A first live shipment with approximately 10,000 MT of copper concentrate has already been initiated on the MineHub platform and is being tracked on its way from the United States to Japan, said MineHub in a statement.
Ashley Woodhouse, director of Marketing for Capstone Copper's Global Concentrate and Metals Sales, said "We are excited to start using the MineHub platform within our operations as it provides us with a streamlined way of executing our metals marketing transactions and provides customers with up-to-date visibility on our sales and shipment process. We look forward to furthering our relationship with MineHub as they transform the performance of global supply chains."
MineHub says its platform connects the parties involved in a physical commodity transaction in a "digitally integrated workflow" that uses blockchain.
Arnoud Star Busmann, chief executive at MineHub, said: "We have been working with Capstone's team and their customers on many of the platform features, enhancing our product further and leading to next stage in our collaboration. Announcing this commercial contract and kicking off with a live shipment from Capstone is a great start to the year."