MineHub Technologies has completed development of its technology platform designed to improve efficiency in trading operations as well as environmental and social governance compliance in mining and metals supply chains.

The company says it wants to standardise, structure and digitalise trading administration, including letters of credit (L/Cs).

Collaborative effort

Minehub says it has been working on the platform in collaboration with IBM and key links in the mining supply chain including ING Group, Wheaton Precious Metals, Ocean Partners USA, Kutcho Copper, Capstone Mining and White & Case.

The MineHub Platform technology is now live, with consortium members expected to start using and transacting on it in the next few weeks. New users are also anticipated.

Capabilities

The platform enables miners to capture mineral production and streamline financing, logistics and post-trade operations, including document flow.

As well as helping to facilitate L/C transactions, the platform also aims standardise, structure and digitalise marketing and trading administration, including contracts, trade confirmations, assays, logistics and shipping documents.

This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.