QMASTOR finalises South African deals

Industrial software developer QMASTOR (ASX:QML) has finalised a deal with South African miner Exxaro Resources that will start paying off in FY11

Industrial software developer QMASTOR Limited (ASX:QML) has finalised contract deals with a major South African mining company.

QMASTOR will supply its Pit to Port commodity supply chain management system for Exxaro Resources.

The contract covers software licensing, professional services and support and maintenance.

QMASTOR declined to disclose the value of the deal, but said it was a major contract and that a significant portion will be paid out this financial year.

Exxaro intends to use the Pit to Port system across nine operations, including its corporate centre in Pretoria and its Australia Sands mineral sands project.

QMASTOR general manager Steve Maxwell said the contract “enables [us] to diversify into a new commodity group - mineral sands - and increases the market potential for our company.”

The company last month launched a 1-for-3 rights issue to raise $3.9 million, which will be used to help fund the acquisition of Canadian mining software Algosys for up to $5 million.

QML shares ended Thursday's trading four per cent lower at $0.240. The shares are down from an nine-month peak of $0.310 in April.

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