MineHub expands partnership with Sumitomo by adding refined copper trading

MineHub Technologies (TSXV: MHUB) is expanding its partnership with Sumitomo Corporation by integrating the Japanese firm’s refined copper business into the MineHub metals trading platform.

The existing partnership was established in August 2022, when Sumitomo adopted the MineHub’s blockchain-based platform for its copper concentrates business. Before that, the companies have been working together to bringing efficiency, transparency and responsibility to industrial supply chains.

This expanded scope of their partnership, according to MineHub, reflects the confidence and validation Sumitomo has in the capabilities and potential of its platform to deliver value across multiple segments of the metals market.

“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,” Andrea Aranguren, CEO of MineHub, stated in a news release.

Takeshi Ishimaru, general manager of Sumitomo’s non-ferrous metals and raw material unit, added: “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.”

The Japanese trading house expects to integrate its refined copper business onto the MineHub platform starting with key customers in the Asian market.