MineHub Technologies (TSXV: MHUB; OTC: MHUBF) has entered into a commercial agreement with Sumitomo, one of Japan's largest corporations. Under the agreement, Sumitomo will subscribe to the MineHub platform and enterprise applications as a paying customer.
The implementation of the MineHub platform in Sumitomo's global operations underlines the mutual commitment to a long term relationship, and the MineHub global team will work closely with the Sumitomo 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, said, "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 digitalization of our industry."
This commercial agreement is another step in operationalizing the partnership that was announced in February this year, in which the companies communicated their strategic collaboration to expand the MineHub platform with innovative solutions and value propositions, and to enable Sumitomo and its suppliers and customers to unlock the benefits of digital trade through the MineHub platform, which include for instance operational cost savings, emissions reduction, supply chain resilience and working capital optimization.
To learn more about the MineHub platform, visit www.MineHub.com.