Mike Fagan,
Editor
Aug. 6, 2024
MineHub Technologies Inc. (TSX-V: MHUB)(OTC: MHUBF) — currently trading around C$0.33 per share — has announced a strategic partnership with Abaxx Technologies with the aim of driving digitization more broadly within the physical commodities markets.
The synergies created will focus on facilitating MHUB’s entry into commodities markets beyond copper and aluminum.
With a continued focus on the digitization of the global commodities supply chain market, the two companies are combining forces to improve data transparency and to empower market participants with enhanced tools for meeting the ever-evolving commodities landscape, which faces new challenges such as the energy transition and increased regulatory pressure.
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MineHub Technologies CEO Andrea Aranguren commented on the new strategic alliance with Abaxx via press release:
“We are energized by the vast number of exciting collaboration opportunities unlocked by partnering with Abaxx. By leveraging each other’s strengths and capabilities, together we can capitalize on existing market momentum to expedite the adoption of our tool sets and maximize the value that we can deliver to our customers.”
Via enhanced synergies in tracking production, supply, transport, and emissions from the mine site to the end-user across multiple commodities, the collaborative effort will initially focus on:
- Exploring data integration between Abaxx’s digital tools and MineHub’s well-established Waybridge platform
- Leveraging Abaxx’s ID++ identity protocol to enrich MHUB’s digital communication tools
- Bolstering the physical commodities market’s ability to meet progressing requirements related to sustainability and ESG
- Enabling secure and efficient hedging by creating a bridge between physical and financial commodities data while preserving customer data privacy
- Promoting compliance within a new and ever-evolving global regulatory landscape
Abaxx CEO Josh Crumb — a former executive director and senior metals strategist at Goldman Sachs — added,
“Smarter markets require smarter commodity data and the ability to trace commodities through their supply chains. MineHub has built a best-in-class team providing secure digitally integrated workflows for physical supply chains. We look forward to working with MineHub to bring our shared resources to this shared vision.”
Upon completion of the share exchange agreement, MineHub will have ~85 million shares outstanding and ~C$5.5 million in the treasury. Full details of the agreement can be found here.
Abaxx has a current market cap of ~C$375 million and runs a Singapore-based commodities exchange that “seeks to create the new benchmark commodities futures contracts — the Henry Hubs and TTFs, the WTIs and Brents — of the globalized natural gas market and the energy transition commodities for the next decade and beyond.”
Under the new strategic alliance with Abaxx, MineHub Technologies, which is now boosted in its ability to expand into additional physical commodity markets via its digitized commodities supply chain platform, continues to elevate its profile as one-to-watch in what’s shaping up to be a multi-year commodities supercycle.
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As promised, our own Gerardo Del Real of Junior Resource Monthly caught up with MineHub Technologies CEO Andrea Aranguren to discuss the new strategic partnership with Abaxx Technologies. Please enjoy!
For additional information on Vancouver-based MineHub Technologies Inc., be sure to contact the company’s IR department here.
Sign up to receive updates directly from the company at the MineHub corporate website and view the most recent Corporate Presentation here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Click here to see more from MineHub Technologies