SMX and FinGo Partner to Enhance Mining Supply Chain Transparency

SMX (Security Matters) PLC has announced a collaboration with Sthaler Ltd, developers of FinGo ID. This partnership aims to create a centralized reporting platform to bring transparency to the artisanal and small-scale mining (ASM) sector. The focus is to ensure that ASM gold exports are ethically sourced. According to the World Bank, over 100 million people depend on ASM for their livelihoods.

The collaboration aims to tackle industry challenges such as ethical sourcing, child labor, chemical use, and miner identification. SMX's technology allows for traceability from source to final product, while FinGo provides a biometric-based ID system for securing the supply chain. The partnership seeks to enhance transparency, improve governance, and introduce real-time digital auditing, offering secure payments and end-to-end traceability.