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Posted by Daniel Gleeson on Nov 29th, 2022
K2fly Limited says that ArcelorMittal Mining UK has selected K2fly’s Resource Disclosure and Model Manager solutions, in its Mineral Resource Governance solution area, to support the wider ArcelorMittal group reporting obligations of reporting as a publicly listed company under US SEC SK 1300 guidelines.
The five-year contract with K2fly will generate a total contract value of A$1.9 million ($1.3 million) and represents the first joint sale of K2fly’s resource disclosure solution with Model Manager.
Resource Disclosure enables clients to source raw resource and reserve data and report to multiple stock exchanges to stay consistent, while Model Manager helps improve governance over resource and reserve data, including meshes, wireframes, triangles and models, according to K2fly.
These two solutions are set to be used in all 10 mining regions in the ArcelorMittal group, including Canada, Africa and elsewhere.
Nic Pollock, CEO of K2fly, said: “We are delighted to be able to announce our first contract with ArcelorMittal (Mining UK). We are also thrilled that this is the first joint sale of our K2fly resource disclosure solution together with Model Manager. This understood the vision leading to the acquisition of Sateva which brought us Model Manager, which is a very natural fit with our resource reporting solution.
“This combination provides our customers with a deep governance and transparency solution and functionality around block model management on an enterprise-wide basis. This combination is one of the holy grails of the mining industry, linking model management and resource disclosure systems.
In addition to winning the ArcelorMittal contract, K2fly recently reported that Mineral Resources Limited has signed up to use Model Manager and Ore Blocker – a technical assurance module – as part of a three-year contract. This will see solutions used in MinRes iron ore and lithium operations across Australia.
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