MineHub and IBM to introduce global mining and metals supply chain solution with blockchain

According to Mining News Pro - Goldcorp Inc. (TSX: G), ING Bank (NASD: ING), Kutcho Copper Corp. (TSXV: KC), Ocean Partners USA Inc. and Wheaton Precious Metals Corp. (TSX: WPM) are working with mining technology company MineHub to build the new mining supply chain solution on top of the IBM Blockchain Platform. Each of the participating companies represent key areas of the supply chain from mining, streaming, trade and finance. "Each of the participating companies represent key areas of the supply chain from mining, streaming, trade and finance."

“We are working with some of the most forward thinking and innovative companies from each area of the mining and metals industry. By digitizing the supply chain, we can increase the level of automation, reduce reliance on intermediaries and increase the speed at which goods are transferred from miners to end buyers.

This creates the opportunity for transformative efficiencies and cost reductions throughout all aspects of operations,” said Vince Sorace, founder and CEO of MineHub in a press release. “This is a significant advancement for an industry looking to integrate and use data in ways not previously possible”.

The first use case will be built on the MineHub platform and will manage concentrate from Goldcorp’s Penasquito mine in Mexico throughout its path to market.