- MineHub's strategic partnership with leading mining and commodity labs signifies a crucial step towards digitizing the supply chain, aiming to enhance operational efficiencies, minimize risks, and boost profitability for clients.
- This collaboration includes key lab partners such as ALS Global, one of the world's largest analytical and testing services businesses with a multi-billion dollar market capitalization.
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2023) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company"), a leading provider of digital supply chain solutions for the commodity markets, is pleased to announce its strategic partnership with several prominent mining and commodity analysis laboratories. The collaboration involves signed contracts with multiple labs that collectively represent the majority of mining and commodity analysis for MineHub's esteemed customers. One of the key labs in this venture is ALS Global ("ALS"), headquartered in Brisbane, Australia, with global operations in Houston, Texas, USA.
Streamlining the assay exchange process provides MineHub users with a seamless digital solution for shipment nominations, accelerating workflows, and reducing manual efforts while maintaining transparency and industry integrity. Connecting multiple mining and commodity labs to the MineHub ecosystem is a pivotal step that enhances the value proposition to the supply chain. This integration allows MineHub to seamlessly incorporate the chemical results of commodities being assayed, offering unparalleled benefits to its customers, particularly large mining companies utilizing MineHub's assay exchange functionality.
Andrea Aranguren, CEO of MineHub, stated, "The essential integration of MineHub's platform with key labs emphasizes the critical need to digitize the supply chain. This highlights the apparent inefficiency of today's manual processes. As part of this initiative, MineHub is at the forefront of spearheading the digital transformation of the supply chain, strategically optimizing operations, mitigating risks, and ultimately increasing profitability for our valued customers. Moreover, ALS's adoption of cutting-edge technology and innovative methodologies ensures the delivery of the highest quality services, making them an ideal partner for MineHub's digitization journey."
Gale Smith, Executive General Manager of ALS, expresses enthusiasm about the integrated services, stating, "ALS Global believes the integrated services provided by MineHub will create greater efficiency as well as contributing to the innovation and integrity of the industry."
By ensuring connectivity with these labs, MineHub empowers its users with a seamless and digital solution to nominate a trusted third party, or Umpire,(1) for a shipment. This transformative process accelerates timelines, reduces the volume of emails inundating inboxes, and provides data back from labs in a digital format, eliminating the reliance on cumbersome spreadsheets.
Noteworthy benefits of this integration include:
- Efficiency Boost: Streamlining the nomination process accelerates the entire workflow.
- Reduced Email Volume: Minimizing the need for email communication streamlines operations.
- Digital Data Retrieval: Accessing data in digital formats expedites decision-making.
- Automated Assay Table Generation: The platform automatically generates a final assay table, minimizing manual efforts.
- Seamless Integration with ETRM/Invoicing Solutions: Direct data transfer via APIs reduces human entry errors and operational risks.
(1) Umpire refers to an impartial and trusted third party that is designated to settle disputes or discrepancies that may arise in the assay results or commodity data exchanged between different parties in the supply chain. The role of the Umpire is to provide an unbiased assessment and resolution, which helps maintain transparency, integrity, and trust in the overall process of commodity analysis and exchange within the industry.
About MineHub Technologies
MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.
About ALS Global
ALS Global, with over 40 years of experience, stands as a trusted third-party laboratory providing comprehensive testing solutions worldwide. ALS is the global benchmark for quality and integrity in the scientific testing and analysis sector. ALS operates one of the world's largest analytical and testing services businesses with more than 350 sites in over 65 countries across the globe. We are focused on driving growth by continuing to successfully operate our existing businesses through innovation and the pursuit of new opportunities. ALS is an ASX100 company with a multi-billion-dollar market capitalisation.
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email firstname.lastname@example.org or visit our website at www.minehub.com. Tel: (604) 628-5623
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 management discussion and analysis, 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. Although the Company has attempted to identify risk factors that could cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date included herein, and the Company assumes no obligation to publicly update or revise such forward-looking information. 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.
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