Vancouver, B.C., April 5, 2022. MineHub Technologies Inc. (TSXV: MHUB, OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce that global metals industry leaders China Minmetals, Zijin Mining and resources company BHP have concluded a two-step transaction on MineHub’s blockchain-based platform.
It is the first transaction of its kind in which:
- a copper concentrate shipment was purchased by China Minmetals from BHP, then on-sold to Zijin Mining for smelting, with both the purchase and the sale transactions completed on the same platform. This also marks the first transaction involving a smelter for their procurement
- MineHub’s blockchain-based platform was used for a transaction between two Chinese companies, for a cargo originating from a global mining company
- the companies shared greenhouse gas (GHG) emissions estimates and data, including estimates of the scope 1 and 2 GHG emissions associated with the production of the cargo, down the chain to the end buyer Zijin Mining
The parties also used MineHub’s assay exchange application in the transaction settlement. As this unique innovation matures and the adoption of MineHub’s platform continues to increase in the copper market, it has the potential to become the de facto standard for post trade settlements in the industry.
Arnoud Star Busmann, CEO at MineHub Technologies said “We feel a real momentum building up in the copper market around our platform and the assay exchange and ESG applications. Working with the teams at Zijin Mining, China Minmetals and BHP is another high-profile opportunity accelerating the innovation, development and adoption of our solutions and therefore the value of the MineHub platform for the global concentrates market.”
About Zijin Mining
Formed in 1993 and based in Fujian, China, Zijin Ming is one of the largest mining companies in China as well as a leading global gold and copper producer. It manages an extensive portfolio, primarily consisting of gold, copper, zinc, and other metals through investments in China and thirteen overseas countries across Europe, Central Asia, Africa, Oceania and South America. Listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, Zijin Mining has a market capitalization of approximately US$40 billion.
About China Minmetals
China Minmetals Corporation was founded in 1950. It is a key state-owned enterprise directly managed by the central government with metals and minerals as its core business, and a pilot state-owned capital investment company. By the end of 2021, China Minmetals had total assets of approximately US$160 billion and 8 listed companies, including MCC publicly listed on the Shanghai Stock Exchange and the Hong Kong Stock Exchange, five mainland-listed companies, namely, Minmetals Capital, Minmetals Development , China Tungsten High-tech , Zhuzhou Smelter Group and Changyuan Lico, as well as Minmetals Resources and Minmetals Land listed in Hong Kong. In 2021, it had operating revenue of approximately US$135 billion, ranking 65th among the Fortune Global 500 companies.
BHP’s global headquarters are located in Melbourne, Australia. BHP has a compact and diversified portfolio of high-quality assets around the world, offering low-cost options for future economic growth and value creation. The company’s resource exploration and development operations are primarily located in Australia and the Americas, and sell the products globally through marketing centers in Singapore, Houston, USA. BHP delivered strong financial results in fiscal 2021 and reported profit from operations of approximately US$26 billion.
About MineHub Technologies
MineHub is an open, enterprise-grade platform for digital trade, bringing efficiency, transparency and responsibility to supply chains. MineHub connects the many parties involved in a physical commodity transaction in a digitally integrated workflow, operating on the basis of shared authentic and validated 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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Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that are considered “forward-looking information” within the meaning of applicable Canadian securities legislation (“forward-looking statements”) with respect to MineHub including, but not limited to, statements with respect to MineHub’s future operational plans, the timing of such plans and anticipated customers. Forward-looking statements are statements that are not historical facts are generally, but not always, identiﬁed by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although MineHub believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its operations, applications and for general working capital purposes, changes in economic conditions or ﬁnancial markets, changes in laws or regulations that could have an impact on the Company’s operations, dependence on its key management personnel and market competition. Other risk factors are identified in the Company’s prospectus dated August 18, 2021, available on the Company’s SEDAR profile at www.sedar.com. There may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. The forward-looking information is made as of the date included herein.. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of MineHub’s management on the date the statements are made. However, except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change.