Join our daily newsletter At The Bell to receive exclusive market insights
- K2Fly (K2F) is selected by BHP Iron Ore for its ground disturbance solution to be rolled out across its WA iron ore (WAIO) operations in the Pilbara of Western Australia
- The contract is for one year and will generate annual recurring revenue (ARR) of $620,000 and has a total contract value of $2.12 million
- The WAIO is an integrated system of four processing hubs and five mines, connected by more than 1,000 kilometres of rail infrastructure and port facilities in the Pilbara
- WAIO produces over 245 million tonnes of iron ore annually making it one of the top five producers of iron ore globally
- K2F shares are up 5.0 per cent, trading at 21 cents
K2Fly (K2F) has been selected by BHP Iron Ore for its ground disturbance solution to be rolled out across BHP’s WA iron ore (WAIO) operations in Western Australia.
The contract is for one year and will generate annual recurring revenue (ARR) of $620,000 and has a total contract value of $2.12 million, which includes non-recurring implementation fees.
The WAIO is an integrated system of four processing hubs and five mines, connected by more than 1000 kilometres of rail infrastructure and port facilities in the Pilbara region of northern Western Australia.
WAIO produces over 245 million tonnes of iron ore annually making it one of the top five producers of iron ore globally.
“Our Ground Disturbance Solution is the only system which helps provide better transparency and governance whilst avoiding damaging the environment or protecting cultural heritage and ensuring all stakeholder engagement and obligations are met,” K2Fly CEO Nic Pollock said.
Sitting within K2fly’s Natural Resource Governance area, K2fly Ground Disturbance solution is a cloud-based SaaS platform for applying, approving, tracking, reporting and submitting closure of permits and rehabilitation commitments surrounding ground disturbance activities.
“Because of recent events in the Pilbara, the world’s attention is very much focused on how mining companies ensure that they better protect the environment, cultural heritage sites and engage with communities.
K2fly’s Ground Disturbance Solutions is reportedly the world’s only commercial off the shelf solution for the natural resource governance and ESG issues that mining companies are addressing. Because of this, the company expects the solution to become standard across many mining companies and across all jurisdictions.
K2F shares were up 5 per cent, trading at 21 cents as of 12:38 pm AEST.
