Fintech PR
Why Canada Has Become Lithium Central, With a Cesium Sweetener
FN Media Group Presents Oilprice.com Market Commentary
LONDON, June 27, 2023 /PRNewswire/ — Canada is minting some of the biggest new critical metals miners in the world, and international money has been pouring into this corner of the lithium sector for the past year and a half, pushing million-dollar market-cap miners over the billion-dollar mark and completely changing the game. Companies mentioned in this release include: Sociedad Química y Minera de Chile S.A. (NYSE: SQM), Albemarle Corporation (NYSE: ALB), Lithium Americas Corp. (NYSE: LAC), Freeport-McMoRan Inc. (NYSE: FCX), BHP Group (NYSE: BHP).
Junior miner Patriot Battery Metals (PMETF) made a huge lithium discovery in 2022 and saw its market cap explode by over a billion. This might have been the main attraction in North American lithium in recent months, but now a new attraction is emerging, and it’s not just about lithium.
The new attraction is Ontario’s Case Lake, a property that has lined up discoveries of three of the world’s critical metals: lithium (Li), tantalum (Ta) and the exceedingly rare cesium (Cs). In addition to a trifecta of critical commodities, it also enjoys three distinct advantages over last year’s biggest North American lithium finds: Easy access (no helicopters required), full infrastructure (including cell phone signals), and pegmatite that is exposed on the surface and running less than 50 meters deep for some of the least expensive mining in Canada.
It’s an attraction that has earned Power Metals Corp (PWM,PWRMF), the 100% owner of the Case Lake property, attention and investment from some of the biggest names in critical metals mining.
Power Metals was an early player that started out with a high-grade lithium discovery in 2017. A year later, while still exploring for lithium, Power Metals hit a rare surprise: cesium, a critical metal so rare that it has recently become the focus of a superpower battle between China and the West.
This set-up is why Australian mining giant Winsome Resources jumped at a unique opportunity that arose when the Canadian Federal Government ordered all Chinese companies to divest shares in Canadian critical metals mining companies late last year, citing national security concerns.
When Winsome scooped up Hong Kong-based Sinomine’s Resources Group shares in Power Metals it was eyeing that 3X collection of commodities.
Then Winsome doubled its stake (from 5.7% to 10.13%) after it looked under the hood of Case Lake and saw the clear advantages that appear to indicate it could be a much faster and cheaper development than other lithium-focused projects.
The chance to get in on the first potential cesium play in North America wasn’t lost on one of Winsome’s biggest shareholders, either. Shortly after Winsome doubled its stake, Waratah Capital (one of the largest lithium funds in the world) moved to invest in Power Metals and then used its Lithium Royalty Corp to purchase a 2% royalty on future Case Lake lithium production for C$1.5 million.
The Case Lake Discovery
So far, Power Metals has drilled 80 drill holes over some 15,000 meters at Case Lake, making a significant world-class, high-grade (over 4%) lithium discovery at very shallow, open depth.
Some highlights from this discovery include:
- 1.94% Lithium and 323.75pp Tantalum over 26 meters
- 2.07% Lithium and 213.96pp Tantalum over 18 meters
- 4.75 % Lithium and 396.00pp Tantalum over 2 meters
- 1.71 % Lithium and 240.77pp Tantalum over 12 meters
- 1.20 % Lithium and 218.68pp Tantalum over 19 meters
Then, the real surprise: a cesium discovery with some of the highest-grades found in decades (up to 24% at good intervals).
Highlights from that discovery include:
- 24.07% Cesium over 1 meter
- 20.36% Cesium over 1 meter
- 22.22% Cesium over 2 meters
- 7.65% Cesium over 7.09 meters
Now, with a new class of Western investors on board, doubling their stake and bringing on Winsome’s Managing Director, Chris Evans, to the board and a veteran international mining financier as CEO (Gerry Brockelsby) to the game, the Case Lake project has been shifted into overdrive. And Power Metals is now fully funded for the next two years of its planned exploration, which includes an additional 15,000 meters of drilling, starting any day now.
Canada’s Critical Metals Mission
For North America, the future is all about ensuring an absolutely secure supply of critical minerals, and that means keeping Chinese hands out of the pie to avoid Beijing’s weaponization of metals that are the key to global technological superiority.
On the lithium and cesium front, Canada is leading this cold war because of its geology, but it’s doing it with full-on support from the United States. While lithium is a key concern when it comes to supply chains for a North American energy transition, cesium is the national security bogeyman.
Cesium’s high-level applications lend it superpower status. From its application in high-pressure, high-temperature offshore oil and gas drilling to its vital role in the global 5G race, it’s as rare as it is vital.
Cesium bromide is used in infrared detectors, optics, photoelectrical cells, scintillation counters and spectrometers. Even more critically, cesium is necessary for maintaining atomic resonance frequency standard in atomic clocks: That means if there is no cesium, there are no aircraft guidance systems, no global positioning satellites, and no internet and cellular telephone transmissions.
When the Canadian Federal Government moved last November to kick the Chinese out of the North American critical metals game, specifically focusing on Sinomine’s stake in Power Metals (PWM,PWRMF), it was a wake-up call for investors.
The Showdown Has Begun, And Resource Companies Are In The Spotlight
Albemarle Corporation (ALB), based in North Carolina, is a leading specialty chemical company with a particular focus on lithium production. Its Lithium and Advanced Materials segment leverages its lithium expertise to deliver solutions to its customers. The company also offers bromine and bromine-based solutions and catalysts, among other things.
The expansive global presence of Albemarle, with operations in several countries worldwide, presents a diversified operational risk, which could be attractive to investors. Furthermore, the company’s focus on lithium, a key ingredient in the rapidly growing electric vehicle market, could make it an interesting prospect for investors anticipating continued growth in the EV sector.
Sociedad Química y Minera de Chile (SQM) is one of the world’s leading lithium producers, with operations concentrated in Chile. The company is involved in various areas, including specialty plant nutrition, iodine and derivatives, lithium and derivatives, industrial chemicals, and potassium.
Its presence in the lithium market is particularly robust due to the company’s access to Chile’s abundant lithium reserves. Investors could be attracted to SQM for its lithium production capacity and its strategic location in one of the world’s most lithium-rich areas. The diversified product offering also adds to its resilience and appeal for potential investors.
Lithium Americas Corp (LAC) is a Canadian-based lithium company with two world-class lithium projects in Argentina and the United States. The company’s projects, Cauchari-Olaroz and Thacker Pass, are among the largest and most promising lithium operations globally.
LAC’s growth potential might be attractive to investors, given the increasing global lithium demand, primarily driven by the electric vehicle and renewable energy sectors. Its strategic geographic presence in two key markets, North America and South America, also underscores its appeal.
Freeport-McMoRan Inc. (FCX) is one of the world’s leading copper producers, with operations primarily concentrated in North and South America. Besides copper, the company also produces significant amounts of gold and molybdenum. FCX’s expansive operations and its strategic location in copper-rich regions may attract potential investors.
Additionally, the company’s exposure to copper, a metal with growing demand in the green energy sector due to its use in wind and solar energy technologies and electric vehicles, may make it appealing for those interested in betting on the renewable energy transition.
BHP Group (BHP) is a multinational mining, metals, and petroleum company with a diverse portfolio of operations around the world. Its main products include iron ore, coal, copper, and petroleum, with a growing focus on nickel and potash. The diversity of BHP’s portfolio can act as a hedge against price volatility in any single commodity, which could appeal to investors looking for stability in the often volatile mining sector.
Moreover, BHP’s recent efforts to capitalize on the growing demand for battery metals,, present an attractive opportunity for investors anticipating the continued expansion of the electric vehicle and energy storage sectors.
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Fintech
Fintech Pulse: Industry Updates on Regulatory Pressures, Fraud Prevention, Humanitarian Finance, and Strategic Sales
As fintech companies continue to shape the global financial landscape, regulatory pressures, fraud prevention, human-centered financial services, and high-stakes acquisitions are front and center. Today’s briefing dives into the most recent developments impacting the fintech ecosystem. The following op-ed reflects on these shifts, bringing an analytical view of the news from regulatory frictions to strategic partnerships, framed within the complex interplay between technology, finance, and global regulations.
Lawmakers Sound the Alarm on Fintech Regulatory Overreach
In the evolving U.S. fintech landscape, a tug-of-war between federal and state regulators is heating up. Lawmakers have raised concerns about regulatory overreach, warning that fragmented federal and state frameworks could hinder fintech innovation and growth. Federal agencies, particularly the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB), have clashed with state regulatory bodies. These frictions have emerged over issues like state licensing requirements, the use of “true lender” rules, and the boundaries of federal preemption.
As fintech firms work to innovate, they often encounter a regulatory quagmire where state and federal rules overlap or contradict each other. For instance, the “true lender” doctrine continues to provoke disputes on jurisdiction, as it can dictate the level of oversight a fintech lender might face. States argue that fintech companies leveraging national banking charters to circumvent state regulations are violating consumers’ rights and disrupting fair financial access.
From an op-ed perspective, it’s clear that this regulatory tug-of-war has significant implications for fintech firms and the consumers they serve. State-level regulators have a point: a more localized approach might better protect consumers from predatory practices and opaque pricing. However, the federal approach offers a harmonized path that could encourage interstate fintech expansion. The tension, however, threatens to stall industry innovation, leaving companies in regulatory limbo and consumers with uneven protections.
Source: PYMNTS News, October 2024
Fraud and AML Losses Increase, Pressuring Fintechs to Adapt
In a recent report by Unit21, the scale of fraud and anti-money laundering (AML) losses within the fintech sector has come into stark relief. The report highlights an estimated annual loss of billions for fintech companies due to fraud and AML breaches. Key issues range from inadequate identity verification processes to evolving cyber threats, which bad actors exploit to perpetrate fraud.
Unit21’s findings suggest that while fintech companies invest heavily in technology, they often fail to keep up with the agility of fraud tactics. The report underscores how fraudsters adapt to changes in fraud-detection protocols faster than expected, using techniques like synthetic identity fraud, account takeovers, and elaborate money laundering schemes. This has intensified the need for robust Know Your Customer (KYC) and AML mechanisms, as traditional defenses prove ineffective against modern fraud techniques.
From an op-ed lens, the impact of fraud losses on fintechs isn’t limited to financial losses. It also erodes trust, one of the most valuable assets for fintech platforms. To maintain consumer confidence, companies must take a more proactive stance in combating fraud. Advanced solutions incorporating AI and machine learning are pivotal for effective fraud detection and prevention, yet they must be implemented carefully to avoid false positives that frustrate legitimate users. The report’s insights remind us that innovation without security measures is an open invitation for exploitation.
Source: The Paypers, November 2024
Internet Computer Protocol Supports “Fintech for Humanity” at Singapore Fintech Festival 2024
At this year’s Singapore Fintech Festival, Internet Computer Protocol (ICP) announced its support for the “Fintech for Humanity” initiative, highlighting the role of digital financial solutions in addressing global humanitarian challenges. As part of this event, ICP has focused on creating scalable, decentralized technologies aimed at providing financial services to underserved communities globally.
This initiative aligns with a growing trend in fintech—harnessing technology to promote social impact. ICP’s endorsement of “Fintech for Humanity” underscores a commitment to financial inclusivity, promoting a decentralized financial ecosystem that extends beyond the traditional banking infrastructure. By leveraging blockchain technology, ICP seeks to empower populations without bank access, addressing social issues from poverty alleviation to emergency financial aid.
In an industry often accused of prioritizing profit over people, “Fintech for Humanity” serves as a refreshing counter-narrative. The backing from a player like ICP brings credibility and visibility to humanitarian fintech efforts, paving the way for innovations aimed at social good. This shift is likely to inspire other fintech companies to explore similar initiatives, recognizing the need for ethical considerations in the financial technology space.
Source: PR Newswire, November 2024
Strategic Acquisition: One Equity Partners Sells Dragonfly Financial Technologies to FIS
In a strategic move, One Equity Partners has completed the sale of Dragonfly Financial Technologies to FIS, marking a significant consolidation within the fintech landscape. Dragonfly, known for its payments solutions, has developed an extensive suite of technology that enhances real-time payments capabilities, an increasingly sought-after service in today’s fast-paced financial environment. This acquisition is expected to bolster FIS’s digital payment infrastructure, as they integrate Dragonfly’s offerings into their extensive portfolio.
The transaction points to a broader trend of consolidation in fintech, where established players acquire specialized firms to expand their service offerings and remain competitive. FIS’s acquisition of Dragonfly is particularly timely, as the demand for streamlined payment solutions grows. Real-time payments are becoming more critical, not only for enhancing the user experience but also for responding to regulatory demands for greater transparency and security.
From an op-ed perspective, FIS’s strategic acquisition of Dragonfly is indicative of a maturing industry. Mergers and acquisitions (M&A) activity in fintech is a double-edged sword. While it consolidates resources and expertise, it also reduces market competition, potentially stifling smaller players. As the industry evolves, M&A will likely intensify, challenging regulators to balance fostering innovation with maintaining competitive fairness.
Source: Business Wire, November 2024
AZA Finance Secures PSP License in Nigeria, Marking Milestone for Fintech Expansion in Africa
AZA Finance has announced that its subsidiary has been granted a Payments Service Provider (PSP) license by the Central Bank of Nigeria. This license authorizes AZA Finance to offer digital payment solutions within Nigeria, an emerging market with a rapidly growing demand for financial services. The PSP license enables AZA Finance to expand its presence in Africa’s fintech ecosystem, supporting digital transformation across the continent.
This development underscores Nigeria’s commitment to digital finance, especially as the country works toward achieving broader financial inclusion. AZA Finance’s PSP license enables the company to leverage its cross-border payments solutions, which are designed to streamline transactions in diverse African markets. This milestone is not only significant for AZA Finance but also for Nigeria, as the license positions the country as a regional fintech hub.
Looking forward, Nigeria’s regulatory environment will play a critical role in shaping fintech’s impact on the economy. The Central Bank’s move to grant PSP licenses is commendable, signaling a welcoming stance for fintechs. However, maintaining robust oversight will be essential to prevent issues related to money laundering and ensure consumer protection as fintech expands.
Source: Business Wire, November 2024
Conclusion
In today’s fast-paced fintech environment, companies are navigating complex regulatory landscapes, tackling evolving fraud threats, expanding social impact initiatives, consolidating through acquisitions, and making strategic moves in emerging markets. This briefing provides an overview of the latest developments, reflecting the diverse and rapidly shifting priorities within the fintech industry. Regulatory clarity, technological vigilance, and ethical considerations are increasingly pivotal as fintech firms redefine the boundaries of finance on a global scale.
The post Fintech Pulse: Industry Updates on Regulatory Pressures, Fraud Prevention, Humanitarian Finance, and Strategic Sales appeared first on HIPTHER Alerts.
Fintech PR
Gnosis Gathers Vitalik and Other Industry Heavyweights for Blockchain’s Biggest Debates at Inaugural DevConflict
- Featuring seven matchups over two days, DevConflict will facilitate discussions on some of the industry’s biggest questions and divides.
LONDON, Nov. 5, 2024 /PRNewswire/ — Gnosis, the architects of the fully EVM-compatible Layer-1 Gnosis Chain, today announces the launch of DevConflict, a credibly neutral forum ahead of Devcon aimed at finding a resolution to the biggest divides and questions in Web3. Taking place from the 9th to the 10th of November in Bangkok, DevConflict will be hosted at the Siam Society Under Royal Patronage, a short walk from the main Devcon venue, the National Convention Centre.
Martin Köppelmann co-founder of Gnosis said: “Devconflict stands as the premier arena for Ethereum’s most crucial discussions. Whether it’s shaping the future of staking, solving blockspace scalability, or strategizing the onboarding of the next billion users, we offer a neutral platform for the community to address these core challenges directly. We’re proud to host Ethereum’s leading minds as they drive these essential conversations, and look forward to fostering dynamic debates that will help chart our collective path forward.”
Featuring seven matchups, DevConflict brings together industry heavyweights in an environment where speakers and attendees engage in in-depth discussions on critical topics. Bucking a trend of pay-to-present conferences, DevConflict is designed to bring speakers outside of their comfort zone and share real substance.
Each 60 minute debate (listed below) covers a core question in the Ethereumverse and will feature candid Q&As. Additionally, by voting on which contender wins the debate, audience members directly contribute to the shaping of the industry’s future:
- Gnosis: L1 vs L2 – Vitalik Buterin (Ethereum Foundation) and Martin Köppelmann (Gnosis)
- Layer 1 vs Layer 2: Evaluating Gnosis Chain’s Potential Network Evolution
- Moderated by Bartek Kiepuszewski (L2BEAT)
- Vanilla Staking vs Liquid Staking – Nixo (EthStaker) and Dmitry Gusakov (Lido)
- Two faces of staking: Vanilla and Liquid Approaches
- Moderated by Brian Crain (Chorus One)
- Protocol Ossification vs Agility – Odysseus (Phylax Systems) and Toghrul Maharramov (Scroll)
- Immutable Foundations vs. Adaptive Evolution: The Future of Blockchain Protocols
- Moderated by Sebastian Bürgel (Gnosis)
- Onboard the Next 1B vs the Next 1M – Remco Bloemen (Worldcoin) and Vadim Koleoshkin (Zerion)
- Onboarding the next 1 billion, or onboarding the next 1 million? Should Blockchain Compromise Ideals for Mass Adoption?
- Moderated by Kartik Talwarn (ETH Global)
- Local Apps vs Cloud Service – Andreas Tsamados (Fileverse) and Michelle Mosh (Protocol Labs)
- Control or Convenience: The Clash Between Local Apps and Cloud Services in the Future of Blockchain
- Moderated by Lefteris Karapetsas (Rotki)
- Larger Blockspace vs Low-Spec Device Compatibility – Nick Dodson (Fuel Labs) and Toni Wahrstätter (Ethereum Foundation)
- Ethereum’s Crossroads: Maximize Capacity or Prioritize Participation?
- Moderated by Pol Lanski (DappNode)
- Should MEV be Tackled at the Application Layer or Protocol Level? – Felix Leupold (CoW Swap) and Tomasz Stanczak (Nethermind)
- MEV Mitigation: Protocol-Level Solutions vs. Application-Layer Approaches
- Moderated by GregTheGreek.eth (Chainsafe)
Beyond voting on the outcome of key debates, Devconflict launches together with a predictions market focused key questions to be discussed at the event. Hosted on Presagio, attendees can take stake on questions including “Will more than 50% of Ethereum transactions be processed on Layer 2 solutions by the end of 2026?” and “Will a major blockchain protocol (Bitcoin, Ethereum, or others in the top 5 by market cap per DefiLlama) announce a permanent freeze on feature upgrades by 2026?”
DevConflict comes on the back of the successful run of Gnosis’ annual flagship event, DappCon in May 2024 which gathered over 900 builders to discuss the latest trends in the Ethereum ecosystem.
General tickets for DevConflict are available and can be purchased here.
About Gnosis
Gnosis is building open applications and infrastructure for the new economy. The Gnosis ecosystem is underpinned by Gnosis Chain, a secure, resilient, and decentralized blockchain that extends Ethereum with lower transaction costs. Gnosis Studios is a product incubator focused on payments, identity, and internet freedom, while GnosisVC is an early-stage investor in projects focused on decentralized infrastructure, real-world assets, and financial rails.
Website | X (Twitter) | Discord | Blog
View original content:https://www.prnewswire.co.uk/news-releases/gnosis-gathers-vitalik-and-other-industry-heavyweights-for-blockchains-biggest-debates-at-inaugural-devconflict-302296827.html
Fintech PR
Former Cointelegraph Editor-In-Chief Kristina Cornèr Joins Exponential Science to Expand Partnerships and Drive Global Strategy
- The foundation will harness the expertise of former Cointelegraph Editor-in-Chief, Kristina Corner as the new Global Head of Strategy and Partnerships.
- The appointment will shape Exponential Science’s strategic vision, enabling the convergence of emerging technologies and driving interdisciplinary research and partnerships.
LONDON, Nov. 5, 2024 /PRNewswire/ — Following October’s successful 10th annual Peer-to-Peer Financial Systems Workshop in Dubai, where the launch of independent foundation Exponential Science was announced, founders Dr. Paolo Tasca and Professor Nikhil Vadgama have bolstered their team with the hiring of former Cointelegraph editor-in-chief, Kristina Cornèr. Kristina will lead the Partnerships and Strategy arm of the foundation, bringing deep expertise in securing new resources and forging impactful partnerships.
Exponential Science was established to address the growing interdependencies among emerging digital technologies and deep tech. It focuses on harnessing the synergy between blockchain and other cutting-edge technologies, including artificial intelligence, quantum computing, AR/VR, and other deep-tech innovations. Scientists have long driven many of humanity’s greatest achievements and translating this academic expertise into actionable insights for businesses and regulators is crucial. To assist with this, Exponential Science has brought on Kristina whose mission is to communicate the foundation’s work effectively across industries and sectors, ensuring its impact reaches both practical and policy applications.
Kristina joins Exponential Science after seven years at leading blockchain publication Cointelegraph. With her extensive knowledge of the digital assets landscape and blockchain, Kristina is expertly placed to help the foundation broaden its connections and expand its research to new audiences in a digestible and engaging way. Kristina is also an accomplished sustainability leader, serving as an ambassador for the Climate Chain Coalition, an international, multi-stakeholder organisation focused on advancing blockchain and digital technologies to support climate action and sustainability. She is also a founding advisory member of 100Women@Davos, which has helped to build a community of female CEOs, leaders, and change-makers dedicated to advancing the United Nations Sustainable Development Goals.
“Exponential Science is uniquely positioned to unite businesses, regulators, and academics to tackle global challenges using the potential of blockchain, AI, and deep tech. I am thrilled to be able to explore powerful narratives within the scientific community and amplify their voices to key players shaping the future of technology. I am committed to advancing impactful ideas and fostering collaboration across industries, communities, and borders,” says Kristina Cornèr.
“Exponential Science’s mission is clear – we want to advance research, innovation, and education of emerging technologies such as blockchain, AI, quantum computing and much more. We want to facilitate the safe and empowering adoption of these technologies so that society can thrive and solve real-world problems. Kristina will play a critical role in growing our partnerships and fine-tuning our strategy so that we can make a real difference in the emerging technology space. We are in an exciting growth stage at the foundation and we look forward to bolstering our team of experts further in the coming months,” says Dr. Tasca.
This month, Exponential Science released its first study, which aimed to quantify the environmental effectiveness of Bitcoin mining bans by estimating the resultant carbon emissions from displaced mining operations. Part of the study examined the effect of Bitcoin mining bans in low-emission countries and found it could result in a significant net increase in global carbon emissions due to redirecting mining activities to regions with higher carbon intensities. For example, a ban in Canada could lead to an increase of almost 6%, or 2.5 million tonnes of CO2 annually.
About the Exponential Science Foundation (ESF)
The Exponential Science Foundation (ESF) is a Hedera-funded independent foundation driven to advance research, education, and innovation across emerging digital technologies/deep tech. With a mission to explore the convergence of blockchain, Artificial Intelligence (AI), the Internet of Things (IoT), and other transformative technologies, ESF aims to drive interdisciplinary collaboration and deliver impactful solutions to challenges faced by society. ESF is committed to fostering sustainable, transparent, and innovative developments that will shape a more advanced and interconnected future. For more information go to: www.exp.science.
View original content:https://www.prnewswire.co.uk/news-releases/former-cointelegraph-editor-in-chief-kristina-corner-joins-exponential-science-to-expand-partnerships-and-drive-global-strategy-302296764.html
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