Sibanye-Stillwater Limited (Sibanye-Stillwater) has signed a contract for K2fly’s Tailings Solution to be rolled out across its 38 tailings facilities globally
K2fly Limited (K2F, K2fly or the Company) (ASX: K2F), is a provider of ‘net positive impact’ solutions in ESG compliance and technical assurance, to operations of mining and asset intensive industries through its platform-based SaaS cloud solutions.
The Company is delighted to announce that Sibanye-Stillwater has signed a 5-year contract for K2fly’s Decipher Mining Tailings Management solution which they will rollout globally in support of their commitment to the International Council on Metals and Mining (ICMM) to comply with the Global Industry Standard on Tailings Management (GISTM).
The contract will generate ARR of AU$475k. The TCV is AU$2.85m (including non-recurring implementation fees) over the initial five year contract term.
Sibanye-Stillwater is a leading international precious metals mining company, with a diverse portfolio of platinum group metal (PGM) operations in the United States and Southern Africa, gold operations and projects in South Africa, and copper, gold and PGM exploration properties in North and South America.
The K2fly Decipher Solution will allow integration of multiple data sources related to safe tailings management across Sibanye-Stillwater’s global operations into a single platform, to facilitate transparent disclosure and reporting, analytics, and performance visualization.
As the fifth ICMM member to sign on to the K2fly solution, it demonstrates increasing demand for K2fly’s Tailings Solution and a runway towards additional sales with other mining companies. As more companies commit to the GISTM, K2fly sees potential for continued growth for this solution. All 28 members of the ICMM are committed to this standard which is not limited to ICMM members and is accessible to the whole industry.
Nic Pollock, Chief Executive Officer of K2fly said, “This is our first solution with Sibanye-Stillwater and we are very proud to be working with another precious metals producer and another ICMM member that take their ESG commitments very seriously. K2fly now works with five of the top ten gold producers globally.
This is also our first joint deal with our new partners Descartes Labs (DL), a major validation of that partnership. We are very excited at the opportunity to deliver an end to end solution to Sibanye-Stillwater with our partner DL.”
Source: Company Press Release