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Roy Hill expands K2fly agreement

Published by
Global Mining Review,


Following the completion of the SATEVA Acquisition by K2fly Ltd on 28 October 2020, K2fly has announced the first contract of the full Mining Technical Assurance suite to Roy Hill.

Highlights

  • Roy Hill contracts K2fly Mining Technical Assurance suite.
  • First scale of the full suite of new products that originated in the SAT-EVA suite of applications acquired in 2QFY21, now marketed as Mining Technical Assurance suite.
  • 5-year contract with a total contract value of AUS$2.44 million.
  • K2fly’s annual recurring revenue grows 9% quarter to date to AUS$3.30 million/yr.
  • Demand continues to grow for K2fly Mining Technical Assurance suite across Tier 1 miners globally.

Roy Hill is a world-class iron ore operation and the largest single iron ore mine in Australia, and is situated 344 km south-east of Port Hedland in Western Australia’s mineral rich Pilbara region. Roy Hill is an independent iron ore operation with local majority ownership and chaired by Gina Rinehart. Roy Hill ships more than 60 million tpy of iron ore, with approval to move to 70 million tpy.

Among the many benefits to the adoption of this suite of products will be an improvement in critical mine geology through automation, resulting in improved short-term scheduling and excavation of the ore body. In large-scale opencast mines, such as Roy Hill, small improvements in grade recovery or excavation efficiency deliver significant additional value to the operator.

The contract marks two significant milestones for K2fly:

  1. The first contract of the full suite of SATEVA products, including Model Management, Automated-ore-blocking, and mine-geology-data-management that work together to deliver enhanced assurance and improved recoveries for large opencast mines.
  2. A significant expansion in the company’s relationship with Roy Hill, who have actively collaborated with SATEVA previously and K2fly since the acquisition on this solution development and will continue to expand the partnership and collaboration into the future.

Brian Miller, K2fly CEO, commented: “We are delighted to expand our relationship with Roy Hill across the Technical Assurance suite and are very excited by the opportunities for both companies that will come from this contract and further solution collaborations. Roy Hill and its management have been a great partner to SATEVA and now K2fly.”

Read the article online at: https://www.globalminingreview.com/finance-business/24052021/roy-hill-expands-k2fly-agreement/

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This article has been tagged under the following:

Australian mining news Iron ore mining news Mining equipment news