Kutcho, partners team up for blockchain hub

Kutcho Copper confirmed it has launched MineHub Technologies alongside a handful of industry partners with the goal of leveraging blockchain technology to develop new mining and metals applications
Kutcho, partners team up for blockchain hub Kutcho, partners team up for blockchain hub Kutcho, partners team up for blockchain hub Kutcho, partners team up for blockchain hub Kutcho, partners team up for blockchain hub

Kutcho Copper and its MineHub partners will leverage blockchain technology for real-time asset management from the mine onward

Staff Reporter

The Canadian company said it is working together with a syndicate that includes a senior mining company, one of the world's largest streaming companies, an international base and precious metals and concentrates trading company that specialiaes in providing trading and financing solutions for miners and smelters, and a global financial institution offering banking services in the metals and mining industry.

It did not disclose the partners' identities but said further information is forthcoming.

The initial MineHub application will be focusing on supply chain and asset management to give its users secure, traceable and streamlined assets tracking from the mine site onward, with the goals of significant cost reductions and creating visibility and accountability where there is currently an issue with lack of transparency. Real-time information on assets will allow a user to see every segment of the global supply chain.

Kutcho officials said MineHub will complement its own plans to advance the Kutcho copper-zinc-silver-gold project in British Columbia. It and other syndicate members will appoint representatives to a product steering committee and advisory board. Each participating company will have a founder's equity position in MineHub.

"MineHub presents a remarkable opportunity for Kutcho Copper shareholders to benefit from ownership in this groundbreaking technology, which we believe can transform the mining industry," president and CEO Vince Sorace said, adding that each member of the partnership will bring with them unique perspectives and knowledge.

"Working together, MineHub will be exposed to the vast knowledge and experience of the syndicate that will drive application development to become adopted and useable by industry as a whole."