BHP, China Minmetals use MineHub’s blockchain platform for copper focus transaction

At current, the settlement means of copper concentrates is prolonged and complicated, suffers from excessive processing prices, complicated pricing mechanisms and vulnerability to errors and fraud. As traded volumes of copper focus have doubled in recent times within the largest market (China), market contributors urgently want a secure, secure, environment friendly, and real-time knowledge sharing system platform.

The top-to-end post-trade course of for this cargo between BHP and Minmetals was accomplished on the blockchain platform and included using a number of MineHub improvements: blockchain-based assay change, together with closing assay willpower; carbon emissions knowledge sharing (Scope 1, 2 and three); and utilizing MineHub node hosted in mainland China to make sure native knowledge residence.

MineHub permits operations groups to collaborate with one another in addition to their banks, service and logistics suppliers on the premise of shared, real-time knowledge. Information privateness, integrity and management are secured by enterprise blockchain know-how.

(This text first appeared within the Canadian Mining Journal)


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