cents each in a $20.14 million market cap.
