Fintech PR
Capital is king as miners respond to energy transition
- The energy transition needs the Mining & Metals sector to accelerate growth and build additional capacity. This trend along with the need to maintain capital discipline has elevated capital to the #1 risk for 2025
- Environmental stewardship, a key priority, has become the standout ESG issue
- Resource depletion debuts at #4 and new projects at #8 amid soaring minerals and metals demand, rising exploration costs and a lack of new discoveries
LONDON, Oct. 1, 2024 /PRNewswire/ — The energy transition continues to disrupt the mining and metals sector and drive the leadership agenda, according to the EY top 10 business risks and opportunities survey for 2025.
The EY survey of senior leaders from all the key geographies across the sector shows us that companies are grappling with the challenge of meeting demand for minerals and metals while addressing a trifecta of pressures: maintaining capital discipline, achieving sustainable mining and meeting elevated stakeholder expectations.
These competing priorities highlight the urgent need for mining and metals companies to rethink their strategies to thrive. Two new risks on this year’s radar – resource depletion and new projects – show that leaders understand the need for change.
Paul Mitchell, EY Global and APAC Mining & Metals Leader, says:
“This year, aside from the perennial cost and productivity risk, there has been a noticeable shift in the risks towards strategic issues to meet future demand. Fortunately, miners are not losing sight of ESG obligations, which are critical to attain and retain license to operate and are closely linked with risks like capital and workforce. A surprising finding this year was that workforce was not considered a key risk by 55% of respondents. Given the sector’s significant challenges in attracting and retaining the talent needed to grow, this omission from the radar is alarming.”
Capital emerges as the top risk
Mining companies are under increasing pressure to manage capital effectively while making strategic investments in growth. The continuing focus of miners on M&A needs to shift to building new mines which will inevitably reduce returns in the short term.
Lee Downham, EY EMEIA Mining & Metals Leader, says:
“What’s clear from this year’s study is that capital has emerged as the number one risk for mining companies, signaling a need to shift gears. Miners must move from focusing solely on short-term returns to prioritizing long-term value creation. While they have a strong track record of capital discipline, it’s now crucial to balance this with strategic investments that drive sustainable growth.”
Environmental stewardship has become the standout ESG issue
As environmental stewardship takes center stage, mining companies are prioritizing nature-positive initiatives to meet growing investor expectations. This shift reflects a broader industry focus on environmental concerns, with almost half of respondents (46%) expressing confidence in meeting their nature-positive obligations.
Waste management has become a key area of scrutiny from investors. This year, the focus on waste is broader than just tailings, with progressive miners capturing value through improving mining performance, implementing closed-loop processes to minimize waste, and reprocessing mining waste.
The commitment by International Council on Mining and Metals (ICMM) members to nature-positive goals has also driven greater attention to biodiversity, water management, and other critical ESG issues across the sector
Resource depletion and bringing new projects online becomes a key concern amid rising demand
Resource depletion, ranked #4, and new projects, ranked #8, are new risks identified in this year’s study, driven by soaring demand for minerals and rising exploration and construction costs. Achieving global decarbonization targets by 2050 will require a significant increase in the number of mines and volumes produced. Over the next 30 years, we will need to mine more than we have over the last 70,000 years. However, capital raised for exploration has declined by 4% year-on-year, with budgets favoring gold over critical minerals like copper. Lack of new discoveries and long permitting times add further complexity to the situation and put the energy transition at real risk.
Theo Yameogo, EY Americas Mining & Metals Leader, says:
“With few major copper discoveries in the last decade and an average of 15.7 years to bring a new mine online, we are facing a critical supply gap. Copper is essential to the energy transition, yet exploration budgets have been slow to shift towards critical minerals. Without accelerated investment and innovation in exploration, the world’s decarbonization goals are at serious risk.”
For more information on the latest mining and metals developments and to view the full report, visit here.
Contact:
Aparna Sankaran
EY Global Media Relations
+44 (0)207 480 245082
[email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/capital-is-king-as-miners-respond-to-energy-transition-302264007.html
Fintech PR
Xinhua Silk Road: Conference on deepening financial openness and co-op in Northeast Asia held in NE. China’s Shenyang
BEIJING, Dec. 27, 2024 /PRNewswire/ — The 2nd Northeast Asia Finance Conference and 2024 “Revitalizing Liaoning with Finance” Excellent Cases Release kicked off on Tuesday in Shenyang, capital of northeast China’s Liaoning Province, aiming to further deepen financial openness and cooperation in the Northeast Asian region and advance construction of a regional financial center.
The main forum held a series of activities, including an opening ceremony, two round-table dialogues on “finance + biomedical industry” and “finance + cultural industry”, a symposium for foreign financial institutions, a seminar on innovative development of financial clusters, a forum on development of technology and finance, a forum on industrial low-carbon transformation and financial innovation, as well as an enterprise project roadshow and industry-finance matchmaking event.
During the conference themed on “accelerating the construction of a regional financial center in Northeast Asia and creating a new highland for opening up”, excellent cases of revitalizing Liaoning through finance in 2024 were unveiled and the index for core areas of regional financial centers in northeast China was released.
The conference also held an unveiling ceremony for the upgrading of the Shenyang finance and trade development zone to a national-level development zone, and a launch ceremony of a platform for Shenyang industrial insights and decision analysis.
The conference was co-hosted by China Economic Information Service, Liaoning Branch of Xinhua News Agency, Shenhe District People’s Government, Shenyang local financial administration under guidance of Shenyang Municipal People’s Government and Liaoning local financial supervision and administration bureau.
Original link: https://en.imsilkroad.com/p/343777.html
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View original content:https://www.prnewswire.co.uk/news-releases/xinhua-silk-road-conference-on-deepening-financial-openness-and-co-op-in-northeast-asia-held-in-ne-chinas-shenyang-302339538.html
VILNIUS, Lithuania, Dec. 27, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the launch of ALTCOIN Index, the first futures trading pair involving top altcoins. This innovative trading product offers users a one-click solution to efficiently track and trade major cryptocurrency trends with ease.
Traditionally used in stock markets, a futures index is a financial derivative that tracks the performance of a group of assets, such as stocks of commodities. These instruments were first introduced to simplify trading by allowing investors to speculate on or hedge against the collective movements of selected market sectors. Instead of purchasing individual stocks, traders are able to access broad market exposure in a single transaction, saving time and reducing costs.
In the cryptocurrency market, this new ALTCOIN/USDT futures trading pair works similarly by bundling the performance of the top mainstream cryptocurrencies by market capitalization, excluding Bitcoin (BTC) and stablecoins. The current index includes ETH, XRP, SOL, BNB, DOGE, ADA, TRX, AVAX, and SHIB. This approach is more efficient compared to buying individual cryptocurrencies or ETFs as this allows for direct speculation using tiered leverage options without the need to manage multiple positions, effectively diversifying trading risks associated with individual asset volatility.
Vivien Lin, Chief Product Officer of BingX, commented on the new offering: “By aggregating a range of leading cryptocurrencies into a single trading instrument, we’re giving users a practical and efficient way to better capture market trends. This index trading pair should help our less experienced users with their trading goals more easily, particularly when they are unsure which asset to trade and just want to trade major altcoins in general with leverage.”
BingX users can take advantage of tiered leverage options and competitive rates consistent with the platform’s perpetual futures terms, simplifying open order management and enhancing trading efficiency. The platform also ensures that the index composition remains current, with regular quarterly adjustments and temporary updates in response to market conditions.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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View original content:https://www.prnewswire.co.uk/news-releases/bingx-introduces-altcoin-index-futures-trading-one-click-countless-trends-302339486.html
SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.
The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.
Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).
Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”
Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.
Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”
With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.
Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.
About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.
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View original content:https://www.prnewswire.co.uk/news-releases/nodepay-raises-7m-total-funding-to-power-ai-growth-with-real-time-data-infrastructure-302339478.html
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