Large tin producer Minsur, and blockchain software developer Minespider, have extended a previous collaboration that will integrate blockchain traceability into all of the former’s tin operations, making it one of the largest full-scale traceability projects in the world.
Minsur supplies more than 50 companies in different industries and geographies. The company owns the San Rafael mine in Peru, which is the world’s largest underground mine and the richest in ore-grade tin. The mine produces approximately 6% of the world’s tin supply.
In 2018, Minsur and Minespider were part of a consortium that ran a pilot project at the mine site with partners including Google, Cisco, SGS, and Volkswagen. In 2023, Minespider and Minsur are expanding collaboration and implementing traceability for all tin operations.
The company will track more than 29,000 TM of tin per year with Minespider blockchain traceability software, which includes production from Brazil.
“We developed sustainability principles for all of our operations based on our corporate purpose and values, strengthening our commitment to social and environmental responsibility,” said Minsur director of corporate affairs and sustainability Gonzalo Quijandria.
Added Minespider founder and CEO Nathan Williams: “Though countless companies talk about sustainability, only a few mineral firms truly embrace traceability in their operations and surpass the demands of regulations like the Conflict Minerals regulation. Among the major tin producers, Minsur stands out for its commitment to extensive sustainability projects and the integration of blockchain traceability across all aspects of its operations. This example will be followed by other industry players to take tangible strides towards sustainability.”