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United States Ranks Next to Last in Development Time for New Mines that Produce Critical Minerals for Energy Transition, S&P Global Finds

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Development of a new U.S. mine—from discovery to production—takes nearly 29 years, on average

NEW YORK, July 18, 2024 /PRNewswire/ — The United States has the second longest lead times in the world for developing a new mine for the critical minerals that are vital to the energy transition, according to new report by S&P Global.* The report, Mine Development Times: The U.S. in Perspective found that it takes an average of 29 years for such mines to go from discovery to production in the United States, longer than any other country except Zambia (34 years).

The long U.S. lead times stand in contrast to the country’s sizeable resource base. The U.S. copper endowment (more than 275 million metric tons in reserves and resources) is comparable to those of Canada and Australia combined and sufficient to satisfy domestic demand for the foreseeable future. The United States’ endowment of lithium (more than 43 million tons in reserves and resources) is more than twice that of Australia, which currently accounts for half of the world’s lithium production. 

“This new analysis underscores a fundamental challenge for the energy transition,” said Daniel Yergin, Vice Chairman, S&P Global. “Building the new infrastructure and adopting new technologies in the pursuit of Net-zero 2050 goals will greatly depend on reconciling surging demand with long lead times and other challenges presently encountered in scaling up supply of critical materials.”

The report also shows that the United States receives strikingly less in mining exploration budgets relative to its advanced economy peers. Such investment has been 57% higher in Australia and 81% higher in Canada over the past 15 years. While Canada’s average lead time (27 years) was found to be only slightly better than the United States, greater certainty that a Canadian project will ultimately reach production may partly explain why it attracts significantly higher investment.

The report draws on the combined expertise of S&P Global’s Commodity Insights and Market Intelligence divisions, utilizing the proprietary Global Metals and Mining database. It is the latest addition to a body of research focused on the supply and demand for metals and critical minerals that are fundamental to the energy transition. Previous S&P Global studies found that global copper demand would have to nearly double over the next decade in order to deploy the technologies critical to achieving net-zero by 2050 goals and that U.S. energy transition-related demand for lithium, nickel and cobalt will be 23 times higher in 2035 than it was in 2021.

The new report examines 268 mines around the world to determine average development times from discovery to production. Most of these mines are operating. However, some are non-operating: they are still in development and not yet productive. For these non-operating mines, the report assumes a start-up date of 2030. This (optimistic) assumption provides some consistent basis on which to capture non-operating mines.

Capturing these non-operating mines provides a truer assessment of development times, the report says. Only three mines have come into production in the United States since 2002, while 10 additional non-operating projects have remained in development for decades—one having been in development since 1978.

“This latest research further illustrates that the United States has a vast reserve of critical minerals,” said Mohsen Bonakdarpour, Executive Director, S&P Global Market Intelligence. “Pre-production value of the 10 U.S. mines still in development, though not yet operating, represent a value of more than USD 100 billion worth of copper, gold, lithium and zinc.”

For more information on additional S&P Global studies, please visit Inflation Reduction Act: Impact on North America Metals and Minerals Market and The Future of Copper: Will the Looming Supply Gap Short-circuit the Energy Transition?

*The study included mines for cobalt, copper, gold, lithium, nickel, palladium, platinum, vanadium and zinc

About the Study:

Mine Development Times: The U.S. in Perspective is available at https://cdn.ihsmarkit.com/www/pdf/0724/SPGlobal_NMA_DevelopmentTimesUSinPerspective_June_2024.pdf

This study offers an independent and objective assessment of the time taken from first discovery to first production for mines. Its focus is the U.S. which is compared with peers Canada and Australia. It aims to provide a full perspective of development times by considering both mines that have come online and those still in development.

The study was supported by the National Mining Association of the US (NMA). The Association did not provide data or substantive input to the report. S&P Global is solely responsible for the analysis and conclusions in the report.

About S&P Global

S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges, and accelerate progress for the world.

We are widely sought after by many of the world’s leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world’s leading organizations plan for tomorrow, today. For more information, visit www.spglobal.com

Media Contacts:
Jeff Marn
S&P Global Commodity Insights
+1 202 463 8213
jeff.marn@spglobal.com 

Kate Smith
S&P Global Market Intelligence
+1 781 301 9311
katherine.smith@spglobal.com or press.mi@spglobal.com 

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SOURCE S&P Global

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Rad Power Bikes Expands Its Omnichannel Retail Experience to Include BestBuy.com and Select Best Buy Stores

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Additional physical and digital channels provide Rad Power Bikes customers more ways to interact with the brand and access Rad’s latest ebike models.

SEATTLE, Sept. 25, 2024 /PRNewswire/ — Rad Power Bikes™ today announced its teaming up with Best Buy to increase the brand’s retail presence to include 150 Best Buy stores nationwide and BestBuy.com. After several product launches, this availability enhances the seamless integration of Rad’s retail channels, enriching the customer journey from online to in-store. This expansion of Rad’s omnichannel experience underscores the company’s dedication to creating a world where transportation is not only energy-efficient and accessible but also enjoyable for everyone, no matter where they shop or how they engage with the brand.

Rad Power Bikes Expands Its Omnichannel Retail Experience to Include BestBuy.com and Select Best Buy Stores

As Rad continues to redefine sustainable transportation, the expansion to Best Buy will provide more customers with direct access to Rad’s industry-leading products in physical retail locations and online. Starting today, customers can purchase some of our rider’s favorite Rad products and accessories at BestBuy.com, and next month in 150 Best Buy stores nationwide.

“Rad Power Bikes is strategically positioning itself for sustained growth by focusing on safety, reliability, and customer accessibility,” said Phil Molyneux, CEO of Rad Power Bikes. “Our commitment to strengthening our product offerings and broadening our retail experiences for customers ensures more people can experience the benefits of ebikes. As we continue to innovate and grow beyond our direct-to-consumer roots, we remain dedicated to maintaining the highest standards of safety, quality, and customer satisfaction, which have been key in building our strong reputation with customers and retailers large and small.”

Rad is also expanding its retail partner program and is pleased to announce the appointment of industry veteran George Lee as Director of Sales. This key addition will further strengthen and grow the company’s retail partnerships, enhancing the overall customer experience and accelerating growth.

Rad Power Bikes is also planning exciting Black Friday deals on its versatile ebikes to offer even more customers the opportunity to experience the freedom and convenience of Rad Power Bikes at a great value.

Rad Power Bikes offers test rides and in-store support at its RadRetail locations, ensuring that customers can find the right ebike for their needs, whether commuting, adventuring, delivery, or hauling kids. For more information on how Rad Power Bikes is making ebikes more accessible, and to locate a store near you, visit here.

About Rad Power Bikes
Rad Power Bikes boasts a full lineup of affordable ebikes and accessories that are changing the way people and products ride for good. Founded in 2007, Rad’s team of passionate ebike enthusiasts creates products and service solutions that are purpose-built for everything, whether for commuting, adventuring, delivery, or hauling kids. The ebikes and accessories are all designed in-house at its Seattle headquarters. The company serves riders across the U.S. and Canada, and has nine RadRetail locations, and more than 1,200 retail and service partners across North America.Recognized by TIME, Fast Company, and Inc. as one of the most innovative and influential companies, Rad Power Bikes is on a mission to build a world where transportation is energy-efficient, enjoyable, and accessible to all.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rad-power-bikes-expands-its-omnichannel-retail-experience-to-include-bestbuycom-and-select-best-buy-stores-302257957.html

SOURCE Rad Power Bikes

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Admitad’s new generation promo code solution boosts conversion for affiliates by 40%

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DUBAI, UAE, Sept. 25, 2024 /PRNewswire/ — Admitad, a global leader in partner marketing, launches New Generation Promo codes — a turnkey solution that offers a hassle-free way to attribute sales directly to affiliates through promo codes. Publishers receive full credit for every sale generated, regardless of how or where the transaction occurs. Brands enjoy increased tracking transparency and accuracy, wider reach and boosted sales. The loyalty of publishers to advertisers is also growing due to increased profits at the same traffic volumes.

By assigning a dedicated code to each affiliate, the solution ensures personalised promotions that increase the relevance and impact of marketing campaigns, while for publishers it guarantees no risk of promo code theft or cookie stuffing. Through access to a broader network, including social media influencers and content creators, businesses can expand their reach, diversify traffic sources, and unlock new audience segments.

Solution embraces the CPS model, guaranteeing that businesses only pay for completed sales. This makes marketing spend more predictable, enabling companies to optimise their ROI. Promo codes are automatically withdrawn from publishers failing to generate sales within a specified timeline and are then reallocated to those who consistently deliver results.

Promo code tracking also solves the problem of cross-device order attribution, including tracking on mobile devices and within mobile applications. Admitad’s solution is able to bypass other tracking obstacles as well. It works seamlessly even if ad blockers, privacy settings and other extensions interfere with traditional cookie tracking.

Affiliates using New Generation Promo codes alongside their affiliate links have experienced a significant spike in conversions. Admitad compared the number of actions and growth rate of partners who previously worked only with affiliate links. Calculations showed consistent 30-40% growth in the number of actions and sales after just 3 months of promo code usage.

More conversions translate directly into increased commissions and revenue growth. By offering discounts or special offers, they incentivize consumers to make purchases that might not have otherwise been considered. It also offers publishers a powerful tool to foster deeper customer engagement.

Publishers and brands can access New Generation Promo codes through the Promo code Catalog in the Admitad Store. These codes are recommended to be used alongside the affiliate links, offering a powerful combination that ensures the best possible tracking and maximizes the conversion potential.

Logo – https://mma.prnewswire.com/media/2433196/4750415/Admitad_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/admitads-new-generation-promo-code-solution-boosts-conversion-for-affiliates-by-40-302258872.html

SOURCE Admitad

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Swan Bitcoin Has Achieved SOC2 Type 1 Compliance

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The independent audit and certification affirms that Swan’s platform, infrastructure, tools, and processes meet industry best practices to protect sensitive client information. 

CALABASAS, Calif., Sept. 25, 2024 /PRNewswire/ — Swan Bitcoin is proud to announce that it has successfully achieved SOC 2 Type 1 compliance, marking a significant milestone in its dedication to ensuring the highest standards of security, availability, and confidentiality for its customers. This certification, awarded by Schellman, a high-ranking IT compliance attestation firm, details the suitability of design and operating effectiveness of controls relevant to security, availability, and confidentiality to protect sensitive data.

“Every day, we handle mission-critical information,” said Yan Pritzker, Swan CTO. “This requires Swan to implement thorough security and risk controls across our whole domain, including network security, systems availability, and data confidentiality. With a SOC2-compliant environment, we are assuring our customers and partners that we can meet their stringent compliance requirements.”

SOC 2 reports are performed in accordance with the Statement on Standards for Attestation Engagements 18 (SSAE 18) attestation standard issued by the American Institute of Certified Public Accountants (AICPA). Achieving SOC 2 Type 1 certification demonstrates that Swan meets industry best practices to assure clients that their data is being handled with the utmost care and protection.

“At Swan, security is a top priority,” said Scott Kisser, Swan CISO. “Achieving SOC 2 compliance underscores our commitment to building trust by adhering to industry-leading security practices. This independent verification is another step in our continued journey to provide the most secure and trusted Bitcoin platform for our clients.”

SOC 2 compliance brings critical benefits such as reduced risk, enhanced client trust, and the confidence that Swan Bitcoin is continuously improving its security posture. The completion of Swan’s SOC 2 Type 1 report is the result of an independent audit conducted to ensure the proper design and effectiveness of a variety of controls. For more information, please visit trust.swanbitcoin.com.

About Swan

Swan is a leading Bitcoin financial services company with more than 130,000 clients. Established in 2019, Swan helps individuals and institutions to understand and invest in Bitcoin. The Swan app simplifies Bitcoin purchases with instant and recurring buys. Swan IRA provides a tax-advantaged solution for saving Bitcoin in retirement accounts. For HNWIs and businesses, Swan Private provides white-glove service for large purchases, treasury solutions, and inheritance planning. With Swan Vault, clients can easily custody their own Bitcoin with peace of mind. Swan Managed Mining provides clients with fully segregated and dedicated mining operations, catering to their unique requirements, opportunities, and strategic advantages. Swan prides itself on exceptional client service, making Bitcoin approachable to all. For more information, please visit swan.com.

View original content:https://www.prnewswire.com/news-releases/swan-bitcoin-has-achieved-soc2-type-1-compliance-302257789.html

SOURCE Swan Bitcoin

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