The total contract value is more than A$1.5 million (US$1.1 million), based on annual recurring revenue of A$180,000 per annum in the first four years and A$250,000 in the fifth, with the deal commencing this month.

K2fly acquired the Decipher for Mining software in March from developers CSBP and WesCEF, to add depth to its tailings and rehabilitation capacity.

As part of that deal Decipher CEO Anthony Walker joined K2fly in a senior executive position and brought along the rest of the core Decipher team.

K2fly's contract is the second signed with Alcoa this year, following the five-year SaaS contract for its RCubed resource inventory product that was signed in January.

The total value of this contract is A$573,600, with Alcoa rolling out RCubed to six sites globally.

K2fly chief commercial officer Nic Pollock said the company was proud to be expanding the relationship with Alcoa to deliver a second solution that contributes to Alcoa's environmental, social and governance commitments around tailings.

"This contract, along with previously announced contracts or purchase orders, demonstrates increasing demand for K2fly's tailings solution following the acquisition of Decipher for Mining in March 2021," he said.

"As more companies commit to the global industry standard on tailings management we are likely to see continued growth in this solution."

Pollock said Alcoa was the third member of the International Council on Mining and Metals to commit to K2fly's dams tailings solution.

"K2fly is cautiously optimistic that the solution developed with Decipher for Mining to meet these newly agreed standards will be a significant contributor in this arena and is actively pursuing opportunities with both existing clients and prospective clients," he said.