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MineHub and Sumitomo Corporation Enter into Commercial Agreement for Use of the MineHub Platform
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2022) - MineHub Technologies Inc. (...
About this update from Minehub Technologies, Inc.
[{"type":"text","content":"MineHub and Sumitomo Corporation Enter into Commercial Agreement for Use of the MineHub PlatformVancouver, British Columbia--(Newsfile Corp. - August 16, 2022) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) (\"MineHub\" or the \"Company\") is pleased to announce that it has entered into a commercial agreement with Sumitomo Corporation (\"SC\" or \"Sumitomo\"), one of Japan's largest corporations. Under the agreement, SC will subscribe to the MineHub platform and enterprise applications as a paying customer. The implementation of the MineHub platform in SC's global operations underlines the mutual commitment to a long term relationship, and the MineHub global team will work closely with the SC team to support the adoption of the MineHub platform by its worldwide network of mining companies, smelters and service providers. Arnoud Star Busmann, CEO at MineHub, said: \"Sumitomo Corporation is a formidable force in global industry, and its group companies are involved at key points in the supply chains for many of the products we use in daily life, from the point of extraction of key raw materials and moving vertically into markets like construction, automotive, batteries, finance, energy, chemicals and electronics. As metals form the foundation of most of these supply chains, we are very excited to start the commercial use of our platform in Sumitomo's Non-Ferrous Metals and Raw Materials Department, which has a leading role in global copper supply chains. Reaching this commercial milestone is testament to the close collaboration and trust we have developed together, both in Japan and globally. We are very excited about the value we will be able to unlock together for Sumitomo, its suppliers and customers, the global copper ecosystem and ultimately the MineHub shareholders.\"Takeshi Ishimaru, General Manager of Non-Ferrous Metals and Raw Materials Department at Sumitomo Corporation, said: \"MineHub is the most mature blockchain-based post-trade platform in metals & mining, with an excellent team and already working with key companies in our industry. We are committed to the adoption of the MineHub platform, starting with our copper concentrate supply chains. This is the first part of what we see as a growing and mutual opportunity for both Sumitomo Corporation and MineHub in the coming years as we progress through the d...