Ventyx, a supplier of industrial enterprise software under ABB, has secured a contract from Saudi Arabian mining company Ma'aden to supply mining-operations software solutions.
Ma'aden's wholly owned subsidiary, Ma'aden Gold and Base Metals company, will pay Ventyx $2.8m for its services.
The software will aid the company in enhancing its planning and performance across four existing gold mines.
Ma'aden plans to increase its gold production considerably in the next few years, with several new projects in the pipeline.
Ma'aden Gold and Base Metals president Yahia AlShangiti said that Ventyx has an extensive record of assisting complex, large-scale mining operations achieve optimal performance.
"We have been impressed with both the company's deep domain expertise in mining, and the power and flexibility of the software," added AlShangiti.
Ma'aden will deploy two core mining applications from the Ventyx software portfolio; Ventyx Production Accounting and Ventyx MineMarket.
Ventyx Production Accounting streamlines metal accounting and provides insight into plant performance, while Ventyx MineMarket enables monitoring of ore movements from the mine to the plant, manages stockpiles, tracks and manages logistics and manages sales and service contracts.
Ventyx chief operating officer Craig Jones said that the growing Saudi mining sector is expected to play a significant role in the Saudi Arabian industry.
"This is a strategically important agreement with Ma'aden, in which we're partnering with the region's largest mining company to help further their mining operations," Jones said.
"We also see excellent growth possibilities for Ventyx in this important mining region, and will be looking for opportunities to continue expanding our footprint."
Image: Ma'aden will deploy Ventyx mining software solutions across all its gold mines. Photo: Ventyx