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Delta Drone International signs contract with Assmang’s Khumani Iron Ore for Drone Data Services

·2-min read
DELTA DRONE
DELTA DRONE

Delta Drone International signs contract
with Assmang’s Khumani Iron Ore for Drone Data Services

Dardilly, 11 August 2022 – 6 pm

  • Delta Drone International (via its subsidiary Rocketmine Pty Ltd) signs contract to deliver drone surveying services with Assmang Proprietary Limited’s Khumani Iron Ore Mine in South Africa

  • 3-year contract renewal with a Total Contract Value (TCV) of AU$880k (ZAR10.347m) and Annual Recurring Revenue (ARR) of AU$293k (ZAR3.449m)

  • Assmang is a major ferrous metals miner and processor in South Africa operating across iron ore, manganese and chrome

Global drones-as-a-service provider, Delta Drone International Limited (ASX: DLT) is pleased to announce it has signed a contract with Assmang Proprietary Limited for drone surveying services.

The contract renewal is for three years and has a Total Contract Value (TCV) of AU$880k (ZAR10.347m) and Annual Recurring Revenue (ARR) of AU$293k (ZAR3.449m).

The contract is subject to standard termination clauses and an entitlement by Khumani to terminate the contract should our subsidiary or an associated entity not transform to a 51% B-BBEE owned entity within 21-months (see below for further detail*).

Drone services will include survey mapping and blast inspections for Assmang’s Khumani Iron Ore Mine.

DLT CEO Christopher Clark said: “We are very pleased to have renewed our services for a further 3-years with Khumani mine who are a leading player in the Iron Ore mining sector. This contract materially grows our recently reported ARR to an effective AU$1,993k ARR at end of July.”

About Assmang Proprietary Limited

Khumani Iron Ore Mine – formerly known as the Bruce, King and Mokaning (“BKM”) Project, which refers to the farms on which the iron ore resources are located – is situated approximately 30km south of the town of Kathu and approximately 65 km north of Beeshoek Mine, in the Northern Cape Province of South Africa. The mine has a capacity to mine 14m tonnes of iron ore per annum.

Incorporated in 1935, the Assmang Group employs 6,567 permanent employees and operates as three divisions, namely iron ore, manganese and chrome. Assmang is controlled jointly by Assore Limited and African Rainbow Minerals. Both shareholders are listed on the JSE Limited.

* Including one month termination notice for non-performance. Assmang operates in South Africa under the B-BBEE framework which aims to facilitate broader participation in the economy by black people. The contract with Assmang stipulates that within 21-months of commencement, that Rocketmine help transform and empower a 51% B-BBEE owned entity, for which Khumani is to be invoiced, with the consent of Assmang. This contract clause is an entitlement to Assmang and may or may not be enforced. Currently Rocketmine is a 26% accredited B-BBEE entity.

Exchange Rate: 1 ZAR = 0.0851149 AUD

About Delta Drone: Delta Drone Group is a recognized international player in the field of civilian drones for professional use. It develops a range of professional solutions based on drone technology as well as all associated services that form a complete value chain.
Delta Drone shares are listed on the Euronext Growth Paris market – ISIN code: FR0014009LP0
BSA Y – ISIN code: FR 0013400991
www.deltadrone.com

Investor Contacts:

 

 

 

Jerome Gacoin

 

+33 1 75 77 54 65

 

jgacoin@aelium.fr

 

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