A leading global software solutions and services provider has acquired the production accounting software of JKTech, the technology transfer company of the University of Queensland’s Julius Kruttschnitt Mineral Research Centre (JKMRC).
Global giant Mincom Limited acquired the software in a move to strengthen its mining and metallurgical capabilities and software solution offering to the global mining industry.
JKTech Managing Director Dr Geoff Gault said the acquisition reflected the strong track record of JKTech and the JKMRC in developing world-leading systems to advance the product recovery of mining and mineral processing organisations.
“Mincom is a major player in the mining software technology field,” Dr Gault said.
“Its desire to add JKTech’s Production Accounting Software, JKMetAccount, to its suite of industry-acknowledged software is evidence that the products, in particular the software, being developed by the JKTech/JKMRC partnership are truly at the leading edge and provide economic benefit to the global minerals industry,” he said.
“The acquisition will put Mincom at the forefront of production accounting in the global mining industry now and in the future.
“In addition, the Mincom transaction will provide an ongoing financial return for the benefit of JKTech and JKMRC and establish a platform for future cooperation to pursue other software application opportunities.”
The JKMetAccount software works in a similar way to financial accounting, but rather than tracking the movement of finance, focuses on the movement of metal and mineral products through mining, enrichment, refining and distribution.
Mincom’s acquisition of the software continues JKTech’s successful collaboration with the JKMRC and the international minerals industry.
JKMRC Director Professor Ben Adair said the high standard of research and innovation at the JKMRC had resulted in significant outcomes in the mineral and mining industry across a number of years.
“The JKMRC has a reputation going back 45 years for providing cutting edge research with outcomes that industry rely on – some products have saturated the available market within 2 to 3 years,” Professor Adair said.
“The JKMRC is also a key participant in two major Australian Research Council grants and a major research provider to the Cooperative Research Centre for Sustainable Resource Processing, with funding of $1.2 million in 2007 through this program.
“The Centre’s reach is global, and a range of international companies directly support postgraduate students and one-on-one research projects.”
Dr Gault said it was the close working relationship between JKTech and the JKMRC that allowed a steady flow of new ideas and technologies for transfer to industry.
“JKTech enjoys a strong relationship with the JKMRC that continues to foster the development of new and exciting products and services for the minerals industry,” he said.
“JKTech staff are active participants in the JKMRC research environment, ensuring a seamless transition from fundamental and applied research to commercial product and service offerings.
“Our leading technologies include specialist consulting (including training courses); quantitative mineralogy (with the world’s largest commercial automated mineralogy facility located at the JK Centre); software and laboratory services.”
In 2006, JKTech carried out projects in 15 countries, contributing to the growth of export sales, which exceeded 400% over the past 2 years.
Their export success was recognised by the Queensland Government with the 2005 Smart Award and the 2006 Premier of Queensland’s Export Award for Small to Medium Manufacturers.
In the 2005-2006 Smart State Innovation Building Fund the JKMRC was awarded $6.1 million for a Mineral Characterisation Research Facility to extend the benefits flowing to the Queensland economy from new processes developed at the Centre.
Media: For further information contact Lucy Manderson at UQ Communications (07 3365 2339) or Heather Miller at JKTech (07 3346 5908 or h.miller@jktech.com.au).
