- MineHub has gone live with Codelco's global refined copper business, representing a significant validation of MineHub's technology platform
Vancouver, British Columbia--(Newsfile Corp. - November 8, 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 the successful launch of its cutting-edge platform with Corporación Nacional del Cobre de Chile ("Codelco"), the largest copper producer in the world. Further to the Company's press release dated August 9th, announcing MineHub was awarded a three-year contract with Codelco, the Company has now implemented and gone live with Codelco ushering in a new era of efficiency and transparency in the mining industry.
MineHub's contract with Codelco is aimed at digitizing its global refined copper business, representing a significant validation of MineHub's technology platform. Through MineHub's advanced technology, Codelco will now be able to offer its customers heightened visibility, traceability, and operational efficiencies, elevating the overall customer experience.
Andrea Aranguren, CEO of MineHub commented, "We are thrilled to mark this milestone with the launch of our platform at Codelco. This implementation represents a significant leap forward for the mining industry, empowering stakeholders with powerful tools to optimize their operations and enhance their overall experience. Codelco's three-year commitment to MineHub is a huge testament to the dedication and expertise of our team, as well as the trust placed in us by Codelco."
Codelco's initial group of customers has now been onboarded onto the MineHub platform, with the remaining expected to be onboarded shortly after. Codelco's initial group of customers, which includes its largest and most critical stakeholders, will be the first to experience the transformative capabilities of the platform. Through this innovative solution, customers will have unprecedented access to a range of features designed to streamline operations and enhance collaboration, including the following capabilities:
- View their purchases with Codelco, along with all pertinent contractual documents
- Monitor the status of their Codelco orders, providing real-time updates on quantities in transit, delivered, and remaining on order
- Digitally manage monthly quota volumes, ensuring seamless compliance with production targets
- Access and track all Codelco shipments, complete with real-time Estimated Time of Arrivals (ETAs) for precise logistics planning
- Efficiently handle and manage shipping documents related to Codelco shipments
MineHub's SaaS-based platform currently provides seamless order processing, real-time shipment tracking, inventory management and reporting for the commodities ecosystem by automating data connections between customers and their entire supply chains. At current London Metal Exchange copper prices, the total value of the copper integrated into the platform surpasses an impressive $3.5 billion USD (4.8 billion CAD). This milestone demonstrates the immense scale and economic impact of the platform, highlighting its potential to revolutionize the way the industry conducts business.
With this launch, MineHub reaffirms its commitment to driving innovation in the mining sector, setting a new standard for operational excellence and customer satisfaction. The platform's user-friendly interface and robust features will undoubtedly redefine the way stakeholders interact with Codelco, fostering greater trust and collaboration.
Codelco is the largest copper producer in the world. Its main activity is to explore, develop and exploit mining resources; process them to produce refined copper and by-products, and market them to customers around the world. It has assets of US$44.7 billion and equity of US$11.7 billion as of December 2022. It operates in seven mining divisions in Chile: Chuquicamata, Ministro Hales, Radomiro Tomic, Gabriela Mistral, Salvador, Andina and El Teniente, in addition to the Ventanas Smelter and Refinery.
About MineHub Technologies
MineHub and Waybridge are enterprise-grade solutions connecting all parties along the physical commodities supply chain. They replace existing processes in which thousands of data interactions and scores of documents are shared amongst counterparties by fax, phone and e-mail. By digitizing the complex workflow among participants in a physical commodity transaction, MineHub brings efficiency and security to the mining and metals supply chain. MineHub solutions allow firms to create data that is useable, shareable, verifiable and unforgeable. Global enterprises already use MineHub and Waybridge as part of their logistics, compliance, trade management and financing operations.
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 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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