- MineHub announces transformative agreement with a global mining company, projected to contribute approximately CAD$850,000 to its revenue in the next 12 months.
- This agreement highlights the MineHub platform’s potential to revolutionize mining operations and increasing transparency in the supply chain process.
Vancouver, B.C., August 2, 2023. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce it has entered into an agreement with a prominent global mining company to digitize its mining and supply chain operations, including the onboarding of numerous ecosystem partners onto the platform. This agreement is expected to contribute approximately CAD$850,000 to MineHub’s revenue over the next 12 months.
Under the terms of the agreement, MineHub will provide an enterprise license to its platform along with enterprise applications for use in the global mining company’s operations. In addition, MineHub will further be enhancing its platform with high value functionality and integration APIs, which will increase operational efficiencies and reduce the potential for human error.
Andrea Aranguren, President & CEO at MineHub, said “This agreement with a global mining company marks a significant milestone in MineHub’s journey. Together, we aim to spearhead a paradigm shift in mining operations, empowering our industry with unparalleled security, efficiency, and transparency of supply chains. This momentous partnership reinforces MineHub’s position as a pioneering force in the mining technology sector and underscores the immense value the mining industry sees in the transformative opportunities offered by the MineHub platform.”
Under the terms of the Statement of Work (SOW), the two companies have already embarked on the first stages of the project, including API development and deployment, which is on track to be completed by the end of Q4 2023. Following this, MineHub will deliver further enhancements and validation testing in Q1 2024, with onboarding of the global mining company’s ecosystem partners anticipated in the same quarter. An initial list of ecosystem partners has already been identified. This network of like-minded partners will foster a thriving ecosystem of innovative supply-chain solutions, amplifying the impact and reach of MineHub’s transformative capabilities.
Andrea Aranguren further adds, “We look forward to delivering on our commitments to this global mining company and its ecosystem of trading partners. This contract is additional validation of MineHub’s industry leading role and it immensely assists in managing our operating cash flows. Together with the previously announced capital contribution from Sumitomo Corporation, this further increases the acceleration in non-dilutive cash generation by the Company.”
The counterparty and terms of the agreement remain confidential.
About MineHub Technologies
MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.
President & CEO, MineHub Technologies Inc.