Toronto-listed MineHub Technologies says Dubai-based metals trader Al Qaryan International has activated its MineHub Jules digital platform.
Al Qaryan International, part of the Middle East materials recycling Al Qaryan Group, aims to streamline its bulk shipping, containerised trade and road delivery operations with the help of the commodity and trade risk management (CTRM) platform, which MineHub bought last year.
It cited entry into “growing US$1 trillion” recycled materials and scrap metals market via the Jules AI acquisition.
The Al Qaryan International deployment also covered “sophisticated hedging workflows, with London Metals Exchange position management and pricing exposure tracking integrated into the trade lifecycle”, MineHub said.
The Al Qaryan Group has at least 15 recycling and production facilities in the Middle East with a reported annual recycling capacity of more than 1.5 million tonnes of material.
“We are pleased to welcome Al Qaryan International to the Jules platform,” MineHub CEO Andrea Aranguren said.
“This deployment is particularly significant on three fronts.
“First, it validates Jules across the full spectrum of physical trade logistics, from bulk to containers to inland road operations. Second, it marks a meaningful step in our commercial penetration of the Gulf market. And third, it demonstrates the platform’s ability to support sophisticated hedging workflows alongside physical trade execution.
“Al Qaryan International is led by a highly innovative leadership team, and we look forward to partnering on new features and services such as AI automation deployments.”
Aranguren said Gulf-based traders had a growing role in the global recycled non-ferrous metals market. Saudi Arabia and the wider Gulf Cooperation Council had emerged as an increasingly important origination hub for scrap flows moving toward Asian smelters and refiners, driven by strong regional collection volumes and proximity to the shipping routes that feed manufacturing demand across the Indian subcontinent, Southeast Asia and China.
At the same time the sustained volatility of copper, aluminium and other base metals on the LME had made disciplined hedging and real-time exposure management a competitive necessity rather than a back-office concern.
“Traders operating at this intersection of physical execution and active price-risk management need integrated digital infrastructure that can handle both,” MineHub said.
