Blockchain technologies will be used to control mining

The Rwandan government has approved the participation of blockchain company Minexx as a partner in the control and management of mineral supplies. According to Mining Magazine, Minexx plans to use blockchain technology to control key processes of minerals (tin, tungsten, tantalum, niobium, and gold) mines. This includes paying miners, tracking the supply chain, taxation, and export processes.

The use of Minexx’s digital platforms and due diligence procedures will allow the Rwanda Board of Industry to receive truthful information. The blockchain will provide legal proof of origin for minerals, hassle-free transportation, export and trade," said Minexx CEO Marcus Scaramanga.

«Minexx hopes to use the proposed blockchain technology in collaboration with the Rwandan government to ensure traceability, transparency and trust in the country’s mining sector. This will benefit both the miners themselves and the Rwandan government,» added Mr. Scaramanga.

It is worth noting that controlling the origin of minerals using blockchain and web3 technologies is a dynamically growing trend, especially in Africa. In early June, the Central African Republic announced that it plans to tokenize access to its natural resources and offer it to everyone. According to the president of the republic, the tokenization of «geological treasures» will help create new investment opportunities in the country.