POWERCHINA SYNOHYDRO has issued a letter of intent to Luminos Graha to discuss joint ventures into nickel mining around the Sulawesi region.
Jakarta, Indonesia, 24 Sep 2021,ZEXPRWIRE, Leading Indonesia-based nickel mining company Luminos Graha has recently launched a revolutionary blockchain-based mining project which has already started to garner attention from various quarters, including international companies. The latest to express interest is the esteemed POWERCHINA SINOHYDRO that has already sent a letter of intent to the Indonesian mining powerhouse citing its intention to collaborate with the company in its latest mining project around the Sulawesi region. With the rising popularity of electric cars worldwide that has led to increasing demand for nickel, China is also looking forward to venturing into electric cars through collaboration with Luminos Graha’s advanced nickel mining project.
Luminos Graha recently bagged the collaboration with Sulawesi Central Government for its next-gen blockchain-based mining project, Luminos Mining Protocol. Shortly after the collaboration, the company launched its cryptocurrency coin (LUMI Coin) that combines futuristic blockchain technology and smart contracts to enhance the efficiency of the Nickel supply chain.
A major division of POWERCHINA, SINOHYDRO is a leading hydropower engineering and construction company that currently employs 210,000 people. The company boasts extensive experience in Nickel Mining sector in Indonesia and has been majorly involved in two big nickel mining projects in the country- Konawe Nickel Mining and Logistics Land Transportation Project in Konawe, Southwest Sulawesi and TAS Nickel Mining Exploration Project in Morowali, Central Sulawesi.
“It has been an honor to receive the letter of intent from the prestigious POWERCHINA SINOHYDRO for our blockchain-based nickel mining project”, stated William Wang, the CTO of Luminos Graha, while speaking about receiving interest from POWERCHINA SINOHYDRO.
Interestingly, POWERCHINA SINOHYDRO is not the first State-owned enterprise to approach Luminos Graha for its innovative blockchain-based nickel mining project. The nickel mining powerhouse has received interest from many other State-owned companies in the recent past as well.
However, Luminos Graha has adopted a different business approach and aims to remain independent with its own mining operation.
“We are deeply grateful to POWERCHINA SINOHYDRO for taking interest in our new project and for believing in us. But, we have decided to follow an independent operation this time. However, growing interest from such elite enterprises serves as a huge inspiration and renders the assurance that we are walking the right path and that’s a huge morale boost for our whole team.”
Speaking on, Mr. Wang mentioned that the Luminos Mining Protocol is designed with the mission to resolve some typical problems that have been plaguing the existing nickel mining sector for a while now. These are –
Unsafe working condition of mine workers
Problems in accessing premium quality ore
Challenges faced with verification of traceable activities
Difficulty in maintaining accuracy of information
Complex mining value chain
“Luminos Mining Protocol has been strategically developed to assure both safe working conditions for workers as well as to guarantee the quality of the ore with an authenticity certificate. Moreover, we have invested in blockchain this time as the cutting-edge technology helps to keep transactions traceable as well as simplify the complex mining value chain.”
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