MineHub launches assay exchange solution for base metal concentrate transactions

MineHub Technologies announced the launch of its Assay Exchange application for base metal supply chains. The solution is the first in a series of network applications for concentrates transactions the company intends to roll out over the next months.

MineHub Assay Exchange is an enterprise application designed to digitalize and streamline the assay exchange process between buyer, seller and labs in base metal concentrate transactions. The application is integrated with the core MineHub platform and is provided as an additional offering to further increase the value of the MineHub platform to its users.

MineHub is an open, enterprise-grade platform for digital trade, bringing efficiency, transparency and responsibility to mining and metals supply chains. The platform connects the many parties involved in physical commodity transactions in a digitally integrated workflow by operating on the basis of shared information, secured by a global enterprise blockchain network. This provides greater efficiency, security and transparency relative to the current paper-based and manual processes.

Benefits of the MineHub Assay Exchange include:

• Reduce or eliminate manual rekeying of assay data through digital integration and automation;
• Minimize working capital wastage by reducing the time to final invoice;
• Optimize costs of assay and umpire processes;
• Optimize final assay composition;  and
• Optimize contracting, umpire strategies and value of the transactions through analytics

The MineHub Assay Exchange application will provide its users with automation opportunities through digitalisation of this iterative workflow and information exchange.

Book a demo at www.MineHub.com.