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Meet evolving ESG standards
The mining and metals industry can be a vital cog for a thriving economy. In the US alone, the metals and mining sector was responsible for 1 million jobs and minerals worth $82.3 billion However, legacy operational practices in the mining sector have led to data losses, security breaches, and financial losses. There is a dearth of visibility into the supply chain and a lack of verifiable information about mining practices and performance standards.
From recording sourcing information to tracking the minerals across the value chain to market, present methods of data management have been woefully inadequate.
There is an inherent need to have a platform that can act as a single network between suppliers, freight companies, customers, and mining companies and would securely record all information from mine to market.
Blockchain-based platforms can bridge this gap in the mining industry by providing transparency, immutability, and high data security.
An enterprise-grade comprehensive blockchain-based platform that provides end-to-end visibility across the entire supply chain. It leverages distributed ledger technology to obtain digital maturity by recording all transactions from the source of the metal to its journey across the value chain in real-time. It would also provide traceability to help mining companies adhere to compliance standards and certification of sustainable metals that would help increase its value in the supply chain.
MineTrace helps in capturing essential particulars like provenance data, specifics about compliance and sustainability standards, and supplier information. This allows mining companies to adhere to ESG norms, present the right data to their environmentally-conscious consumers, better manage their supply chain, and improve trust between all players.
Features & Capabilities
Smart contracts and business process automation allow streamlining of time-consuming workflows.
Mining Supply Chain Visibility
Real-time activity log updates allow all relevant stakeholders access to specific data like provenance information and compliance parameters.
Identify, create and merge and manage assets across the mining supply chain with great flexibility.
ESG Compliance Tracking
Provides accurate sustainability data like mine of origin, provenance and single source of truth that helps mining companies stay compliant with ESG.
Mass Balancing Data Reports
Can accurately calculate and report the mass balancing data to estimate the source of feed consumed during the production.
Obtain verifiable data regarding the origin or mine of origin for minerals can help customers and other stakeholders trace it accurately back to the source(s).
Can be seamlessly integrated with any third-party enterprise software solutions like SAP and mining asset management systems.
User-based permission and access control mechanism ensures that data is accessed only by permitted users.
Receive early alerts on data duplication, missing information and potential disruptions for proactive, corrective action leading to greater automation, improved planning, and faster decision-making for improved efficiency and lower costs.
Real-time Reporting & Analytics
Decentralized, distributed ledgers provide a single point for document management, real-time reporting and data-driven insights, providing visibility for upstream and downstream players in the value chain.
MineTrace™ is being adopted by Teck in setting the standard for an innovative product passport. This product passport collects, stores, and provides reliable, tamper-proof, and real-time data at every stage in the resource supply chain from end-to-end, including comprehensive information about the provenance of the resources.
Hear from our Clients