Britannia Mining (OTC: BMIN), a natural resources development company focused on consolidating and trading a wide range of mineral commodities, this morning announced its partnership with Everledger Ltd. The alliance is of significance to Britannia’s vision for 2016, enabling the company to execute its growth strategy, address industry challenges by reducing risks, and add greater transparency in diamond procurement.
UK-based Everledger provides an immutable ledger for diamond certification and transaction verification in order to efficiently track the origin of diamonds. The company stores its ledger on the Blockchain, which was identified at the recent World Economic Forum in Davos as one of the fundamental elements of the Fourth Industrial Revolution.
For Britannia, this proprietary technology has the potential to incorporate tracking rough diamonds and possibly other high value minerals and metals from mine pit/shaft through to end-buyer.
“Our goal is to position the company to leverage the best practices for our downstream sales business. This year we plan to incorporate innovative and proven technologies to address some of the obstacles we have seen impede mineral commodity trading, such as slow inefficient paper based systems, risk, theft and fraud. We believe that this collaboration with Everledger presents the best opportunity for us to embrace state-of-the art digital solutions to reduce risk and improve the execution of trading deals,” Britannia CEO Kenneth Roberts stated in the news release.
Roberts provided more explanation of Britannia’s outlook for the upcoming year, indicating Everledger’s role in this plan.
“At the dawn of the Fourth Industrial Revolution, our vision is global and it is focused on addressing trading bottlenecks that are systemic. We anticipate announcing new major initiatives supporting this vision as this year progresses,” he said. “Managing risk lies at the heart of trading high value precious gems and metals. Digitization at source could go a long way to add value to due diligence, fraud detection, custody settlement and title transfer mechanisms. Last year we demonstrated that we can source quality products. This year, our focus is on adding an additional layer of transaction security to augment our offering and potentially speed up deal closing procedures.”
Roberts further outlines the company’s vision in an interview with Europe and Middle East Outlook Magazine (www.emeoutlookmag.com) scheduled for release January 29, 2016.
For more information, visit www.britanniamining.com
