Minexx, secures $20mn Islamic finance investment

Minexx, a digital minerals platform, has successfully secured a landmark $20 million Islamic finance investment to scale its AI-powered digital platform, MineSmart AI. This funding will enable Minexx to expand responsible mineral sourcing in some of the world's most complex but resource-rich regions. The investment aligns with Islamic finance principles, as it operates on a profit-sharing basis rather than charging interest rates, making Minexx more of a partner than a traditional financier. Co-Founder and Chairman of Minexx, Mansoor Hamayun, emphasized the significance of this financing in enabling the company to support SME mines and artisanal miners by providing flexible capital solutions to help them thrive in the market. The $20 million investment will boost Minexx's output, contribute to economic development, job creation, and elevate the sophistication of the industry. By leveraging technologies like blockchain and AI, Minexx aims to revolutionize the ethical trade practices and financial decision-making in the mineral sourcing sector, ensuring compliance with global standards and optimizing financial outcomes for stakeholders across different markets. As the demand for critical minerals continues to surge globally, Minexx is positioned to play a pivotal role in creating a sustainable and transparent supply chain within the markets. By empowering local miners with access to capital for modernization and infrastructure development, Minexx not only fosters economic growth in Africa but also accelerates the region's industrialization and contributes to the energy transition by providing essential minerals. Navigating through regulatory frameworks and complexities in different markets, Minexx focuses on building upon existing mining codes, engaging with government entities to showcase the benefits of new technologies, and partnering with stakeholders to establish trust and compliance in the supply chain. As governments increasingly prioritize critical minerals in their policy strategies, Minexx stands at the forefront of driving innovation and sustainable practices in the industry.