Mineral Assay Tracking

Mineral assay data management – from collection, through to analysis, to due diligence – this critical data needs to be saved, secured and preserved

•Mineral sample assay data are the backbone of mineral exploration success and mining project efficiency and sustainability.
•This data is collected from the earliest stages of the project throughout the whole mine cycle and even after the completion of the project, as often this data is necessary for monitoring closed sites or in case of re-evaluation of data for possible restarting of the project if economic conditions become favourable.
•The data is poorly transferred and secured, limiting it’s potential

Tokenisation

From digital gold, platinum and other precious metals to digital nickel and digital steel – blockchain technology allows for secure and very flexible transactions in metal trading space, working 24/7 around the globe. Compared to traditional model tokenization brings in efficiency, security, transparency and costs savings.

Supply Chain

From mine to concentrate, through rail and sea transport, processing plant and to the final product, multiple IoT devices are now tracking movement of physical assets, including metals. Blockchain integrates seamlessly with existing data management systems and assures that data that are submitted by variety of sensors is stored securely and can not be tampered with, at the same time allowing all parties immediate access to information about cargo location and condition. Adoption of blockchain technology in supply chains has already brought about huge savings for logistics companies and big retail, Technology is ready and has been tested, it is time miners, processing plants and metal traders learn how they can benefit from application of blockchain.

Environmental, Social and Governance data tracking

Mining industry is focussing on ESG criteria more than ever before. The drivers of this focus is consumer demand and increased awareness of our impact on the communities and environment, enabled by technology to collect and analyse large datasets on air quality, safety, and community impact. ESG data is being collected by many parties – the mining company itself, the governmental overseeing agencies, local communities and NGOs. Access to and veracity of this data is often critical to the success of mining enterprise. Blockchain technology offers secure storage, reliable access and transparency to this vital information.

Smart Contracts 

Incorporating blockchain solutions into the mine-to-metal supply chain can have significant benefits for colleagues spread across the value chain. For instance:

• As the mine manager I want to know the net smelter return for the shipped concentrate as soon as I can to allow me to make changes to the mine plan as soon as possible to enable me to maximise my profits.
• As the recovery plant manager, I want to know as much information about the recovered metal as I can to allow me to optimise concentrate production to suit the smelter and reduce treatment charges.
• As the smelter I want to know variances in expected inputs to give me time to blend feed if I need to minimise costs.
• As the Finance Director of the mining company I want to know the instant that concentrate has arrived at the smelter port and the payment process is triggered.
• As the end consumer of the finished copper products I want to know that the metal has come from mines with good ESG record

Track and trace: eliminate conflict minerals, child labour and exploitation

The very first use for blockchain technology in mining came in this space – from diamonds, to cobalt, gold, tin, and now also lead, mica and many other metals and minerals blockchain technology is providing it’s unique solution for immutable recording of transactions in fungible materials. Buyers of electric vehicles and top of the line gadgets want assurance that all the metals that went in their cars were produced ethically and with the best industry practices in safety, labour laws and environmental protection. Blockchain technology makes this possible.