Minespider - Experts in Traceability

In the year ahead, I see a rationalisation of traceability solutions, with consolidation driven by both the commercial, social and environmental value that each provider can deliver as well as the degree of interoperability that is achievable. I also see a lot of efforts to standardise data governance to facilitate data sharing across jurisdictional and corporate boundaries, in the interest of the common good.

While companies and governments are increasingly addressing traceability and responsible sourcing aspects of their vital supply chains, there remain significant challenges. A toolbox of metrics, standards, certifications, and regulations, backed by cutting-edge technologies like blockchain and IoT, is deployed to tackle these hurdles. Streamlining these measures is in progress to facilitate their implementation and boost their impact.

Naturally, the increase in reliance on new technologies will bring a "trend" in investing in and increasing cyber security to identify and address new potential weak spots in the supply chain. It will be interesting to see how the stakeholders approach these latest developments in 2024.

With market restrictions being placed on material supply it is very likely that the transparency transition will be led by suppliers of raw materials rather than downstream manufacturers. To access G7 markets, suppliers of key materials will adopt traceability systems voluntarily, in order to front-load transparency data and retain preferred supplier status with downstream clients.

In my opinion, sustainability initiatives will and should be perceived as investments in the future. Right now we are implementing the largest blockchain traceability project in tin on our San Rafael mine in Peru. We expect other minerals producers to follow, and traceability to become a more common practice for all minerals, especially the critical ones.