MineHub has gone live with Codelco’s global refined copper business, representing a significant validation of MineHub’s technology platform
Vancouver, B.C., November 8, 2023. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”), a leading provider of digital supply chain solutions for the commodity markets, is pleased to announce the successful launch of its cutting-edge platform with Corporación Nacional del Cobre de Chile (“Codelco”), the largest copper producer in the world. Further to the Company’s press release dated August 9th, announcing MineHub was awarded a three-year contract with Codelco, the Company has now implemented and gone live with Codelco ushering in a new era of efficiency and transparency in the mining industry.
MineHub’s contract with Codelco is aimed at digitizing its global refined copper business, representing a significant validation of MineHub’s technology platform. Through MineHub’s advanced technology, Codelco will now be able to offer its customers heightened visibility, traceability, and operational efficiencies, elevating the overall customer experience.
Andrea Aranguren, CEO of MineHub commented, “We are thrilled to mark this milestone with the launch of our platform at Codelco. This implementation represents a significant leap forward for the mining industry, empowering stakeholders with powerful tools to optimize their operations and enhance their overall experience. Codelco’s three-year commitment to MineHub is a huge testament to the dedication and expertise of our team, as well as the trust placed in us by Codelco.”
Codelco’s initial group of customers has now been onboarded onto the MineHub platform, with the remaining expected to be onboarded shortly after. Codelco’s initial group of customers, which includes its largest and most critical stakeholders, will be the first to experience the transformative capabilities of the platform. Through this innovative solution, customers will have unprecedented access to a range of features designed to streamline operations and enhance collaboration, including the following capabilities:
- View their purchases with Codelco, along with all pertinent contractual documents
- Monitor the status of their Codelco orders, providing real-time updates on quantities in transit, delivered, and remaining on order
- Digitally manage monthly quota volumes, ensuring seamless compliance with production targets
- Access and track all Codelco shipments, complete with real-time Estimated Time of Arrivals (ETAs) for precise logistics planning
- Efficiently handle and manage shipping documents related to Codelco shipments
MineHub’s SaaS-based platform currently provides seamless order processing, real-time shipment tracking, inventory management and reporting for the commodities ecosystem by automating data connections between customers and their entire supply chains. At current London Metal Exchange copper prices, the total value of the copper integrated into the platform surpasses an impressive $3.5 billion USD (4.8 billion CAD). This milestone demonstrates the immense scale and economic impact of the platform, highlighting its potential to revolutionize the way the industry conducts business.
With this launch, MineHub reaffirms its commitment to driving innovation in the mining sector, setting a new standard for operational excellence and customer satisfaction. The platform’s user-friendly interface and robust features will undoubtedly redefine the way stakeholders interact with Codelco, fostering greater trust and collaboration.
Codelco is the largest copper producer in the world. Its main activity is to explore, develop and exploit mining resources; process them to produce refined copper and by-products, and market them to customers around the world. It has assets of US$44.7 billion and equity of US$11.7 billion as of December 2022. It operates in seven mining divisions in Chile: Chuquicamata, Ministro Hales, Radomiro Tomic, Gabriela Mistral, Salvador, Andina and El Teniente, in addition to the Ventanas Smelter and Refinery.
About MineHub Technologies
MineHub and Waybridge are enterprise-grade solutions connecting all parties along the physical commodities supply chain. They replace existing processes in which thousands of data interactions and scores of documents are shared amongst counterparties by fax, phone and e-mail. By digitizing the complex workflow among participants in a physical commodity transaction, MineHub brings efficiency and security to the mining and metals supply chain. MineHub solutions allow firms to create data that is useable, shareable, verifiable and unforgeable. Global enterprises already use MineHub and Waybridge as part of their logistics, compliance, trade management and financing operations.
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email firstname.lastname@example.org or visit our website at www.minehub.com. Tel: (604) 628-5623.