MineHub delivered strong execution in 2024 by expanding its global presence through key initiatives, including onboarding Codelco's ecosystem partners, broadening its agreement with Sumitomo Corporation, and securing its first Chinese smelting company.
The Company completed a strategic partnership with Abaxx Technologies Inc.("Abaxx"), which holds a 19.87% ownership stake in MineHub.
Transitioned its pilot program with Southwire and the Panama City Port Authority to full commercial use.
Vancouver, British Columbia--(Newsfile Corp. - January 15, 2025) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company"), a leading provider of digital supply chain solutions for the commodity markets, is pleased to provide its annual corporate update to shareholders.
Andrea Aranguren, President and CEO of MineHub, commented, "2024 has been another pivotal year for MineHub as we strengthened our digital supply chain platform and deepened partnerships with some of the biggest players in the commodity markets. The momentum we've gained this year—through customer growth, strategic alliances, and geographic expansion—positions MineHub for significant growth as we head into 2025 and beyond. As industries across the globe continue adopting digitized solutions to meet operational and regulatory demands, MineHub is well-positioned to become an indispensable partner for sustainable and efficient supply chains."
Strategic Partnerships and Global Expansion
MineHub achieved significant milestones in 2024 across commercial partnerships, customer onboarding, and platform enhancements, further cementing its leadership in digitizing global commodity supply chains.
Key highlights include:
MineHub continued to onboard Codelco's ecosystem partners and has now onboarded the vast majority of Codelco's global copper cathode contracts into the platform. MineHub's contract with Codelco is aimed at digitizing its global refined copper business, representing a significant validation of MineHub's technology platform. Through MineHub's advanced technology, Codelco is able to offer its customers heightened visibility, traceability, and operational efficiencies, elevating the overall customer experience.
The Company signed a services agreement with a large Canadian bank (the "Bank") to deploy MineHub's Consignment Module to manage non-ferrous metals transactions for the Bank. The Consignment Module provides an accurate, real-time view of consignment stocks, allowing both manufacturers and suppliers to improve inventory management.
MineHub solidified a partnership with Surecomp, a global leader in trade and supply chain finance solutions. This partnership integrates MineHub's platform into Surecomp's offerings, amplifying its role in trade finance solutions for physical commodities.
MineHub completed a pilot program with Southwire Company LLC and the Panama City Port Authority in Florida, incorporating digital truck bills of lading to modernize copper cathode shipments. The program achieved 100% truck tracking coverage and an 8% reduction in plant receiving times, enhancing visibility, security, and efficiency. Following its success, the solution transitioned to full commercial use, demonstrating MineHub's impact on supply chain logistics.
MineHub completed a strategic partnership with Abaxx which resulted in Abaxx taking a 19.87% ownership stake in the Company. This collaboration is enabling deeper data integration and innovations to enhance pre-trade and post-trade workflows for users.
MineHub's footprint in Asia grew significantly in 2024 with key milestones:
MineHub entered the Chinese copper market by signing an agreement with its first Chinese smelting company, cementing the Company's presence in the region with the world's largest copper refining capacity.
The Company expanded its commercial agreement with Sumitomo Corporation to include all non-ferrous metals. This collaboration unlocks new revenue opportunities and positions MineHub to grow beyond copper markets.
MineHub partnered with Beijing-based logistics provider Elane Technology Co. Limited ("Elane"), owner of CargoGo—a major supply chain visibility platform serving 57 China-based Fortune Global 500 companies. This partnership enhances MineHub's shipment capabilities and positions the Company as a key player in Asian commodity markets.
These achievements were further bolstered by platform enhancements, including the launch of the Consignment Module, which delivers real-time inventory visibility, along with expanded tools for digital workflows and analytics. This progress achieved in 2024 lays a strong foundation for continued momentum and impact in 2025.
Leadership and Governance Updates
In 2024, MineHub strengthened its leadership team and governance with key appointments aimed at driving the Company's strategic priorities:
The Company appointed Troy Bullock to the Board of Directors. Mr. Bullock is a recognized leader in the Canadian technology space with over 25 years of international finance leadership experience having previously served as the President and CEO of Nanotech Security Corp, a publicly listed company acquired in 2021.
Monika Russell was appointed as Chief Financial Officer (CFO), bringing over 20 years of experience in finance across e-commerce, technology, manufacturing, and forestry. Her expertise will support MineHub's focus on financial discipline and long-term profitability.
Esther Babb was appointed Chief Operating Officer (COO). With over 20 years of operational experience in scaling startups and driving commercialization efforts, Esther will lead MineHub's execution of strategic and operational activities.
These leadership updates align with MineHub's commitment to strong governance, operational excellence, and delivering long-term value to its stakeholders.
Looking Ahead to 2025
Building on the successes of 2024, MineHub is positioned to accelerate growth by expanding its market reach, driving innovation, and enhancing customer value. With strong global momentum and a robust pipeline, the Company remains focused on delivering transformative improvements to commodity supply chains while advancing toward long-term profitability.
Key initiatives for 2025 include:
Expanding its global footprint by strengthening its presence in Asia and Europe, leveraging partnerships with Sumitomo Corporation and Elane, and addressing regulatory demand for supply chain transparency.
Growing Annual Recurring Revenue ("ARR")(1) by onboarding new customers, increasing transaction volumes, and converting pipeline opportunities, supported by enhanced platform tools like Consignment Module and Financial Document Modules.
Exploring opportunities in adjacent markets, including steel, scrap metals, and chemicals, as part of efforts to broaden the platform's applications, leveraging proven expertise in digital supply chain solutions.
Strengthening profitability through cost optimization, ensuring efficient scaling of operations while balancing investments in personnel and product development.
Advancing digitization through the strategic partnership with Abaxx, focusing on initiatives like secure chat integration and expanded analytics to improve workflows and decision-making.
MineHub thanks its shareholders, customers, partners, and team for their support during this transformative year. The Company looks forward to building on this strong foundation in 2025.
About MineHub
MineHub is the digital supply chain platform for the commodity markets, making raw material supply chains more efficient, resilient and sustainable. MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.
Andrea Aranguren CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@minehub.com or visit our website at www.minehub.com. Tel: (778) 373-3747
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that are considered "forward-looking information" within the meaning of applicable Canadian securities legislation ("forward-looking statements") with respect to MineHub including, but not limited to, statements with respect to MineHub's future operational plans, the timing of such plans and anticipated customers. Forward-looking statements are statements that are not historical facts are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although MineHub believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company's ability to raise sufficient capital to fund its operations, applications and for general working capital purposes, changes in economic conditions or financial markets, changes in laws or regulations that could have an impact on the Company's operations, dependence on its key management personnel and market competition. Other risk factors are identified in the Company's management discussion and analysis, available on the Company's SEDAR+ profile at www.sedarplus.ca. There may be other risk factors not presently known that management believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. Although the Company has attempted to identify risk factors that could cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. The forward-looking information is made as of the date included herein, and the Company assumes no obligation to publicly update or revise such forward-looking information. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of MineHub's management on the date the statements are made. However, except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change.[1]
Footnotes: (1) ARR is a key performance indicator of future recurring revenues and the trajectory of the business. ARR includes annualized revenue of all active SaaS platform revenue as of a specified point in time and assumes all active contracts are renewed on existing terms. ARR is subject to change through acquisition of new customers, and expansion or attrition of existing customers. ARR is not a standardized measure and may not be comparable to ARR disclosed by other issuers.
