The three-year contract with BHP Western Australia Iron Ore (WAIO) is expected to help expand Aqura’s business model into new markets.

Veris also added that Aqura had signed a five-year communications-as-a-service agreement with gas and electricity giant ATCO.

Together, the two contracts are expected to bring in a combined total of $2.2 million.

Veris chairman Karl Paganin said the new contracts would continue to expand Aqura’s reach in the market as a provider of technology solutions across multiple sectors.

“Securing these contracts with blue-chip customers like BHP and ATCO reflects the continued success in delivering Aqura’s strategy of building our OPEX (operating expense)-friendly solutions. These provide flexibility for customers to engage with Aqura in a more commercially attractive manner,” he said.

“Our program to bring OPEX solutions alongside our CAPEX (capital expenditure) project work is growing not only our addressable market, it also delivers longer term visibility on our revenue streams.

“Aqura’s strategy of internally funding the development of these product suites during FY20 (2020 financial year) is now delivering significant momentum as we continue to grow into new segments of the market and expand our recurring revenue model.

“This is expected to provide a strong foundation for continued growth in FY21 (2021 financial year).”

BHP’s WAIO consists of four processing hubs and five mines that are linked together through a rail network and port facilities in the Pilbara region of Western Australia.

Through its WAIO system, the company processes its ore at the Newman, Yandi, Mining Area C and Jimblebar processing hubs.

BHP has four primary WAIO joint ventures at Mt Newman, Yandi, Mt Goldsworthy and Jimblebar, with an interest of 85 per cent at each mine.