- Minexx, the responsible critical mineral trading company, secures USD$20 million Islamic finance investment to accelerate its AI powered digital platform – MineSmart AI
- Use of AI will allow for automated pricing, price risk management and supply chain fraud detection
- Islamic finance’s profit-sharing model promotes equity, sustainability and local economic growth
Minexx, a global leader in responsible critical mineral trading, has secured a landmark USD$20 million Islamic finance investment.
This funding will enable Minexx to scale its AI-powered digital platform and expand responsible mineral sourcing in some of the world’s most complex but resource-rich regions.
With global demand for critical minerals projected to surge by up to 600% by 2040, as the world shifts to renewable energy, Minexx is addressing a critical gap in the mineral supply chain.
MineSmart AI is a proprietary platform developed by Minexx to digitalize operations from mine to final product. It leverages AI for price risk management, optimizing buying and selling decisions based on London Metal Exchange (LME) trading data, while also ensuring ethical trade practices through AI-driven compliance validation. This innovative platform serves as the foundation for Minexx’s Islamic working capital facility, enabling a more transparent, efficient, and responsible mining supply chain.
Mansoor Hamayun, Co-founder and Chairman, Minexx, said: “Islamic finance is the perfect partner for the securing of critical minerals for the net zero transition. So far this type of capital has been largely untapped, but the profit-sharing and transparency which underpins this type of finance is crucial for a just transition.
“It brings unprecedented transparency and fairness in the value chain – which benefits the miners on the ground, through to the investors which are backing Minexx. All can benefit from the upside that the significant demand for critical minerals provides – but in a way which is essential for this sector to develop in the right way.
“It is Islamic finance which enables us to do this, and I believe this deal will be the first of many in the sector.”
Khofiz Shakhidi, CEO and Chairman, Jefferson Capital Ltd, said: “We are happy to be supporting Minexx; the company has a young and dynamic team with a focus on Africa. We are impressed with the rapid growth and profitability, and we believe in their future success.”
The investment, led by Jefferson Capital and with participation from other prominent family offices, is a pioneering deal that paves the way for future Islamic finance to flow into the sector.
With this new investment Minexx will:
- Expand operations in Africa and Latin America, building on the success of its initial USD$10 million deployment
- Provide fair financing to responsible miners, offering capital, rewarding responsible practices and sustainable operations
- Drive local economic development, empowering communities through sustainable growth
- Ensure transparent profit distribution, guaranteeing value is shared equitably among miners, investors and buyers
- Strengthen supply chain partnerships with manufacturers and energy companies committed to responsibly sourced minerals