The MineralCare® Initiative
MineralCare provides an end-to-end validation system that can be used to track minerals from the rock face to the end user. Based on the acclaimed DiamCare platform that provides compliance to the Kimberley Process Certification Scheme for diamonds, it provides a comprehensive framework to ensure minerals are sourced ethically and with due regard for the environment.
This is an obvious fit for Choice Forex. Our own commitment to increasing transparency and inclusion in international finance matches perfectly with the MineralCare determination to improve behavioural traits in the mineral supply chain. By integrating the two systems we create a level of validation and transparency that allows us to facilitate ultra-fast payments, at highly beneficial rates, right along the supply chain.
Artisanal mining can't be brought to international standards of safety and fair trading overnight, but by joining full supply chain accreditation with ethical, dependable payment rails, we create an industry that can grow and create prosperity for everyone.
The control application of MineralCare® complies with the international standards and guidelines of the OECD. It identifies risks using the MineralCare Risk Mitigation and Due Diligence tool.
Authorised members are able to trade with each other in the confidence of a responsible supply chain through the Credential Authorization Tool.
The Supply Chain Activity Platform provides members with full auditing information.
MineralCare's innovative Extraction to End-user Tracking Application gives members a view of the custody of minerals at every step of their journey from extraction to end user.
The MineralCare platform provides an exceptionally complete picture of all of the players directly involved in the mineral supply chain. It provides more than just assurance that the ore has been obtained and processed ethically and ecologically, it allows all of the levels in the chain to work together with mutual trust and confidence.
The Choice Forex MineralPay system builds on this sound base by extending that diligence into global payments. Detailed background information is gathered on every participating business, from shipping manifests and invoices to employment records and media mentions. State of the art document validation detects fraudulent papers or duplicate identities. And all of this technology happens smoothly and seamlessly in the background, causing no delays to rapid approval and payment.
Once cleared through MineralCare and Choice MineralPay, our unmatched currency network provides keen exchange rates to lodge payments into the vendor's bank within 24 hours.
It's an ideal partnership that creates the most secure, fair and safe mineral trade in the world.