Published: March 19, 2024 |

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MineHub Technologies has expanded its partnership with Sumitomo Corporation further solidifying the collaboration to drive commercial traction and integrate its refined copper business onto the MineHub platform.

As part of the extended partnership, Sumitomo will also play a pivotal role in supporting sales efforts and driving commercial traction for the refined platform, in addition to the existing concentrates business. This expanded scope reflects the confidence and validation Sumitomo has in the capabilities and potential of the MineHub platform to deliver value across multiple segments of the metals market.

“We are thrilled to deepen our partnership with Sumitomo and expand the scope of our collaboration. By joining forces to drive commercial traction and integrating Sumitomo’s refined copper business onto our platform, we are poised to unlock new opportunities for growth and innovation in the metals industry,” said Andrea Aranguren, president and CEO of MineHub.

“We are excited about the prospects of this expanded collaboration and look forward to realizing the benefits it will bring to the market,” added Aranguren.

“The extension of our partnership with MineHub marks a significant milestone in the ongoing collaboration between the two companies. We believe that integrating our refined copper business onto the MineHub platform will not only streamline our operations but also enhance our ability to serve our customers effectively,” said Takeshi Ishimaru, general manager of Non-Ferrous Metals and Raw Material at Sumitomo.

“We are very excited about the possibilities this partnership presents and look forward to the continued success of our joint endeavors,” added Ishimaru.

Sumitomo expects to integrate its refined copper business onto the MineHub platform starting with key customers in the Asian market. This strategic move underscores the commitment of both companies to leverage digital solutions for optimizing operations, enhancing efficiency, and delivering superior customer experiences. The extension of the partnership between MineHub and Sumitomo reflects a shared commitment to harnessing technology and innovation to drive value for customers and stakeholders.

MineHub and Sumitomo have been working together since February 2022 when the company entered into a partnership with the shared goal of bringing efficiency, transparency, and responsibility to industrial supply chains. In August 2022, MineHub and Sumitomo entered into a commercial agreement with Sumitomo subscribing as a paying customer to MineHub’s platform and enterprise applications. This was followed by a $1 million capital contribution by Sumitomo in June 2023, which provided MineHub with the funding required to accelerate their joint goal of digitization of the metal concentrates market by promoting the adoption of the MineHub platform and its concentrates application as the emerging industry standard for the settlement of concentrated transaction.

MineHub Technologies is the digital supply chain platform for the commodity markets, making raw material supply chains more efficient, resilient, and sustainable. MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories, and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable, and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.

Sumitomo Corporation engages in general trading business worldwide. The company provides steel sheets and tubular products; and manufactures, leases, sells, services, and finances ships, aircrafts, motor vehicles, construction equipment, and components and parts. It is involved in the development of renewable energy projects comprising power generation and power plant engineering, procurement, and construction activities; electricity retail; industrial facilities and equipment, water, transportation systems and infrastructure, environmental solutions, and storage battery businesses. Further, it develops and trades in coal, iron ore, manganese, uranium, non-ferrous and precious metals, petroleum, natural gas and liquefied natural gas, and commodity derivative transactions; trades in non-ferrous metal products, liquefied petroleum gas, storage batteries, carbon products, organic and inorganic chemicals, agricultural chemicals, fertilizers.

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