MineHub looks to solve industry problems with blockchain technology

Kutcho is joined by a senior mining company, one of the world’s largest streaming companies, an international base and precious metals and concentrates trading company specialising in trading and financing solutions for miners and smelters, and a global financial institution offering banking services to the industry in developing the hub.
Kutcho, itself, is working on its copper-zinc-silver-gold project in British Columbia, Canada, where concentrates would be produced. It believes it could realise cost savings at the project through using the hub.

The initial application of MineHub focuses on supply chain and asset management to create a secure, traceable and streamlined journey of assets from the mine site to the smelter and beyond, according to Kutcho.

The MineHub application looks to significantly reduce cost and solve issues around lack of transparency and create visibility and accountability with real-time asset information available at every step of the supply chain worldwide,” the company said.
Vince Sorace, CEO of Kutcho Copper, said each syndicate member brought a unique perspective and knowledge to the hub that will assist in developing applications around solutions to real problems in the mining industry.
Working together, MineHub will be exposed to the vast knowledge and experience of the syndicate that will drive application development to become adopted and useable by industry as a whole,” he said.

Each member will appoint a person to a product steering committee and to MineHub’s advisory board around a multi-year commitment. Syndicate members will receive a founder’s equity position in MineHub and are entitled to pre-emptive rights to participate in equity financings.