Global testing and inspection services company ALS has a blockchain-based channel to deliver laboratory assays results under its new collaboration agreement with Canada’s MineHub.
The two companies said in a statement they had started a “global collaboration in digitalising mining and metals supply chains, with a particular focus on streamlining the customer experience in the post-trade workflow in base metal concentrates transactions on the MineHub platform”.
Toronto-listed MineHub said it would be able to improve its digital platform and in particular its Assay Exchange application with a “material” service.
“This collaboration directly contributes to the MineHub value proposition, which includes removing the enormous friction that companies in supply chains encounter in collecting, verifying and tracking information that is produced by their counterparties and service providers,” the company said.
“By digitally integrating ALS’ laboratory services, MineHub and ALS will be able to remove part of that friction, which is part of every base metal concentrate transaction.”