Shares of Minehub Technologies Inc (OTCMKTS:MHUBF) have been trading within a narrow range. The stock has lost 13% in the past month.
Trading Data
On Tuesday, MHUBF stock was up 1.50% to $0.9138 with more than 2.5k shares traded, compared to its average volume of 1.80k shares. The stock has moved within a range of $0.9138 – 0.9200 after opening trading at $0.92.
BHP and China Minmetals Complete First Cross-Border Copper Concentrate Transaction Using MineHub’s Blockchain Platform
Enterprise-grade platform for digital trade, bringing efficiency to mining and metals supply chains, Minehub Technologies Inc (OTCMKTS:MHUBF) on December 14th announced that its platform is being used by the two largest companies in the metals and mining industry, BHP and China Minmetals, in first cross-border copper concentrate trial shipment, which was processed on blockchain technology.
Arnoud Star Busmann, CEO at MineHub said that the platform has evolved much since BHP finished its first iron ore transactions last year with China Baowu. Busmann added that China Minmetals is working with BHP for using a blockchain platform for transparent and secure cross-border data sharing.
The CEO expressed excitement on finishing the pilot transaction with forward-looking partners.
Currently, the settlement process of copper concentrates is cumbersome and has high processing costs besides vulnerability to errors and fraud.
The platform gives the solution, that has been created for supporting complex cross-border commodity transactions. Integrity, Data privacy, and control are secured by enterprise blockchain technology.
The process for the shipment between Minmetals and BHP was finished on the platform. It includes the use of several innovations including Blockchain-based assay exchange, Carbon emissions data sharing, and MineHub node hosted in mainland China.
The transaction was the first of its kind for copper concentrates and this will achieve tracking and transparency of carbon emissions reduction.
