Blockchain mineral traceability firm Minexx is set to support artisanal miners in Rwanda. The government approved the move to support artisanal miners in accessing capital and supplying global markets in a way that meets Organisation for Economic Cooperation and Development and International Conference on the Great Lakes Region responsible sourcing standards.
Minexx will collaborate with the Rwanda Mines, Gas and Petroleum Board (RMB), to 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.
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 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. We hope to lead the way of satisfying the world’s appetite for technology in a fair way for people and planet. We also hope to help more artisanal mining sites and roll out our in-demand services to other minerals-producing countries on the African continent,” said Minexx CEO, Marcus Scaramanga.