K2fly welcomes Fortescue decision to extend Infoscope Land Management agreement for a further three years

K2fly Ltd (ASX:K2F) welcomes the decision of Fortescue Metals Group Limited (ASX:FMG) to extend the term of its Infoscope Land Management software licence for a further three years for Pilbara operations.

In addition, FMG has standardised the use of the system across their operations in Europe and South America for a congruent term.

The annual contract value has increased to $485,000 and the total contract value (TCV) (excluding services) is $1.455 million over three years.

“Longstanding partnership with FMG”

Chief executive officer Brian Miller said: “We are delighted to continue our long-standing partnership with FMG, which commenced in 2012.

“The FMG approach in looking at this as an integrated solution across heritage, environment, tenements, land use permits, and social investment rather than in silos is world’s best practice.

“We are excited about where we can take this with FMG and other customers.”

The contract marks two significant milestones for K2fly and FMG:

• The system has now been in use at FMG for nine years and is extended by another three which demonstrates the importance and ‘stickiness’ of the solution over 12 years; and
• FMG has decided to standardise the system for use across various overseas’ operations in Europe and South America, which extends the geographical spread of the software into new jurisdictions.

Governance and compliance solutions

K2fly is an ASX listed technology company providing enterprise-level technical assurance and reporting solutions across all aspects of the Environmental, Social and Governance functions.

Servicing the mining, oil & gas, utilities and agriculture sectors, K2fly delivers a suite of solutions in governance and compliance, stakeholder engagement and permits and obligations services for clients covering:

• Land access;
• Community and heritage;
• Rehab;
• Dams and tailings;
• Resources inventory and mine geology systems; and
• Ground disturbance.

Underpinning K2fly’s Software as a Service (SaaS) offering are its proprietary technologies: RCubed, Infoscope, the SATEVA Suite and Decipher.

Story by ProactiveInvestors