MineHub converts BHP to paying user

Share price up on commercial deal

The CEO of Canada’s MineHub Technologies, Arnoud Star Busmann, says a commercial deal with BHP “demonstrates the viability” of a digital trading platform for mining and metals companies, and signals MineHub’s “transition to a revenue generating company”. Its share price was up 40% on the news.

MineHub said under its new commercial agreement with BHP the resources major would subscribe to its platform and enterprise applications as a paying customer.

“The MineHub global team will work closely with BHP to support the adoption of the MineHub platform by BHP operations and its business network,” the supplier said in a statement.

Star Busmann said: “Our relationship with BHP has matured further with this step, reflecting the progress from pioneering and co-creating to a commercial service that has the potential to digitally support the sales operations of BHP and its customers.”

MineHub claims its platform enables companies to improve visibility into their supply chains to pro-actively mitigate against disruptions and move from physically delivered documents to digital transactions to protect cashflows.

It also enabled users to “verify compliance with ESG policies, including trade regulations to avoid costly fines and protect their brand”.

MineHub’s share price (TSXV: MHUB) is still well down on its 12-month high of C$1.90 at current levels (around 34c), which capitalise the company at about C$22 million.

 

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