Vancouver, B.C., June 7, 2022. MineHub Technologies Inc. (TSXV : MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to provide this corporate update to shareholders.
Supply chain resilience is more important than ever in the current turbulent and volatile macro-economic environment. Technology plays a pivotal role in achieving this resilience to protect brand reputation and revenues, which is why corporations we work with recognise the importance of the MineHub platform. In addition to improving operational efficiency and reducing operational risks through digitalisation, MineHub enables them to:
- Gain improved visibility into their supply chains to pro-actively mitigate against disruptions
- Move from physically delivered documents to digital transactions to protect cashflows
- Enhance their customer experience with rich, high-quality and real-time data to protect their reputation or grow revenue
- Verify compliance with fast emerging trade regulations to avoid costly fines and brand damage
Arnoud Star Busmann, CEO, said “we have the privilege to be working and engaging with a growing group of international corporations across all continents – the feedback we are receiving about MineHub is very positive and it validates our approach and the value we bring to our users. The completeness of functionality and the ease of use are all testament to the importance of industry collaboration and support when building a platform like ours. We continue to enhance our platform, improve our organisation and mature the commercial relationships with our existing partners and customers. At the same time, we are accelerating growth in the number of new large corporations that we are engaging with. We have never been in a better position than today and are looking forward to the next phase in our growth, expecting the transition into revenue in 2022”.
MineHub has made significant progress in recent months and we are pleased to recap on the highlights and share what is ahead.
As the platform continues to get more market exposure, we get valuable feedback that helps us innovate and identify new value opportunities. Specific platforms improvements resulting from that include:
- Major upgrade of our Assay Exchange application, based on feedback from operations teams in copper industry giants like BHP, Sumitomo, China Minmetals and Zijin
- Release of our container-logistics solution, expanding our potential use to the full seaborne market
- Enhanced ESG functionality, enabling automation of ESG logistics credentials at shipment level as well as brands/products
- Increased automation around onboarding has significantly reduced the setup time for new customers
In addition, the product teams have been able to accelerate the time-to-market for releasing improvements by an order of magnitude, and increased automation of the set-up of new users has greatly reduced the time and effort to onboard new customers.
MineHub is preparing itself for the next phase in its development and readiness for scaling. Several organisational developments that are relevant in that context include:
- Moving critical technology and engineering capacity more in-house, and reducing costs and dependencies on external IT providers
- Increasing commercial and customer success capacity
- Strengthening of the team in China
- Expanding our footprint in Brazil and Chile
- Appointment of Oswald Kuyler, former managing director of the ICC to the advisory board
All these activities reflect the progress we are making and the confidence in our execution performance by the team, shareholders and customers.
Customers and Partners
We continue to mature the commercial relationships with our existing customers and partners, as well as expand into new ones as we accelerate our market traction in key ecosystems like iron ore and copper. Highlights over the last four months include:
- Our partnership with Sumitomo Corporation, one of the leading Japanese global trading houses
- A first copper concentrate transaction involving three of the largest corporations in the copper industry – BHP, China Minmetals and Zijin Mining – including key MineHub innovations like assay exchange and carbon emissions tracking
- A first shipment of iron ore between Roy Hill and Xiamen C&D
Next to these published events, we have been initiating and running several other projects with key industry players, including a first live shipment with refined copper using our new container logistics capability. MineHub’s strategy of promoting and enabling ecosystem connectivity is also reflected in its prioritisation of strategic partnerships, like the recent announcements involving:
- Kimura capital – a leading non-bank lender with whom we are developing a trade finance syndication platform
- Coriolis Technologies – a leading data service providing independent ESG scoring of market participants
- Tradewaltz – a company backed by the Japanese government and leading Japanese corporations focused on digitalising trade processes in Japan
- TradeGo – China’s leading blockchain-based commodity trading platform, and is owned by corporations like Petrochina, Sinochem, Macquarie, Bank of China, COSCO and Saudi Aramco
We are executing and delivering on an ambitious partnership and integration roadmap and we will continue to provide visibility of our progress through public announcements.
Looking ahead in 2022
Global events and continued disruptions impacting supply chains are the key contributors to the current inflationary economic conditions, and demonstrate the importance and urgency of the MineHub platform as a solution for mitigating against the impact of these conditions. We bring to market one of the most proven innovative solutions for supply chains and we expect this to result in revenue growth in the near future. In addition, we will continue to execute on our strategy and roadmap, including:
- Growing our value and use in the copper industry, particularly in the industrial supply chains connecting Chile to China and Japan
- Expanding our footprint in iron ore flows to China
- Further roll-out of ESG functionality, including scope 3 emissions accounting and carbon offsetting
- Developing pricing and invoicing capability connecting to existing user flows, ex: Assay Exchange
- Launching our finance syndication platform
- Innovating in tokenisation, digital assets and connecting DeFi liquidity as working capital for physical commodity supply chains
- Expecting transition to revenue and readiness for scaling
As a company, we have never been more optimistic and confident than we are now, and we thank our shareholders, partners, customers and our team for getting us to this point.
About MineHub Technologies
MineHub is an open, enterprise-grade platform for digital trade, bringing efficiency, security and responsibility to mining and metals supply chains. MineHub connects the many parties involved in a physical commodity transaction in a digitally integrated workflow, operating on the basis of shared information secured by a global enterprise blockchain network. Users of MineHub are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to customer needs and have confidence in the resilience, security and compliance of their operations.
Arnoud Star Busmann
CEO, MineHub Technologies Inc.
RB Milestone Group, LLC (RBMG) at email@example.com