Sumitomo Corp. Invests C$1M in Tiny 25-cent Mining Tech Firm

MineHub Technologies Inc. (TSX-V: MHUB)(OTC: MHUBF), currently trading around C$0.23 per share, has announced that Sumitomo Corp. — one of Japan’s largest corporations — has contributed C$1M, non-dilutive, toward a previously announced commercial relationship between the two firms for the joint acceleration of MineHub’s first-of-its-kind digital solution to the global commodities supply chain sector.  

Incredibly, in a world where practically everything is digitized, the global commodities industry still operates on paper transactions, spreadsheets, and telephone calls — and thus, an industry-wide digital solution has been long overdue. 

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To that end, the two firms have been collaborating on the development of a suite of digital solutions with an initial focus on the copper concentrates market, including the Assay Exchange solution, which connects buyers and sellers in a first-ever integrated and secure digital workflow.

Sumitomo Corp. Invests C$1M in Tiny 25-cent Mining Tech Firm.

MineHub Technologies CEO Arnoud Star Busmann had this to say via press release:

“Receiving such a capital injection from a global corporation and industry leader like Sumitomo is incredible validation of our vision and the value that our solutions can bring to our customers and the industry overall. This will accelerate not only our continued product enhancement, but it will also increase our market engagement capacity. With Sumitomo Corporation actively using the platform in their day-to-day operations, we will be able to help connect one of the largest business networks in the mining & metals industry onto a common digital standard. Starting with copper concentrates, then expanding into other commodities.”

Takeshi Ishimaru, GM Non-ferrous Metals and Raw Materials at Sumitomo, added:

“Digitization of the metal concentrates market is very important for our business and our customers. But that can only happen if the industry adopts a common standard, and we believe that the MineHub platform and the Concentrates Application is the clear and only candidate to become that standard. Therefore, we are happy to contribute this funding in order to accelerate the industry adoption of the MineHub platform and with that our digital transformation mission.”

In addition to the Sumitomo collaboration, MineHub has contracted with a number of mining industry leaders, including BHP (US$300B capitalization) and Codelco (the world’s #1 copper producer), to name just a couple, to create a digitized industry standard for the movement of metals and other commodities around the globe. 

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MineHub anticipates having over 130 companies on its platform by the end of this year with expectations for accelerated user growth and revenue growth over the coming quarters. 

For speculators seeking exposure to the multi-$billion commodities supply chain sector, MineHub Technologies offers exceptional upside potential as it brings to market its wide-reaching digitized platform to serve the worldwide commodities industry. 

Our own Gerardo Del Real of Junior Resource Monthly caught up with MineHub Technologies executive chairman Vince Sorace to go over the Sumitomo news along with next-steps in the acceleration of the MineHub platform across the industry. 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 2023 Corporate Presentation here.

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

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