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New York, NY – December 2, 2021 – ESG factors are a common consideration among investors today as efforts towards mitigating climate change intensify. With the changing investor preferences, companies in the metals and mining sector are seeing the need to track their emissions throughout the supply chain. To this end, Hatch invested in the tech startup, Brainnwave to develop a solution for metals & mining, infrastructure, and energy sectors. Technology companies like MineHub Technologies Inc. (TSXV:MHUB) (OTCQB:MHUBF) are also developing solutions for the mining sector. With these developments, metal mining companies like Triterras Inc. (NASDAQ:TRIT), American Battery Technology Company (OTCQB:ABML), BHP (NYSE:BHP), and Accenture (NYSE:ACN) stand to benefit from the growing technology solutions geared for mining supply chains.
MineHub Technologies Inc. (TSXV:MHUB) (OTCQB:MHUBF) is the first publicly-traded pure play on an end-to-end digital supply chain solution for the mining and metals industry. On December 2, the company bolstered its services through a partnership with Spire Global, a leading global provider of space-based data, analytics, and space services.
Through the agreement, MineHub will use Spire Global’s satellite and terrestrial Automatic Identification System data (AIS), global vessel tracking data and vessel characteristics, to help power its commodities platform and optimize routing for bulk carrier vessels. This partnership will bring improved vessel data efficiency across the open ocean to the mining and metals supply chains.
On November 30, MineHub announced that the MineHub Trade Finance application has been used by Kimura Capital, a leading alternative financier for physical commodity markets, and its client PY Commodities to finance three consecutive shipments of silver concentrate from Peru to China.
MineHub also recently launched a contract management solution for metals and mining supply chains. Its contract management solution will digitize and streamline key contracts in shipment and transaction terms. The solution is built on blockchain technology to provide an immutable trail of agreements, disagreements, terms, and proposals made during contract negotiations during various transactions.
Since most of the transactions in metals and mining are based on annual term contracts, a solution such as MineHub’s provides parties in the contract with an audit trail of terms, agreements, and changes made in a contract. Since the solution is based on the blockchain they are unchangeable, thus traceable throughout the term of the contract.
“The MineHub platform has been designed to support post-trade operations of commodity supply chain transactions,” explained MineHub’s CEO, Arnoud Star Busmann. “Each one of these starts with a contract. If you have a large number of contracts with many different customers or suppliers, and multiple transactions or shipments under each contract – keeping track of it all in real-time is a task that begs for automation and digitalization.”
This new solution marks an addition to MineHub’s blockchain-based solutions for digitizing the metals and mining sector. In a previous release, the company announced the launch of the Assay Exchange for base metal concentrates.
With the Assay Exchange users can save administration costs and time, reduce fraud, faster risk mitigation, and better access to capital. The company also launched its Trade Finance application in early November.
These new initiatives are part of MineHub’s growing investments in adding value to the MineHub platform as it seeks to bring transparency, resilience, and responsibility to the mining sector.
For more information about MineHub Technologies Inc. (TSXV:MHUB) (OTCQB:MHUBF), click here.
ESG Concerns Drive Innovations in Mining and Metals
Minerals and lithium-ion battery recycling company American Battery Technology Company (OTCQB:ABML) is continuing to make progress with its pre-commercial battery recycling plan with the approval of its Core and Shell Building Permit. The company can now move to the next step of the project including the construction and commissioning of its lithium-ion battery recycling plant, which will have three functional building areas totalling 100,000 sq. ft. in floor space. The facility is anticipated to process 20,000 metric tons of feedstock annually using the company’s closed loop-battery recycling process.
Earlier this year, Triterras Inc. (NASDAQ:TRIT), the fintech company behind Kratos, one of the world’s largest commodity trading and trade finance platforms, announced a collaboration with paperless global trade management company essDOCS to digitize bulk cargo trade operations for its global community of commodity traders. Through the agreement, Triterras will integrate essDOCS’ CargoDocs electronic document capabilities onto Kratos, enabling customers to create, review and approve paper or electronic bills of lading (eB/L) with their supply chain.
Mining giant BHP (NYSE:BHP) is collaborating with leading US copper cable and wire manufacturer, Southwire to develop the first carbon-neutral copper cathode delivery transaction from BHP’s Chile Mine to Southwire’s processing facility in Georgia. The transaction is part of an MOU between the two companies in pursuit of BHP’s Climate Transition Action Plan. The pilot aims to leverage BHP’s carbon offsetting capabilities to offer Southwire a carbon neutral copper product during the transition period.
Accenture (NYSE:ACN) acquired T.A. Cook to strengthen its asset performance management capabilities for clients in capital-intensive industries. Through the acquisition, Accenture will be in a better position to provide better asset performance, increased safety, and reduced environmental impacts in life science, oil and gas, and metals and mining industries. This acquisition marks the 26th acquisition the company has made since 2017.
The metals and mining sector has long relied on outdated manual systems, but companies like MineHub are stepping in to provide digital solutions to streamline these processes. The company has developed blockchain solutions for the sector that also provides traceability across the supply chain.
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