Codelco selects MineHub’s Waybridge platform to digitize copper sales

Corporación Nacional del Cobre de Chile (Codelco) has selected MineHub Technologies’(TSXV: MHUB; OTCQB: MHUBF) Waybridge platform as Codelco's global commercial platform, following a successful pilot. Codelco will utilize the Waybridge to digitize 100% of its global refined copper business. 

The software-as-a-service Waybridge platform currently provides 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. Waybridge has over 90 companies interacting digitally on its platform, including leading global manufacturers, as well as major miners, warehouses, and shipping companies. In 2022, Waybridge customers managed more than $7 billion of raw materials via the platform. 

The Waybridge platform will enable Codelco and its customers to: 

• Collaborate and share transactional information via a secure digital platform, including contract negotiations, shipping information, documentation, claims requests, invoice and payment statuses; 
• Consolidate supply chain data to ensure traceability, data analytics and ESG reporting, including CO₂ transportation calculations; 
• Improve visibility into global copper flows while enhancing the timeliness and accurate delivery of key data necessary for trade and decision optimization; and 
• Drive operational efficiency via continuous process improvement, data automation and systems integrations with its clients, service providers and strategic partners. 

Codelco is the largest copper producer in the world. From 1971 to 2021, it has generated surpluses of US$142 billion for the State of Chile (in 2021 currency). It has assets of US$43 billion and equity of US$11.6 billion as of December 2021. 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. 

"Digitalization is one of our core strategic enablers, and the benefits we aim to capture with this selection bring us several steps closer to our goal, providing more visibility and traceability to our customers. Embracing this innovation and the efficiencies it brings, the supplier-customer experience via Waybridge will tremendously enhance our customer service initiatives,” said Carlos Alvarado, CCO at Codelco. 

To learn more about Codelco, visit www.Codelco.com. To learn more about Minehub, visit www.Minehub.com.