Financial NewsLuminos Graha wins support from Sulawesi Central Government for...

Luminos Graha wins support from Sulawesi Central Government for blockchain-based nickel mining project, launches token

  • Luminos Graha secured government endorsement for introducing the technology of blockchain to nickel mining projects in Sulawesi mines.

Singapore, 13 Sep 2021, ZEXPRWIRE, Renowned Indonesian nickel mining company, Luminos Graha, is pleased to announce the much-awaited collaboration with Sulawesi Central Government for its futuristic blockchain-based mining project, Luminos Mining Protocol. Following the collaboration, Luminos Graha has launched its first-ever cryptocurrency coin. LUMI Coin, as the coin is known as, aims to combine state-of-the-art blockchain technology and smart contracts to increase the efficiency in the Nickel supply chain, amid the global rising demand for Nickel.

Luminos Mining Protocol is a joint endeavor between Luminos Graha Group and Singapore-based leading investment firm, Geneva Capital Singapore with technological support from IdeaFactory by WIliamDevelopment.

“We are excited to share with you all that we have finally been able to win over the support from the Sulawesi Central Government for our innovative blockchain-based mining project, Luminos Mining Protocol. Our aim is to redefine and modernize the nickel mining sector by integrating the cutting-edge technology of blockchain with nickel mining. But, such a state-of-the-art project requires support from the authorities. We are grateful to the Sulawesi Central Government for acknowledging our innovative approach and rendering us the needed support required to turn our project into a reality”, stated Andri, the CEO of Luminos Graha Group.

As one of the biggest exporters of Nickel, Indonesia maintains strict control over mining companies. The company only allows mining companies with a great track record and good operational practices to conduct mining activities and avail concession access. Luminos Graha Group is one of the handful of companies to receive approval from the government.

A name of big repute in the nickel mining space today, the company has been operating for over 2 decades now. Luminos Graha has adopted a real business application approach using blockchain technology to build its own native ecosystem which is supported by offline mining work.

“We have access to the mining concessions of 8 different mining sites in Central Sulawesi. We have plans to boost up our mining operation in the coming year to meet the rising demand for nickel worldwide, especially to cater to the dramatic rise in electric vehicles. With such plans lined up, it was extremely vital for us to secure the support from the Sulawesi Central Government. We are glad that the authorities have believed in us and have stepped forward to support our vision.”

Speaking on, Andri stressed they are geared up to resolve the common problems in the existing nickel mining space. These include- unsafe working conditions; challenges faced with accessing high-quality ore; problems faced with verification of traceable activities; inability to maintain the accuracy of information; complicated mining value chain, and more.

Luminos Graha has developed multiple solutions to combat these problems. To start with, the company has developed the Luminos Mining Protocol which would work to ensure safe working conditions for workers in nickel mines. The advanced blockchain-based project will also help to ensure the quality of the ore with an authentic quality certificate.

Besides, Luminos has strategically incorporated blockchain technology with its mining project to keep transactions traceable. It will keep stakeholders connected on a single chain, thereby enabling a secured exchange of trade documents through the help of smart contracts. Also, the use of blockchain technology will work to simplify the otherwise complicated mining value chain.

Luminos Graha Group’s new approach in mining ushers in a new breakthrough in the field of global cryptocurrency adoption, while proving the application of blockchain technology is not limited to making financial transactions only, but can also be applied to mining and supply chain management.

Luminos Mining Protocol is currently live on public pre-sale, and has already raised 2.5 million USD in the previous round of funding.

For more information, please visit luminosmining.com.

Media Contact 

Company :  Geneva Capital Pte Ltd company

Email: [email protected]

Website: www.genevagroup.co

The post Luminos Graha wins support from Sulawesi Central Government for blockchain-based nickel mining project, launches token appeared first on Zex PR Wire.

Latest news

ChangeNOW Lists ZKsync’s $ZK Token: Improving Ethereum Network Scalability

Kingstown, Saint Vincent and the Grenadines, 20th June 2024, ZEX PR WIRE, ChangeNOW, a leading non-custodial cryptocurrency exchange platform,...

Webinars: A Timeless Tool For Connecting And Discussing

Dubai, UAE, 19th June 2024, ZEX PR WIRE, Today, when connectivity is king and knowledge is just a click...

MEBIS Dubai to Showcase Latest Banking Technologies and Trends at Upcoming Event

Dubai, UAE, 19th June 2024, ZEX PR WIRE, The Middle East Banking Innovation Summit 2024 (MEBIS), an exclusive gathering...

Pentagon Games Announces Landmark Partnership with Tiffany McCall

Dubai, UAE, 19th June 2024, Pentagon Games is thrilled to announce our partnership with Tiffany McCall, an internationally acclaimed...

Ecotrader: Revolutionizing Renewable Energy Investments with RWA Tokenization

Tel Aviv, Israel, 19th June 2024, ZEX PR WIRE, In the rapidly evolving landscape of financial investments, Ecotrader is...

Nummus Casino Announces the Presale of $Nummus Token with Unique Rewards and Bonuses

London, UK, 18th June 2024, ZEX PR WIRE, Nummus Casino, the popular web and Telegram-based casino and sportsbook, is...

Must read

How SportsMint’s Presale Brings Long-Term Benefits?

In the fast-changing world of Decentralized Finance (DeFi) and...

Hungama joins forces with BharatBox for an Unprecedented Digital Odyssey

BharatBox, in collaboration with The Sandbox announces the launch...

BharatBox & Mahabharata: A Metaverse Renaissance in Storytelling Brilliance

BharatBox, the India destination within The Sandbox, in collaboration...

Unlocking the Power of Belief: Ramsena Coin Introduces the First Hindu Cryptocurrency and Virtual Revolution.

Ramesena Coin, the world's biggest virtual connection of Hindutva,...

USD 19,500, the new key price of bitcoin to start an upward movement

Key facts: In the past, $19,500 has been a resistance...

You might also like
Recommended to you