Australia

K2fly shares surge after signing Rio Tinto contract to implement resource reporting system

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K2fly Ltd (ASX:K2F) has signed a five-year contract with Rio Tinto (ASX:RIO) to implement the RCubed Mineral Resource and Reserve solution across 20 sites globally.

The total contract value, including initial implementation costs, is $1.45 million. Implementation will commence immediately.

The RCubed solution will replace an inhouse system and will assist Rio Tinto in providing mineral resources and ore reserves reporting and governance for its shareholders and regulators.

Significant growth in annual recurring revenue

K2fly chief commercial officer Nic Pollock said: “Rio Tintos signing represents a significant milestone for K2fly and is further recognition from a Tier 1 miner that our RCubed solution represents the most compelling offering in Resource Governance solutions.

“We are extremely proud to be working with such an industry leader.”

Importantly, the Rio Tinto contract fuRead More – Source