International news within the industry of mining and metal, Apr, 24 2019
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IBM want to use Blockchain platform in the mining industry

The first blockchain application is to be implemented on the MineHub platform, which manages the Goldcorp Penasquito Mine concentrate in Mexico on its way through the market. A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data. Photo: Creative Commons, credit: Xrech
The first blockchain application is to be implemented on the MineHub platform, which manages the Goldcorp Penasquito Mine concentrate in Mexico on its way through the market. A blockchain is a growing list of records, called blocks, which are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data. Photo: Creative Commons, credit: Xrech
Published by
Markku Björkman - 22 Jan 2019

IBM, a major technology company, has partnered with MineHub Technologies to develop a blockchain solution to improve supply chain management in the mining and metals industries. IBM announced the initiative in a press release on January 16.

MineHub is a company that uses technologies such as blockchain to develop cost-saving applications for the metals and mining industry. The newly announced mining supply chain platform is being developed on the cloud-based IBM Blockchain platform based on the Linux Foundation's Hyperledger Fabric.

The solution targets the inefficiencies of the global mining and metals market, which is estimated at $ 1.8 trillion. These include excessive correspondence, manual data processing and lack of transparency between those involved in the supply chain. It should also serve to improve logistics and financing and reduce costs.

The companies intend to digitize the supply chain by creating a shared between the parties ledger, which provides an aggregated real-time view of the transactions and data along the supply chain and is only accessible to authorized participants.

According to the press release, this will increase the level of automation, reduce reliance on intermediaries and increase the speed of transfer of goods from miners to end-users.

The platform is also being developed by companies such as gold producer Goldcorp Inc., ING Bank, mineral exploration company Kutcho Copper Corp., trading company Ocean Partners USA Inc. and precious metal streaming company Wheaton Precious Metals Corp. supported by a consortium founded by MineHub.

The first application is to be implemented on the MineHub platform, which manages the Goldcorp Penasquito Mine concentrate in Mexico on its way through the market. When ore is mined, the mining company uploads relevant data, including sustainability and ethical practices.

Cointelegraph today announced that IBM will use its Blockchain platform to oversee Cobalt shipments from the Democratic Republic of the Congo in collaboration with automotive manufacturer Ford, South Korean cathode manufacturer LG Chem and Chinese company Huayou Cobalt.

In September, Hong Kong-based jewellery retailer Chow Tai Fook reportedly registered some of its diamonds on a distributed leger developed by blockchain start-up Everledger and backed by the IBM Blockchain platform. This will reportedly allow the retailer's customers to identify the source and authenticity of the gems sold in its T-mark branded stores.

The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199
The property lies in the famous Cobalt province and is approximately 47 km south of the town of Cobalt. The picture shows an old mine in the town of Cobalt. In the early 1900s, the area was heavily mined for silver; the silver ore also contained cobalt. By 1910, the community was the fourth highest producer of silver in the world. Mining declined significantly by the 1930s, together with the local population. In late 2017 one publication referred to Cobalt as a ghost town, but the high demand for cobalt, used in making batteries for mobile devices and electric vehicles, is leading to great interest in the area among mining companies. Photo: Wikipedia, credit: P199

Quantum Cobalt Completes First Pass Exploration Near Temagami, Ontario

Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver
Sotkamo Silver consists of the parent company, Sotkamo Silver AB, with one wholly-owned subsidiary in Finland: Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region. The Company has completed the Definitive Feasibility Study for the Silver Mine project and is working on project financing issues. Photo: Sotkamo Silver

New silver mine opened in Finland

"150 trucks pro year"

The production of the first silver mine in Finland has started in Sotkamo. the mine of the Sotkamo...

The joint initiative called HYBRIT of SSAB, LKAB and Vattenfall – here with their three representatives at the fair, from right, Martin Pei technology manager at SSAB, Jan Moström CEO of LKAB and Martin Lindqvist, CEO of SSAB. HYBRIT is now on exhibit as an exciting sustainability collaboration at one of the worlds largest industrial trade fairs in Hanover. The CEOs of the three companies are in Germany to show the rest of Europe that it is possible to produce fossil free steel. Photo: SSAB
The joint initiative called HYBRIT of SSAB, LKAB and Vattenfall – here with their three representatives at the fair, from right, Martin Pei technology manager at SSAB, Jan Moström CEO of LKAB and Martin Lindqvist, CEO of SSAB. HYBRIT is now on exhibit as an exciting sustainability collaboration at one of the worlds largest industrial trade fairs in Hanover. The CEOs of the three companies are in Germany to show the rest of Europe that it is possible to produce fossil free steel. Photo: SSAB

The Swedish steel industry exposes at the Hanover Fair

"revolutionary steel industry changeover"

- The Swedish initiative for fossil-free steel production, HYBRIT, participates this week at the...