Vancouver, British Columbia–(Newsfile Corp. – May 17, 2022) – MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) (“MineHub” or the “Company”) is pleased to announce that it now supports the full seaborne market by enabling container-based transactions and shipments on its blockchain-based platform for supply chains.
By using the MineHub solution, users get real-time visibility of the location of their container shipments and other data points like shipment status and crucially, estimated time of arrival. This capability transforms customer experience, frees up time in operations, increases supply chain resilience and enhances risk control for financiers and insurers.
Arnoud Star Busmann, CEO at MineHub said: “80% of the world’s goods are transported via oceans. Being able to support container-based transactions unlocks a much bigger market, as many of the world’s commodities and products are shipped in containers. It also demonstrates the flexibility of the MineHub platform as well as its speed to market, having developed this capability within two months and tested it live with several industry leaders.”
The initial release of the MineHub platform focused on raw materials like iron ore and metal concentrates that are shipped from the mines to smelters in bulk vessels. The evolution to add and support container-based shipments follows the growth of MineHub’s user-base to include downstream producers and consumers of metals in major industrial categories like copper cathodes.
This new functionality brings the current benefits of the MineHub platform to users that sell, buy or finance container-based shipments, unlocking benefits like:
- Real-time visibility of location and ETA remove manual processes and work from operations teams
- Optimisation of production planning through real-time overview of inbound inventory of real
- Credit and fraud risk mitigation through real-time visibility of collateral
- Include emissions from the container logistics in the Scope 3 emissions of a transaction
To supplement this release, Minehub will soon support an open digital standard for electronic Bills of Lading which was developed and published by the Digital Container Shipping Association (DCSA), a nonprofit group backed by the largest container-carriers.
About MineHub Technologies
MineHub is an open, enterprise-grade platform for digital trade, bringing efficiency, security and responsibility to mining and metals supply chains. MineHub connects the many parties involved in a physical commodity transaction in a digitally integrated workflow, operating on the basis of shared 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.
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.