Vancouver, B.C. & Swieqi, Malta – 07 May 2020: MineHub Technologies Inc.’s innovative technology platform that aims to transform mining and metals supply chains is pleased to announce its collaboration with the global paperless trade provider, essDOCS.
Like other commodity trading industries, metals and mining supply chains are frequently cross-border and cross-legal jurisdiction. Paper documents are unfortunately still the most common way information is exchanged between parties. Current global events have emphasized that digital trade is no longer optional, but is becoming a business continuity if not health & safety imperative.
MineHub has developed a platform that enables the parties in a mineral transaction to operate an integrated digital trade execution process, including contracting, logistics, specifications and financing. This inter-company integration gives real-time visibility to shared information, thereby bringing trust and transformative efficiency to mining & metals supply chains. The underlying blockchain technology ensures that each party can control the privacy of their data, whilst allowing trading parties to verify the integrity of shared information. Trade documents play a critical role in commodity trade operations, and as such the integrity of these shared information assets is essential.
essDOCS has been trailblazing trade document digitization for many years, as is reflected in the rich functionality of its solutions and size of its customer network. The strategic collaboration between the two companies is highly complementary and extends the respective ecosystems with a holistic service for their overlapping userbase. Similarly, the companies expect that the natural synergy will accelerate adoption of both solutions and enable further global expansion of the digital mining and metals ecosystem.
essDOCS users can soon further integrate digitally with their supply chain via MineHub, directly accessing the MineHub user network and with the option to access mine-to-port digital solutions in addition to trade finance-related offerings via a dedicated utility service. Vice versa, MineHub users will benefit from the deep, extensive functionality and reach of essDOCS’ CargoDocs platform, including access to its industry-leading electronic Bill of Lading (eB/L) solution and user network – the largest and most expansive industry network of its kind.
Arnoud Star Busmann, CEO at MineHub, said: “essDOCS is clearly the leading solution in digital trade documents, including eB/Ls. Integrating with such a complementary technology business will immediately enrich and extend the MineHub user proposition. And it shows the open nature and partnership philosophy of the MineHub platform. User value creation can only be accelerated and achieved through collaboration and creating optionality. Via this collaboration our combined solutions will enrich the overall MineHub offering for users and further drive digitalisation leading to greater efficiencies and supply chain transformation.”
Alexander Goulandris, CEO at essDOCS, said: “We are very excited about working with MineHub as they have already demonstrated the ability to onboard significant players within the industry, many of whom are already clients of essDOCS. The natural synergies between our companies and joint offerings will further accelerate the digital transformation of metals and mining supply chains, helping stakeholders realize significant benefits through paperless trade in these challenging times.”
MineHub Technologies is an innovative technology company focused on improving efficiency in the mining and metals supply chain and bringing trust to the management and trading of natural resources. MineHub’s core services digitise the key interactions between participants, bringing automation, cost savings, security, ESG and regulatory compliance to a large set of stakeholders.
essDOCS enables paperless trade. Its solutions digitize and automate paper-heavy processes, including: online creation/approvals/management of all export documents (CargoDocs DocHub), data extraction and structure from paper documents and back-office automated checks (CargoDocs Auto-Document Processing), end-to-end eDocs management for original electronic trade documents such as Bills of Lading and Warehouse Warrants (CargoDocs DocEx), application/issuance of electronic Certificates of Origin (essCert) and fully digital documentary trade finance or supply chain finance under URBPO (Cmatch).
Over 48,000 companies, ranging from 31% of the Fortune Global 100 to innovative SMEs, use essDOCS solutions across 203 countries.
Arnoud Star Busmann, CEO, MineHub
Nicholas Demetriou, CMO, essDOCS
+30 210 724 5960