Mincom buys JKTech software

MINCOM has acquired a metallurgical accounting solution from JKTech, the mining technology provider and technology transfer arm of Julius Kruttschnitt Mineral Research Centre at the University of Queensland. The deal strengthens Mincom’s mining and metallurgical capabilities and gives it fist right of refusal to acquire JKTech's other software for further commercialisation.

Angie Tomlinson

“The 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,” Mincom CEO Richard Mathews said.

He said by combining Mincom’s mining solution set with JKTech’s production accounting system it could meet clients’ needs in product and inventory reporting.

“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,” Mincom mining vice-president Dave Stevenson said.

“The addition of a metallurgical accounting solution will assist mining and metal processing facilities to align themselves with key accounting codes of practice.”

Friday’s acquisition follows on from Mincom’s purchase of Comlabs Systems (South Australia) in 2005, and Exedra (South America) in 2004.