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Capital is king as miners respond to energy transition

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  • 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.

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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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BTY Welcomes Jack McInerney to Ownership Group

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DUBLIN, Oct. 9, 2024 /PRNewswire/ — BTY is proud to announce that Jack McInerney, Managing Director responsible for Infrastructure Advisory globally and BTY’s Europe expansion, has joined the firm’s ownership group. This recognition highlights his exceptional leadership in driving BTY’s growth across North America and Europe over the past decade.

Under McInerney’s leadership, BTY has continued to evolve as one of the top-ranked advisory firms, delivering an extensive portfolio of over $100 billion in project investments across more than 200 deals in various sectors, including social infrastructure, renewables and clean energy, transportation, aviation, mobility, environment, and data and digital connectivity.

“Our success is rooted in fostering high-performing, integrated teams built on empowered and growth-oriented succession and mentorship,” said Jack McInerney. “We ensure clients benefit from the depth and breadth of BTY’s industry relationships, and the wealth of expertise across project, finance, and construction disciplines that we consistently deliver.”

McInerney has been instrumental in opening new sectors for BTY, establishing the firm’s reputation as a trusted advisor on complex, first-of-their-kind projects. These include landmark deals such as the Ontario Line RSSOM and Southern Civil Stations and Tunnel projects in Canada, LaGuardia Airport Terminal B and the I-4 Ultimate in the U.S., and the Higher Education Bundle 1 and Project Opus in Europe—one of the region’s largest transactions, involving the Dublin Convention Centre, and major telecom and healthcare assets across Ireland.

Toby Mallinder, BTY’s Managing Director, recognized McInerney’s accomplishments saying, “Jack exemplifies how we cultivate talent and maximize the value our approach delivers to clients in capital markets and asset management. His efforts have significantly propelled BTY’s growth by assembling a top-tier team with a unique, client-focused approach that spans every sector and delivery model in the global infrastructure landscape.”

Having joined BTY in 2011 and originally based in Vancouver, McInerney was appointed to spearhead the firm’s entry into linear infrastructure, with a particular focus on transportation assets and transit systems. McInerney and the team used this approach to rapidly expand BTY’s infrastructure client base across North America, and more recently, in Europe, where Dublin has become the firm’s launchpad for expansion in the region.

“This is an exciting new chapter for BTY,” added McInerney. “We look forward to sharing our new strategic direction with clients and industry partners, particularly our rapidly growing capabilities in the U.S., as well as renewables and energy, decarbonization, connectivity, operational services, and more.”

About BTY
BTY is an award-winning professional consultancy offering complete project solutions in real estate and infrastructure asset planning, development, operations, and transactions. Founded in Western Canada in 1978, the firm now has offices across Canada, the United States, Ireland, the United Kingdom, and Turkey, with a diverse global portfolio. BTY’s core services encompass Cost Management, Project Monitoring & Lender Services, Infrastructure Advisory, and Project Management. To learn more, visit BTY.COM.

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Miami International Holdings Participates in the 2024 Ring the Bell for Financial Literacy Initiative during World Investor Week

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PRINCETON, N.J., Oct. 9, 2024 /PRNewswire/ — Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes, today ceremoniously rang the opening bell at its Princeton, N.J. headquarters in honor of the World Federation of Exchanges’ (WFE) Ring the Bell for Financial Literacy initiative.

“The importance of financial literacy to support an equitable future for all global investors cannot be overstated and we are pleased to once again participate in this year’s Ring the Bell for Financial Literacy initiative,” said Thomas P. Gallagher, Chairman and CEO of MIH. “MIH enthusiastically supports educational initiatives that help pave the way for future investors and we actively partner with schools in our community to empower students with knowledge to help maximize their future financial success.”

The Ring the Bell for Financial Literacy ceremony supports the International Organization of Securities Commissions’ (IOSCO) World Investor Week (WIW) 2024, a global campaign to raise awareness about the importance of investor education and protection. This marks the fifth consecutive year that IOSCO and the WFE are working in partnership on the Ring the Bell for Financial Literacy initiative. 

Mr. Gallagher added, “In furthering our financial literacy efforts, MIH proudly sponsors the John Lothian News Futures Discovery video series that provides a unique, peer-led learning experience for young investors to learn about futures markets from students at Roosevelt University in Chicago.” 

Additional details and information on the IOSCO WIW 2024 campaign is available at https://www.worldinvestorweek.org. Information on the WFE’s Ring the Bell for Financial Literacy 2024 campaign is available at https://www.world-exchanges.org/ring-bell-financial-literacy-2024.

About MIAX
MIAX’s parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire LLC (MIAX SapphireTM), MIAX Futures Exchange, LLC (MIAX FuturesTM), LedgerX LLC d/b/a MIAX Derivatives Exchange (MIAXdxTM), The Bermuda Stock Exchange (BSX) and Dorman Trading, LLC (Dorman Trading).

MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX’s in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. The MIAX trading platform was built to meet the high-performance quoting demands of the U.S. options trading industry and is differentiated by throughput, latency, reliability and wire-order determinism. MIAX also serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).

MIAX Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and offers trading in a variety of products including Hard Red Spring Wheat Futures. MIAX Futures is a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM and DCO services in an array of asset classes.

MIAXdx is a CFTC regulated exchange and clearinghouse and is registered as a Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Swap Execution Facility (SEF) with the CFTC.

BSX is a fully electronic, vertically integrated international securities market headquartered in Bermuda and organized in 1971. BSX specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants, and insurance linked securities.

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Dorman Trading is a full-service Futures Commission Merchant registered with the CFTC.

MIAX’s executive offices and National Operations Center are located in Princeton, N.J., with additional U.S. offices located in Chicago, IL and Miami, FL. MIAX Futures offices are located in Minneapolis, MN. MIAXdx offices are located in Princeton, N.J. BSX offices are located in Hamilton, Bermuda. Dorman Trading offices are located in Chicago, IL.

To learn more about MIAX visit www.miaxglobal.com.

To learn more about MIAX Futures visit www.miaxglobal.com/miax-futures.

To learn more about MIAXdx visit www.miaxdx.com.

To learn more about BSX visit www.bsx.com.

To learn more about Dorman Trading visit www.dormantrading.com.

Disclaimer and Cautionary Note Regarding Forward-Looking Statements
The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

All third-party trademarks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company. Any references by the Company to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.

Media Contact:
Andy Nybo, SVP, Chief Communications Officer
(609) 955-2091
[email protected]

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Newmark Group’s Third Quarter 2024 Financial Results Announcement to be Issued Prior to Market Open on Tuesday, November 5, 2024

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Conference call scheduled for the same day at 10:00 a.m. ET

NEW YORK, Oct. 9, 2024  /PRNewswire/ — Newmark Group, Inc. (Nasdaq: NMRK) (“Newmark” or “the Company”), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, today announced the details of its third quarter 2024 financial results press release and conference call. The Company plans to issue an advisory press release regarding the availability of its consolidated quarterly financial results at 8:00 a.m. ET on Tuesday, November 5, 2024. Newmark’s advisory release will notify the public that a full-text financial results press release will be accessible at the following pages:

http://ir.nmrk.com (PDF version of the full press release, PDF of a quarterly results investor presentation, link to the webcast, and supplemental Excel financial tables)

https://www.nmrk.com/media (PDF version of the full press release only)

Newmark will host a conference call on Tuesday, November 5, 2024, at 10:00 a.m. ET to discuss its results.

WHO:                  Newmark Group, Inc. (Nasdaq: NMRK)
WHAT:                Third Quarter 2024 financial results conference call
WHEN:                Tuesday, November 5, 2024, at 10:00 a.m. ET
WHERE:              https://event.webcasts.com/starthere.jsp?ei=1692463&tp_key=fa28476e56

For those who are unable to join the webcast, the Company expects to post dial-in information before the day of the call on the event’s page at http://ir.nmrk.com

Webcast Replay

Expected Available From – To:

                   11/05/2024 at 1:00 p.m. ET – 11/05/2025 at 11:59 p.m. ET

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Replay Link:

https://event.webcasts.com/starthere.jsp?ei=1692463&tp_key=fa28476e56

Note: If clicking the above links does not open a new webpage, you may need to cut and paste the URLs into your browser’s address bar.

ABOUT NEWMARK
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

DISCUSSION OF FORWARD-LOOKING STATEMENTS ABOUT NEWMARK
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company’s business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.

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