Technology

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

Published

6 months ago

July 18, 2024

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

View original content:https://www.prnewswire.com/news-releases/united-states-ranks-next-to-last-in-development-time-for-new-mines-that-produce-critical-minerals-for-energy-transition-sp-global-finds-302199858.html

SOURCE S&P Global

Technology

KNEX Technology CTO Gustavo Gonzalez Elected 2025 President-Elect of OATUG

Published

2 hours ago

January 11, 2025

Gustavo Gonzalez, KNEX Technology’s CTO, has been elected 2025 President-Elect of OATUG, emphasizing his dedication to Oracle innovation, collaboration, and leadership, including Ascend 2025’s strategic initiatives.

IRVINE, Calif., Jan. 10, 2025 /PRNewswire-PRWeb/ — KNEX Technology, a leading Oracle Cloud solutions provider, is proud to announce that its Chief Technology Officer, Gustavo Gonzalez, has been elected as the 2025 President-Elect of the Oracle Applications & Technology Users Group (OATUG). This esteemed appointment highlights Gonzalez’s longstanding commitment to advancing innovation and collaboration within the Oracle community.

OATUG has played a pivotal role in my professional growth, and it is a privilege to contribute to this community which has enriched my career. As President-Elect, I look forward to collaborating with my peers to strengthen the Oracle user community and further its impact on businesses worldwide.

In his new role, Gonzalez will work closely with the OATUG leadership team throughout 2025, preparing to serve as OATUG President in 2026. He will focus on empowering Oracle professionals worldwide by fostering knowledge-sharing, community engagement, and professional development. OATUG, a globally recognized organization, supports its members in overcoming challenges, enhancing the value of Oracle solutions, and driving organizational success.

“OATUG has played a pivotal role in my professional growth, and it is a privilege to contribute to this community which has enriched my career,” said Gustavo Gonzalez. “As President-Elect, I look forward to collaborating with my peers to strengthen the Oracle user community and further its impact on businesses worldwide.”

Gonzalez’s election underscores his dedication to giving back to the Oracle ecosystem. A key focus of his role will include shaping OATUG’s strategic initiatives, such as the annual Ascend Conference, which unites Oracle users, thought leaders, and technology innovators for unparalleled learning and networking opportunities.

The upcoming Ascend 2025 Conference, scheduled for June 8–11 in Orlando, Florida, promises to build on the success of the 2024 event, which attracted more than 1,800 attendees. With early bird registration now open, Gonzalez aims to ensure the conference continues to deliver transformative insights and experiences for the Oracle community.

About OATUG

The Oracle Applications & Technology Users Group (OATUG) is the premier global organization for Oracle users, providing year-round education, networking, and advocacy. OATUG empowers its members to unlock the full potential of Oracle solutions, fostering innovation and collaboration across industries.

About KNEX Technology

KNEX Technology is a trusted leader in Oracle Cloud solutions, delivering cutting-edge products and services to help businesses achieve their objectives. Through its innovative approach and customer-focused strategies, KNEX enables organizations to navigate the complexities of today’s technology landscape. For more information, visit www.knextech.com.

Media Contact

Husna Gyasi, KNEX Technology, 1 (949) 232-0786, husna.ghayaisi@knextech.com, https://knextech.com/

Twitter, LinkedIn

View original content:https://www.prweb.com/releases/knex-technology-cto-gustavo-gonzalez-elected-2025-president-elect-of-oatug-302347693.html

SOURCE KNEX Technology

Technology

Dr. Gerard van Belle Appointed Director of Science at Lowell Observatory, Charting a Bold Future for Research

Published

3 hours ago

January 11, 2025

Dr. van Belle to guide scientific exploration and foster innovation in the next era of astronomical research

FLAGSTAFF, Ariz., Jan. 10, 2025 /PRNewswire/ — Lowell Observatory is pleased to announce the appointment of Dr. Gerard van Belle as the new Director of Science. Van Belle, who has been an astronomer at the observatory since 2011, has been serving as the interim Director of Science.

In his new role, van Belle will lead a diverse team of astronomers and planetary scientists. He will spearhead the observatory’s new Science Vision, which focuses on advancing research capabilities and implementing cutting-edge technological improvements supporting Lowell’s leadership in astronomical research.

Under his leadership, the science department will continue to advance Lowell Observatory’s mission to pursue the study of astronomy, including the study of our solar system and its evolution, and to conduct pure research in astrophysical phenomena.

Van Belle’s own research focuses on fundamental stellar parameters, including the sizes, shapes, masses, distances, and temperatures of various types of stars. He is also renowned for his expertise in optical and near-infrared astronomical interferometry.

He earned his bachelor’s degree in physics from Whitman College in 1990, followed by a master’s degree from The Johns Hopkins University in 1993, and a Ph.D. in physics from the University of Wyoming in 1996.

Throughout his career, van Belle has been instrumental in the development and commissioning of major optical interferometers worldwide, including the Palomar Testbed Interferometer, the Keck Interferometer, and the Very Large Telescope Interferometer. His pioneering work in stellar surface imaging earned him the inaugural Edward Stone Award for Outstanding Research Publication at NASA’s Jet Propulsion Laboratory in 2002.

In 2011, van Belle joined Lowell Observatory’s science staff, where he applied high-resolution astronomical techniques to detect nearby exoplanets and map stellar surfaces. He served as the Director of the Navy Precision Optical Interferometer (NPOI) in Flagstaff, Arizona, from 2017 to 2018, and subsequently as its Chief Scientist until 2022.

Notably, van Belle was among the astronomers who voted against the definition of ‘planet’ advanced during the 2006 International Astronomical Union (IAU) conference in Prague, which relegated Pluto to being a ‘dwarf planet’ (which according to the IAU resolution is not a planet).

His extensive experience and dedication to advancing astronomical research make him a valuable leader for Lowell Observatory’s scientific endeavors.

“I am honored to take on this role at such a pivotal time for Lowell Observatory,” said van Belle. “Our Science Vision will guide us in exploring new frontiers in astronomy while strengthening our commitment to public engagement and education.”

Executive Director Dr. Amanda Bosh expressed her confidence in van Belle’s leadership: “Gerard’s extensive experience and dedication to our mission make him the ideal person to lead our scientific endeavors. I look forward to working closely with him as we embark on this exciting new chapter for Lowell Observatory.”

For more information about Lowell Observatory’s research and public programs, visit lowell.edu.

About Lowell Observatory
Founded in 1894, Lowell Observatory in Flagstaff, Arizona, is a renowned nonprofit research institution. It is the site of historic and groundbreaking discoveries, including the first evidence of the expanding universe and the discovery of Pluto. Today, Lowell’s astronomers utilize global ground-based and space telescopes, along with NASA spacecraft, for diverse astronomical and planetary science research. The observatory hosts more than 100,000 visitors annually for educational tours, presentations, and telescope viewing through a suite of world-class public telescopes.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dr-gerard-van-belle-appointed-director-of-science-at-lowell-observatory-charting-a-bold-future-for-research-302348440.html

SOURCE Lowell Observatory

Technology

ALTICE USA IS ABANDONING LOCAL SPORTS FANS AND IS KEEPING MSG NETWORKS AND ITS KNICKS, RANGERS, ISLANDERS AND DEVILS COVERAGE OFF THE AIR

Published

4 hours ago

January 10, 2025

NEW YORK, Jan. 10, 2025 /PRNewswire/ — MSG Networks released the following statement about their dispute with Altice USA:

“Altice USA has pulled their last proposal and walked away from negotiations to bring MSG Networks back to its Optimum subscribers. They also just dropped WPIX Channel 11 in New York and other local stations around the country. If you have been waiting, like we have, for them to do right by their customers – don’t wait any longer. Now is the time to switch to Verizon Fios who has a special offer for Optimum subscribers. Meanwhile, Optimum has been charging their over 1 million customers for local sports programming they have not been receiving and EVERY subscriber should be credited at least $10 a month.

Verizon Fios is ready to take your business. If you are not in Verizon Fios area, you can get games through these other providers DirecTV, DirecTV Stream, Fubo and The Gotham Sports App. For more options on how to switch providers, visit www.keepMSG.com.”

About MSG Networks

MSG Networks, a pioneer in sports media, owns and operates two award-winning regional sports and entertainment networks (MSG and MSG Sportsnet) and MSG+, a direct-to-consumer and authenticated streaming offering (included in the Gotham Sports App), that serve the nation’s number one media market, the New York DMA, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania. The networks feature a wide range of compelling sports content, including exclusive live local games and other programming of the New York Knicks, New York Rangers, New York Islanders, New Jersey Devils and Buffalo Sabres, as well as significant coverage of the New York Giants and Buffalo Bills. This content, in addition to a diverse array of other sporting events and critically acclaimed original programming, has established MSG Networks as the gold standard in regional sports. MSG Networks is part of the Sphere Entertainment Co. (NYSE: SPHR).

Contact:

Dan Schoenberg (dan.schoenberg@msg.com)

View original content to download multimedia:https://www.prnewswire.com/news-releases/altice-usa-is-abandoning-local-sports-fans-and-is-keeping-msg-networks-and-its-knicks-rangers-islanders-and-devils-coverage-off-the-air-302348428.html

SOURCE Sphere Entertainment Co.