Evolution Mining has signed a three-year contract with K2fly to deliver a tailings solution at Lake Cowal in New South Wales, near the Cowal gold mine.
The three-year contract would be valued at over $250,000.
According to K2fly, growth in demand for tailings solutions has been increased by the International Council on Mining and Metals’ rollout of the Global Industry Standard on Tailings Management.
The standard focuses on the safe management of tailings facilities, aiming to achieve zero harm.
The need for such a standard was elevated after Vale’s Brumadinho dam burst in January 2019, killing 270 people.
“With an ambition of zero harm to people and the environment, the Standard significantly raises the bar for the industry to achieve strong social, environmental and technical outcomes,” the International Council on Mining & Metals stated.
“It elevates accountability to the highest organisational levels and adds new requirements for independent oversight.
“The Standard also establishes clear expectations around global transparency and disclosure requirements, helping to improve understanding by interested stakeholders.”
K2fly acquired Decipher for Mining in January for $3.7 million in shares.
Decipher offers safe solutions for tailings and mine rehabilitation.
This includes cloud-based software as a service monitoring solution, which uses data to improve safety around tailings and enables remote monitoring.
K2fly has also received an order from BHP for an initial proof of concept for Decipher’s rehabilitation solution.
The solution will be implemented at the Hunter Valley Energy Coal operations in New South Wales.
BHP owns the Mt Arthur thermal coal mine through Hunter Valley Energy Coal.
K2fly stated that the deals with BHP and Evolution were not material.
“While the company is very pleased with the progress to date, and we celebrate each win, and although the contracts and purchase order to date are not material contracts/orders, they do demonstrate the demand for our Decipher solutions in tailings and rehab,” K2fly stated.
In February, K2fly chief commercial officer Nic Pollock said the company’s acquisition of Decipher was in response to customer demand.
“Our success in building our resource inventory and governance solutions with global tier one and two clients has rapidly uncovered multiple further technical assurance needs of our customers, particularly in tailings, heritage and rehabilitation as well as land access and disturbance,” he said.
“This is coinciding with higher levels of required reporting and compliance following the release of the global tailings standard, plus the laser focus shareholders now have on ESG (environmental social governance).”