Vancouver, B.C., May 17, 2022. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce that it now supports the full seaborne market by enabling container-based transactions and shipments on its blockchain-based platform for supply chains.
By using the MineHub solution, users get real-time visibility of the location of their container shipments and other data points like shipment status and crucially, estimated time of arrival. This capability transforms customer experience, frees up time in operations, increases supply chain resilience and enhances risk control for financiers and insurers.
Arnoud Star Busmann, CEO at MineHub said: “80% of the world’s goods are transported via oceans. Being able to support container-based transactions unlocks a much bigger market, as many of the world’s commodities and products are shipped in containers. It also demonstrates the flexibility of the MineHub platform as well as its speed to market, having developed this capability within two months and tested it live with several industry leaders.”
The initial release of the MineHub platform focused on raw materials like iron ore and metal concentrates that are shipped from the mines to smelters in bulk vessels. The evolution to add and support container-based shipments follows the growth of MineHub’s user-base to include downstream producers and consumers of metals in major industrial categories like copper cathodes.
This new functionality brings the current benefits of the MineHub platform to users that sell, buy or finance container-based shipments, unlocking benefits like:
- Real-time visibility of location and ETA remove manual processes and work from operations teams
- Optimisation of production planning through real-time overview of inbound inventory of real
- Credit and fraud risk mitigation through real-time visibility of collateral
- Include emissions from the container logistics in the Scope 3 emissions of a transaction
To supplement this release, Minehub will soon support an open digital standard for electronic Bills of Lading which was developed and published by the Digital Container Shipping Association (DCSA), a nonprofit group backed by the largest container-carriers.
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.
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