Resource Governance solutions provider K2fly Limited (ASX: K2F) has confirmed that BHP has extended its existing one-year contract for K2fly’s Ground Disturbance Solution covering its Western Australian Iron Ore (WAIO) operations in the Pilbara region of Western Australia, with a new three-year contract.
The three-year agreement with K2fly will generate ARR of $664,000 and has a TCV of $1.99 million.
The new agreement follows an initial one-year contract signed in May 2022 and successful deployment of K2fly’s solution at BHP’s WAIO operations.
Our Ground Disturbance solution is the only commercial off the shelf solution available in the market globally and speaks to how our customers are increasingly attributing value to the importance of proper resource governance on land and protecting their license to operate. We are delighted to extend our contract into a three-year term with another global tier 1 client,” CEO, Nic Pollock, said.