Mincom Limited has acquired the metallurgical accounting solution from JKTech, a leading Australian mining technology provider and technology transfer company of the Julius Kruttschnitt Mineral Research Centre (JKMRC) at the University of Queensland.
The acquisition of JKTech's software system, JKMetAccount, strengthens Mincom's mining and metallurgical capabilities and software solution offering to the global mining industry.
As part of the agreement, Mincom and JKTech have also agreed that Mincom will have first right of refusal over third parties to acquire JKTech's other software solutions for further commercialisation.
Mincom CEO Richard Mathews said he acquisition of JKTech's software solutions increases Mincom's technical mining platform by providing advanced solutions to the mining and metal processing industry.
"JKTech has a strong track record for developing systems that enable mining and mineral processing organisations to enhance their product recovery," he said.
"By combining Mincom's mining solution set with JKTech's production accounting system, we can provide a market leading solution to our customers that meets their unique needs and requirements in product and inventory reporting."
JKTech's managing director Dr Geoff Gault, said Mincom provides the global presence and software expertise to take JKMetAccount to the next level commercially.
"The acquisition will put Mincom at the forefront of production accounting in the global mining industry now and in the future. It also provides the platform for future co-operation to pursue other software application opportunities," he said.
Mincom vice president Dave Stevenson, said production accounting is a vital tool for the minerals industry similar to financial accounting, except rather than tracking the movement of finance, it focuses on the movement of metal and mineral products through mining, enrichment, refining and distribution.
"We now have solutions that are geared to provide better reporting in line with regulatory requirements. The addition of a metallurgical accounting solution will assist mining and metal processing facilities to align themselves with key accounting codes of practice," he said.
This acquisition follows Mincom's acquisition of Comlabs Systems in 2005 and Exedra in 2004.