Minexx uses blockchain to trace DRC minerals

Rwanda-based mining technology company Minexx has used blockchain for the first time to process a minerals sale originating in the Democratic Republic of Congo.
Minexx uses blockchain to trace DRC minerals Minexx uses blockchain to trace DRC minerals Minexx uses blockchain to trace DRC minerals Minexx uses blockchain to trace DRC minerals Minexx uses blockchain to trace DRC minerals

The Minexx project is being trialled at mines in the DRC

Minexx said its digital platform will trace minerals in the US$250,000 transaction from their origin at DRC mine sites to their final destination.

The Minexx project is being trialled at mines in South Kivu, DRC, a region known for its artisanal gold mines.

Miners at the site can confirm the exchange of ore for income via mobile payments, which are also tracked through the company's blockchain-enabled platform.

"This is good for the miners at one end of the supply chain and consumers at the other. In between, tech companies, along with smelters and refiners, can operate with more certainty about the integrity of their supply chains," said Marcus Scaramanga, chief executive and co-founder of Minexx.

Minexx has partnered with the UK's Foreign, Commonwealth and Development Office (FCDO) and its Frontier Technologies Livestreaming Programme on the project.

"[Blockchain] can bring the [artisanal] supply chain fully into the financial system, while delivering operational efficiencies to reduce the cost to market," noted the company.

The company said that from 1 January this year, the EU brought in new regulations to ensure companies importing tin, tungsten, tantalum and gold meet international responsible sourcing standards set by the OECD.