LONDON / KIGALI 30 May 2022 – Minexx has been approved by the Government of Rwanda to support artisanal miners access capital and supply global markets in a way that meets Organisation for Economic Co-operation and Development and International Conference on the Great Lakes Region responsible sourcing standards.
Minexx helps artisanal and small mines (ASMs) increase their efficiency and safety by linking them to appropriate expertise, equipment and capital. In collaboration with the Rwanda Mines, Gas and Petroleum Board (RMB), Minexx will deploy and supervise blockchain powered technology to record and track mines’ key transactions, including miners’ payments, mineral traceability, minerals taxation, export process, supply chain corrective actions and community relations.
At a local level, ASM operators will be using Minexx digital platforms and due diligence processes. This will ensure that when ASMs extract tin, tungsten, tantalum, niobium and gold, they are transported, processed, exported and traded in a conflict free and legal manner. Blockchain is immutable and so brings traceability, transparency and trust.
It will also ensure ASMs meet the expectations of their downstream customers namely smelters, metal refiners and tech companies that use these vital minerals to manufacture products such as computers and smart phones.
Minexx CEO, Marcus Scaramanga says: ‘’Minexx is looking forward to working with the Rwandan Government and other stakeholders to bring traceability, transparency and trust to the minerals sector through our blockchain technology. This will lead to benefits to the miners themselves through access to capital, but also to the Rwandan Government through taxation.
Minexx hopes to lead the way of satisfying the world’s appetite for technology in a fair way for people and planet.
We hope to help more artisanal mining sites and rollout our in-demand services to other minerals producing countries on the African continent.”
Minexx’s services will bring more transparency and trust to the mining sector, while directly addressing 10 of the 17 UN Sustainable Development Goals.
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Notes to Editors:
Minexx is securing the mineral supply chain from earth to tech – with traceability, transparency and trust. Its blockchain platform – with its global application – transforms and re-designs the value chain bringing benefits to miners, smelters, traders, tech companies and governments while directly impacting 10 of the 17 Sustainable Development Goals. It is headquartered in London, UK, with operations in Burkina Faso, Rwanda and DRC.