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Ivanhoe Mines Ltd T.IVN

Alternate Symbol(s):  IVPAF

Ivanhoe Mines Ltd. is a Canada-based mining, development, and exploration company. The Company is focused on the mining, development and exploration of minerals and precious metals from its property interests located primarily in Africa. Its projects include The Kamoa-Kakula Copper Complex, The Kipushi Project, The Platreef Project., and The Western Foreland Exploration Project. The Kamoa-Kakula Copper Complex project stratiform copper deposit with adjacent prospective exploration areas within the Central African Copperbelt, approximately 25 kilometers (km) west of the town of Kolwezi and about 270 km west of the provincial capital of Lubumbashi. The Kipushi mine is adjacent to the town of Kipushi in the Democratic Republic of the Congo (DRC) approximately 30 km southwest of the provincial capital of Lubumbashi. The 21 licenses in the Western Foreland cover a combined area of 1,808 square kilometers to the north, south and west of the Kamoa-Kakula Copper Complex.


TSX:IVN - Post by User

Post by guarantor1on Dec 14, 2021 8:56am
355 Views
Post# 34228184

BHP does first Blockchain trade in Copper Concentrate

BHP does first Blockchain trade in Copper Concentrate

RF talked about this  type of thing, earlier this year - apparently very relevant re IVN going forward
LONDON (Reuters) - Miner BHP Group has completed a $30 million blockchain trade in copper concentrate with China Minmetals Corp, online platform MineHub said on Tuesday.

The pilot transaction was the first cross-border shipment for copper concentrates using blockchain, MineHub said in a statement.

"We’re planning another trial with an expanded scope in early 2022," BHP Chief Commercial Officer Vandita Pant said in an article on BHP's website.

 

Blockchain is a digital ledger that forms the backbone of many cryptocurrencies such as bitcoin.

In June 2020, BHP used MineHub for its first blockchain trade in iron ore with China Baoshan Iron & Steel Co Ltd.

Commodity groups in recent years have been seeking to save money by digitising a sector that still uses millions of paper documents, faxes and emails, but progress has been slow.

The settlement process for copper concentrates - partially processed ore - is complex, involving data moving between banks, logistics providers and government departments.

The blockchain copper transaction also included carbon emissions data and metals assay results showing the various elements of the concentrate, MineHub Chief Executive Arnoud Busmann said.

The destinations of the shipment, which was completed recently, were not disclosed, a spokesperson said.

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