MineHub signs agreement with major Chinese smelter for the use of MineHub's Trade Management Platform
Vancouver, British Columbia--(Newsfile Corp. - September 26, 2024) - 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 that it has signed an agreement with its first Chinese smelting company (the "Smelter") as a user of MineHub's Trade Management Platform. This marks an important milestone in the Company's expansion into the Chinese copper market. China is the by far the world's largest consumer of copper, representing approximately 57% of global copper consumption in 2023 and accounts for nearly 8.7 million metric tons of copper demand 1. With the largest smelting capacity in the world and a robust domestic manufacturing supply chain, China is a critical market for the global copper ecosystem.
The Smelter, who prefers to remain unnamed at this time, processes, manufactures and distributes copper products. Through MineHub's advanced technology, the Smelter will be benefit from heightened visibility, traceability, and operational efficiencies. Specifically, they will leverage MineHub's digital contract management, real-time shipment visibility, and document management functionality to facilitate their orders and logistical operations with MineHub customers.
Andrea Aranguren, CEO of MineHub, expressed excitement about the new contract, "We are thrilled to onboard our first Chinese smelting company onto the platform. China is a significant target market for MineHub given its scale and importance in commodities markets, and this partnership marks an important step forward in penetrating the Chinese copper market."
Given the Smelter's data security standards, this represents a significant validation of the high level of security and adaptability of the MineHub platform's capabilities. Our cloud-based, secure trade management platform and suite of tools is SOC II-Type 2 certified and regularly tested for vulnerabilities and updates.
The Smelter expects to integrate its refined copper business onto the MineHub platform starting with a key supplier in Asia. This strategic move underscores the growing commitment of Chinese companies to leverage digital solutions for optimizing operations and enhancing efficiency.
About MineHub
MineHub is the digital supply chain platform for the commodity markets, making raw material supply chains more efficient, resilient and sustainable. 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.
Andrea Aranguren
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@minehub.com 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.sedarplus.ca. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224591