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MineHub unveils mining and metals technology platform

October 16, 2019

Press Releases

MineHub Technologies has launched its blockchain technology platform, which has been designed to tackle inefficiencies in trading operations, as well as environmental and social governance (ESG) compliance, in mining and metals supply chains.

MineHub has been working in collaboration with its consortium members IBM and other industry participants, including ING Group, Wheaton Precious Metals, Ocean Partners, Kutcho Copper, Capstone Mining and White & Case to develop the platform.

The platform is now live and available to industry participants, with initial usage and transactions with consortium members expected to start within the next few weeks.

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The Platform

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Inventory management
  • Integrated with trade management enables with automated updates of inventory with stock inflows and outflows
  • Forecast inventory levels to avoid stockouts
  • Optimize working capital through minimizing excess stock levels
  • Remove spreadsheets, reconciliation communications and operational risk of manual updates

Trade Management

Buyers and sellers of commodities collaborate on all aspects of their term contracts and transaction in one place, enabling all parties involved in a transaction to always be on the same page, in real-time

Benefits

  • Real-time visibility of all shipments across oceans and land – location and ETA
  • Secure exchange of key documents
  • Keep all communications related to the transaction with the transaction data set
  • Notifications of key events
  • One version of the truth – no need to reconcile and check