MineHub Technologies says its digital Assay Exchange has been successfully deployed in a “live transaction” involving a circa-10,000-tonne Capstone Copper copper concentrate shipment from the USA to Japan.
“The assay exchange was part of a fully digitally managed transaction on the MineHub platform,” the company said.
“Digitising the concentrate assay exchange can bring significant benefits to the market, including improved efficiency, transparency, and security.”
MineHub said global testing and analytical services leader ALS acted as a third-party “umpire laboratory” on the platform.
“The copper industry is digitising quickly and we are pleased to be able to support our customers by working with MineHub and contribute to the adoption of digital solutions like the Assay Exchange application,” ALS commodity inspection general manager, Grace Coiley, said.
MineHub CEO Arnoud Star Busmann said the concentrate assay exchange was a critical process in the global metals concentrate market, providing a means for buyers and sellers to exchange assay data and finalise transactions.
Standard processes were typically paper-based, time-consuming, and prone to errors, leading to inefficiencies and delays.
“This shipment is another step in MineHub’s journey in the digitalisation of industrial supply chains, and the copper ecosystem specifically,” the company said.
Capstone owns and operates the Pinto Valley copper mine in Arizona, USA, and has copper and precious metals assets in Mexico and South America.