SUBIACO: K2fly Ltd announced that Rio Tinto have signed a five-year contract to implement the RCubed Mineral Resource and Reserve solution across 20 sites globally.

Implementation will commence immediately. The total contract value, including initial implementation costs, is for AU$1.45 million. The RCubed solution will replace an in house system and will assist Rio Tinto in providing mineral resources and ore reserves reporting and governance for its shareholders and regulators.

Nic Pollock K2fly Chief Commercial Officer said, “Rio Tinto’s 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.”

The RioTinto contract further increases the strong ARR Growth that K2fly SaaS business is experiencing of 150% CAGR over the last 4 quarters in whichQ1was up by 27% from Q4 FY19.

K2fly Ltd is an ASX listed technology company which targets asset intensive industries. It supplies people, products and strategic alliances focussed on solving problems for clients.