K2fly has wasted no time integrating with fellow software as a service provider, SATEVA, following the purchase of the mining software developer in late October. The company has hit the ground running, releasing a new software package named Model Manager to complement its own core offering, the RCubed mining resource and reserve reporting software.
K2fly has wasted no time integrating with fellow “software as a service” provider, SATEVA, following the purchase of the mining software developer in late October. The company has hit the ground running, releasing a new software package named Model Manager to complement its own core offering, the RCubed mining resource and reserve reporting software.
The Model Manager software forms part of its developing SATEVA software suite, which includes the Maximum Return Mine Geology and an Automated Ore Blocker programs and is shaping up as a versatile tool-box of mining software. The company is also continuing to develop its tailings dam management software with partners Decipher and SAP.
K2fly’s Chief Executive Officer, Brian Miller said:
“Today is a watershed day for K2fly. We are thrilled to announce that the latest intellectual property from SATEVA, Model Manager, is now ready for the market. The integration of the SATEVA business into K2fly has been smooth and efficient, and we are now involved in some very exciting sales opportunities because of the recent acquisition. The prospects for 2021 are very encouraging.”
The foundation of K2fly’s business has been the cloud based RCubed software, which is provided as a software as a service, or “SaaS”, product and as is in use at more than 200 mine sites across the globe. The package is already being utilised by three out of the big four iron ore miners in Australia including Rio Tinto, Fortescue Metals Group and Roy Hill, and was recently adopted by French nuclear fuel producer, Orano SA.
The revolutionary RCubed product facilitates the monitoring and reporting of mineral resources and reserves across various operations, allowing multiple levels of management, oversight and validation of what is one a company’s most valuable asset – its in-ground, mineable ore deposits.
The recent purchase of fellow software developer SATEVA has delivered K2fly a complementary suite of software solutions, alongside a comprehensive client list in which to expand the reach of the company’s SaaS offerings. First cab off the rank for the expanded K2fly software range is its Model Manager software, which directly integrates with the company’s RCubed package.
Model Manager is designed around improving mineral resource block modelling and associated reporting, including annual inventory audits and reconciliations.
The company has also developed two further geology-style programs to assist in mining and operations, including the Maximum Return Mine Geology System, to optimise and improve the efficiency of open pit and underground mining operations, and Automated Ore Blocker which integrates with both of the above software packages assisting in optimising modelling for later mining. Maximum Return is already in operation with Roy Hill in the Pilbara and is likely to be rolled out to a range of other users in the coming months.
K2fly is also continuing the development of its tailings management software with partners Decipher, a subsidiary of Westfarmers, and global giant, SAP. The software development has been undertaken in response to several high-profile tailings dam failures, including the catastrophic failure of the tailings dam at the Brazilian Brumadinho iron ore operation in 2019 that killed more than 250 people.
The company is consulting with 20 major mining companies and is looking to design the operation of the software around their monitoring, reporting and governance requirements, which are now being developed in line with the evolving Global Tailings Standard, or “GTS”. The software is intended to rapidly demonstrate compliance for third-party oversight and governance, potentially reducing insurance premiums and the cost of implementing the requirements of the GTS, potentially delivering millions of dollars in cost savings to end users.
With K2fly rapidly expanding both its software offerings and client base, the integration of SATEVA has the company is well on the path to carving out a premium position in the mining software market. Following the release of its new software products on to the market in recent weeks and with its high-profile tailings management software taking shape, K2fly looks set to ride the resources sector sleigh into Christmas and into a very happy new year.
Is your ASX listed company doing something interesting? Contact: matt.birney@businessnews.com.au
