It’s been a busy year for K2Fly
Since we began offering the RCubed software solution, we have experienced rapid growth across Tier 1 and 2 mining companies signing on average one new client per month. In the last 12 months we have made agreements with Imerys (Paris) Newcrest (Melbourne) Glencore (Montreal) Nexa (Brazil) Rio Tinto (Brisbane) Gold Fields (Johannesburg) Newmont (Denver) Kinross (Toronto) Sibelco (Belgium) and South 32 (Perth) on top of our cornerstone clients in Anglo Gold Ashanti (Johannesburg) and Teck Resources (Vancouver).
We are now servicing clients across all commodities, multiple regions and reporting codes.
This rapid growth has been driven by a number of factors including:
- RCubed is the only Commercial Off the Shelf (COTS) software fit for purpose in the resource governance space.
- Regulatory Changes (particularly to US SEC regulations).
- In-house systems are nearing ‘end of life’.
- Generational change in Geosciences leadership.
Having grown quickly over the past 12 months, we have been focused on scaling up our service provision and building qualitative processes, ensuring our clients get a smooth implementation and the full range of benefits from the software solutions.
We expect demand to remain strong, particularly with ESG rapidly becoming a burning platform for miners. We will be working closely with clients to adapt the governance tools in RCubed to support more use cases such as Reconciliation reporting, Production reporting and better ESG reporting capabilities like Tailings and Heritage Management.
Industry-wide reporting think-tank launched
We see our current solutions as only just scratching the surface, and envisage further development to create tools that are leveraged for value on a daily basis, as well as annual reporting. Understanding what is needed in terms of reporting and governance is key to finding the right solutions for the industry.
To facilitate this we established the Mineral Resources and Reserves Reporting Forum, which held its inaugural meeting in May. The group is actively supported by AGA, Teck, Newmont, Gold Fields, Rio Tinto, S32, BHP, Anglo American, Vale and SRK and represents a unique industry think-tank, which will benefit members and our clients through sharing of best practice and innovation in public reporting.
Our next initiative is to create a customer advisory board who will help K2fly to determine which features are of most value to our customers across the industry to guide our development activities.