Factbox: Digital metal platforms gain traction

Minehub Technologies

11/10/2021 03:00

(Repeats OCT 8 story with no change to text)
    Oct 11 (Reuters) - Online metals platforms have gained
momentum this year by targeting physical exchange of raw
materials.  urn:newsml:reuters.com:*:nL8N2R03BB
    Below are details of some of the platforms.
    
    METALS HUB https://www.metals-hub.com/
    Based in Germany, the platform focuses on physical trading
of materials used in steelmaking.
    Turnover is due to more than triple this year to about 1
billion euros after big firms stepped up usage, including miner
Anglo American  AAL.L .
        
    OPEN MINERAL https://openmineral.com/
    The platform specialises in concentrates, aiming to allow
miners and smelters to cut out middlemen.
    In September, the Swiss-based firm raised $33 million from
some new investors led by Abu Dhabi's sovereign wealth fund 
Mubadala. More than 900 metals and miners are registered on its
platform.  
    
    MINEHUB https://minehub.com/
    The company, listed  MHUB.V  in Canada in September, seeks
to use blockchain to digitise the largely paper-based
transactions that support most metals and mining deals. 
    MineHub launched in late 2020 and is planning to create a
separate entity in top metals consumer and producer China.
    It has signed up the world's biggest mining group BHP
 BHPB.L .
        
    TRADECLOUD https://tradecloud.sg/
    The Singapore-based platform bills itself as a technology
and communications venue.
    Using blockchain to link counterparts and service providers
in a secure digital environment, it has separate platforms for
metals and energy.

    METALPRODEX http://www.metalprodex.com/ 
    The German platform is a marketplace for spot trading of
primary and semi-finished metals such as aluminium, copper and
zinc, using a network of warehouses.
    
    XOM Materials https://www.xom-materials.com/europe-en
    The German company provides an online platform for trading
materials such as steel, metals, and plastics.
    The website boasts more than 70 users, including Alinox,
Weyland and Kloeckner Metals.

    WAYBRIDGE https://waybridge.com/
    The U.S. platform, which aims for a digital transformation
of the physical raw materials supply chain, said it raised $30
million in financing in May.
    It aims to connect parties for contracting, online delivery
and shipment tracking.
       

 (Reporting by Eric Onstad; editing by Pratima Desai and Louise
Heavens)
 ((eric.onstad@thomsonreuters.com; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO;
 Reuters Messaging: eric.onstad.thomsonreuters.com@reuters.net))