The London Metal Exchange’s drive for transparency is a regulatory change that is likely to have a transformative impact on metal supply chains. Those parties that can comply, and prove compliance may see rewards in the commodity prices in the transition to the new regime, which will encourage other parties to speed up compliance. But as outlined in this article, the regulation should not just benefit those parties that have the resources to ensure compliance.

A key part of Minehub’s mission is to enable smaller producers and supply chain actors to automate the ability to prove compliance. By moving the post-trade settlement of mineral transactions to the digital world of Minehub, users get more than an efficiency and security benefit – the provenance capability will help enable their customers to verify compliance with the LME guidelines.

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
Arnoud Star Busmann is one of the pioneers in the intersection of commodities, finance and blockchain technology. Prior to joining Minehub, he was the Innovation lead for Commodities at ING Bank where he led the cross-industry initiative ‘Easy Trading Connect” that spawned projects like VAKT and komgo. Arnoud is an all-round executive with tech DNA, and has over 20 years experience in strategy execution, enterprise transformation and “blue chip” startups. After obtaining a master’s degree in Computer Science from the Netherlands, he lived and worked across Europe, Asia and Oceania.