Collaboration With Everledger Enables Britannia Mining to Dig Deeper Into the Value Chain
NEW YORK, Jan. 28, 2016 (GLOBE NEWSWIRE) -- Britannia Mining Inc. (OTC Pink:BMIN), (‘Britannia’ or the ‘Company’), today announced the formation of a strategic alliance with Everledger Ltd (‘Everledger’).
Everledger is a UK based company that is capturing the full DNA of certified diamonds and uploading that to its ledger stored on the Blockchain. The ledger is immutable and functions as a secure, verifiable information source that makes it possible to track the provenance of diamonds.
Britannia Mining is a natural resources development company that has shifted its focus from exploring to trading mineral commodities enabling the company to participate across the entire value chain.
Growth, efficiency and compliance lie at the heart of this venture. The alliance partners believe that Everledger’s proprietary ledger has the potential to incorporate tracking rough diamonds and possibly other high value minerals and metals from mine pit/shaft through to end buyer.
The collaboration of the companies will enable Britannia to further its growth strategy and support a vision to reduce risk and add greater transparency in diamond procurement. Verifiable knowledge of the origin of diamonds is particularly important for KYS - Know Your Supplier compliance.
Commenting on the alliance CEO Kenneth Roberts said:
“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 and Everledger will endeavor to consummate their relationship in a formal Memorandum of Understanding.
Mr. Roberts went on to outline the Company’s vision for 2016:
“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.
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.”
In an upcoming magazine article that outlines the Company’s vision, CEO Kenneth Roberts talks to Europe and Middle East Outlook (www.emeoutlookmag.com) in an interview due to be released on Friday 29 January 2016.
‘Holistic Solutions in the Information Age’ is available to read online from 01/29/16 http://issuu.com/outlookpublishing/docs/eme_outlook_-_issue_10
Safe Harbor
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may,'' "should,'' "expects,'' "plans,'' "anticipates,'' "believes,'' "estimates,'' "predicts,'' "potential'' or "continue'' or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors'' in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov. For all details regarding working interests in all of BMIN's mining prospects or any previous news releases go to OTC Markets website. You should independently investigate and fully understand all risks before making investment decisions.
Notes for editors:
- Blockchain technology was identified at the recent World Economic Forum in Davos as one of the fundamental elements of the Fourth Industrial Revolution.
- Britannia Mining Inc. is a natural resources development company. The primary business is concerned with consolidating and trading raw materials that have been mined by primary producers. Britannia optimizes its management team’s background of exploration, mining operations, banking, legal and logistics to develop trading of a broad range of commodities including gemstones and precious metals.
For more information, please visit www.britanniamining.com
- Everledger provides an immutable ledger for diamond identification and transaction verification for various stakeholders, from insurance companies to claimants and law enforcement agencies.
For more information, please visit http://www.everledger.io
Press Contact: andrea@everledger.io
CONTACT: Nicola Newmarch
nnewmarch@britanniamining.co.uk
+1 (0) 646 580 8933