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  • Mining Giant BHP Completes $14 Million Iron Ore Trade Using Blockchain
    Mining Giant BHP Completes $14 Million Iron Ore Trade Using Blockchain
    Multi-billion-dollar mining group BHP announced it has completed a $14 million iron ore trade using a blockchain platform. The world’s largest mining company BHP Group announced today that it completed a $14 million iron ore trade using a blockchain platform developed by the Canada-based technology company MineHub Technologies.  The transaction was carried out between BHP and  China Baowu Steel Group, a subsidiary of the world’s largest steelmaker China Baoshan Iron & Steel, commonly known as Baosteel. BHP made the announcement regarding the trade last month saying it was planning to execute a blockchain-based iron ore trade with Baosteel. During the trade, BHP used the blockchain platform to digitally process contract terms, exchange documents, and provide real-time cargo visibility, according to a report from Reuters. The