Background

Boliden Mineral AB, a major player in the mining and smelting industry, took a bold step into the future in 2023. They knew that to maintain their competitive edge, they had to uphold high standards of accountability and provenance for their products, especially their low carbon copper offering. This led them to partner with the innovative blockchain startup, Myneral, to develop bigger, better systems of traceability using blockchain technology.

Objectives

• Verify the low carbon status of Boliden’s copper products.
• Establish a comprehensive product passport for traceability.
• Enhance mass balance through accurate tracking.
• Achieve advanced compliance with international environmental standards.

Solution and Implementation

Myneral, drawing on their prowess in blockchain technology, designed a system specifically suited to Boliden’s needs. The Myneral system documented all the emissions-related information for each product, providing an efficient and transparent method of validating carbon footprints as never seen before. A product passport – a comprehensive digital document detailing vital information about the origin, carbon footprint, processing, and final destination of each product – was integrated into Boliden’s systems. This allowed for a higher level of transparency and streamlined traceability. On top of these, the blockchain system enhanced the existing mass balance, improving tracking, reducing discrepancies, and improving data accuracy. This new interconnected network enabled Boliden to maintain a more robust input-output balance of resources.

Results

• Efficient Validation: Quick, reliable validation of the low carbon footprint of Boliden’s copper raised confidence among all stakeholders.
• Improved Chain of Custody: With product passports, Boliden could effortlessly demonstrate complete transparency about product origin and processing throughout its journey to the end customer.
• Enhanced Mass Balance: The improved mass balance system resulted in significant reductions in discrepancies and wastage of resources.
• Compliance: The bold embrace of blockchain technology highlighted Boliden’s commitment to adhere to international environmental standards and its dedication to a sustainable future.

Conclusion

Technology can be a powerful ally in our journey towards transparency, responsibility, and sustainability. Boliden’s partnership with Myneral is a testament to the enormous potential of technologies like blockchain in driving the sustainable evolution of industries. This case study is just the beginning, a glimpse into the potential future of the mining industry, where compliance with environmental standards and transparent traceability becomes the norm, not the exception.