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- K2fly (K2F) signs a deal with Rio Tinto for its Ground Disturbance solution
- The five-year contract will be rolled out across Rio Tinto’s Pilbara Iron Ore operations in Western Australia
- The new deal is expected to generate an annual recurring revenue of $620,000 and a total contract value of $3.44 million
- K2fly shares were up 8.93 per cent, trading at 30.5 cents at 2:33 pm AEST
K2fly (K2F) has signed a deal with Rio Tinto for its Ground Disturbance solution.
The five-year contract will be rolled out across Rio Tinto’s Pilbara Iron Ore operations in Western Australia. The is contract expected to generate an annual recurring revenue of $620,000 and a total contract value of $3.44 million, including non-recurring implementation fees.
The Ground Disturbance platform is a single source for applying, approving, tracking, reporting and submitting closure of permits and rehabilitation commitments surrounding ground disturbance activities.
The software provides a comprehensive approvals and tracking system for ground disturbance works, enabling real-time operational updates to keep track of clearance limits, obligations and any breaches, which is thought to save millions of dollars in project execution and efficiency.
The addition of Ground Disturbance expands the number of K2fly solutions used by Rio Tinto to five out of K2F’s nine existing solutions.
“We are delighted to continue to expand our relationship with Rio Tinto into ground disturbance,” CEO of K2fly Nic Pollock said.
“Effective ground disturbance systems are the glue for operations that want to ensure technical assurance around land management, maintain license to operate and ensure high ESG standards.”
K2fly shares were up 8.93 per cent, trading at 30.5 cents at 2:33 pm AEST.
