MineHub co-founder on IPO: ‘industry is ripe for technological advancements’
- MineHub Technologies Inc will debut on Canada’s TSX Venture Exchange on Tuesday.
- It launched a commercial version of its non-crypto, blockchain based platform earlier this year.
- MineHub aims at improving efficiency, cost, and security of the mining & metals supply chains.
MineHub Technologies Inc is set to debut on Canada’s TSX Venture Exchange on Tuesday under the ticker “MHUB”, the company announced in its press release this morning.
“We are pleased to have completed our over-subscribed $10 million financing and listing on the TSX-V, especially at a time when industries are starting to understand the transformational power of shared digital infrastructure and transparency in high-value supply chains. Transparent governance is a fundamental requirement for the adoption of decentralised platforms like MineHub,” said CEO Arnoud Star.
Why does MineHub digitalise the physical commodity transactions
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MineHub is a non-crypto, blockchain based platform that uses a digitally integrated workflow to connect participants of physical commodity transactions. Digitalising the process helps improve efficiency, security, transparency and cost of the supply chain for the mining and metals industry, all the while ensuring compliance with the current and incoming regulations.
The paper-based and manual processes currently in practice result in a more than $150 billion loss to this industry every year. With MineHub’s digital transformation, the metals and mining sector will realise over $320 billion in value.
MineHub will be the first publicly-traded company in its niche
The Vancouver-based company worked with notable names like Wheaton Precious Metals, Kimura Capital, BHP, China Baowu, ING Bank, Vale, and IBM to launch a commercial version of its platform earlier this year.
MineHub already has a footprint in key markets like China, Japan, and Singapore, and will crown itself today as the first publicly traded end-to-end digital supply chain solution for the mining and metals industry.
“Our TSX-V listing represents an important milestone for MineHub. With a strong balance sheet, industry experts, and ample growth opportunities, we have a solid foundation to execute our strategy to further build and grow MineHub into the preeminent enterprise platform for commodity supply chains. This industry is ripe for technological advancements, and we have proven change is possible with a powerful suite of tools to aid in this digital transformation, from real-time data to trade finance and ESG attributes such as carbon emissions tracking,” added Vince Sorace, Co-Founder and Chairman at MineHub.