Newmont awards contract to K2fly for implementation of RCubed solution

12 March 2020 (Last Updated March 12th, 2020 11:28)

Gold mining firm Newmont Corporation has signed a contract with Australian technology company K2fly for a resource and reporting solution called RCubed.

Newmont awards contract to K2fly for implementation of RCubed solution
The three-year SaaS contract is expected to generate revenue of more than A$900,000. Credit: k2fly.

Gold mining firm Newmont Corporation has signed a contract with Australian technology company K2fly to implement K2fly’s resource governance solution, RCubed.

K2fly will deploy the RCubed resource governance solution for Newmont’s global mine operations.

The RCubed solution will capture and report resource and reserve data from Newmont’s 12 gold mines, other joint ventures and global projects.

The three-year software as a service contract is expected to generate revenue of more than A$900,000 ($585,728).

K2fly chief commercial officer Nic Pollock said: “Our gold resource reporting template is increasingly becoming the industry standard, and we can now proudly lay claim to our RCubed resource governance solution being used by four of the top ten gold miners globally: Newmont, Anglo Gold Ashanti, Newcrest and Gold Fields.”

Furthermore, K2fly was present at the recent Prospectors & Developers Association of Canada (PDAC) 2020 Conference in Toronto, Canada.

Following this convention, the technology firm received interest from three other gold mining companies.

Nic Pollock added: “The team present at PDAC was highly buoyed by the level of interest shown by resource companies in our software solutions.

“It very much shows K2fly has world leading software solutions (RCubed and Infoscope) which not only provide a solution to their mineral resource and ore reserve reporting obligations but also support their need for environmental, social and governance (ESG) reporting.”

Earlier this month, Newmont completed the sale of its 19.9% equity stake in Continental Gold, as part of the Chinese firm Zijin Mining’s C$1.4bn ($1.05bn) acquisition of Continental Gold.

Last month, Newmont announced that its Boddington mine in Western Australia is set to become the world’s first autonomous gold mine once it becomes fully operational.