Rwanda appealed to the blockchain to track the movement of tantalum — the metal used in consumer electronics, for solving problems related to conflict minerals in the world markets.
The Minister of the Rwandan government, Francis Gatare (Gatare Francis), who is also the General Director of the Mining and oil and gas Council in the country, announced
about the blockchain-the project at the meeting of the Rwandan mining Association on October 16. He said that “a new and innovative solution for tracking mineral resources” have been done “at least one exporter from Rwanda”.
Nature, Rwanda is one of the main exporters of tantalum in the world, producing more than half of all global reserves according for 2014. However, mineral markets treat it all with greater caution, considering tantalum is a conflict mineral, given the regulatory agreement, aimed at restricting the illicit side of the trade.
To help the technical side of the initiative, the government has teamed up with London start-up Circulor provides a solution for tracking the supply chain created on Hyperledger Fabric. This product in particular is aimed at promoting ethical sourcing, mining minerals.
Blockchain-based platform will be used to track the tantalum mined in Rwanda throughout the supply chain. According to a press release, mining company PRG Resources, which provides tantalum technology giant Apple took part in a pilot project and now implements it in practice.
Douglas Johnson Poensgen (Douglas Johnson-Poensgen), CEO of Circulor, said:
“Circulor not only help the miners in Rwanda to adhere to strict guidelines set forth in international agreements to remove conflict minerals from their supply chains, but also will record all the stages of production before the smartphone or the computer will reach the consumer.”
The use of technology of the blockchain and smart contracts for traceability is rapidly gaining momentum in the mining industry. In may this year, diamond giant De Beers tested
blockchain to track the supply of diamonds.