SYDNEY: K2fly Limited announced that both Vale S.A. (Vale) and South 32 Limited (South32) have signed initial purchase orders to immediately commence work on proof of concept designs for the RCubed Resource Governance Solution.

Vale is the world’s largest producer of iron ore and iron ore pellets and the world’s largest producer of nickel. Vale also produces manganese ore, ferro-alloys, metallurgical and thermal coal, copper, platinum group metals, gold, silver and cobalt.

Vale’s securities are traded on the NYSE, the B3 –Brasil, Bolsa, Balcão, the Euronext Paris and LATIBEX.

South32 is a globally diversified mining and metals company. It produces bauxite, alumina, aluminium, energy and metallurgical coal, manganese, nickel, silver, lead and zinc at its operations in Australia, Southern Africa and South America.

South32 is also the owner of a high-grade zinc, lead and silver development option in North America and has several partnerships with junior explorers with a focus on base metals. While the initial purchase order amounts are not material, the request for proof of concept designs by South32 and Vale demonstrates the continued interest by major mining entities and the need for a software solution to support mining entities’ mineral resource and reserve reporting.

The RCubed Resource Governance software successfully provides the solution to this problem.