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

2 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

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SOURCE S&P Global

Technology

Media Matters Worldwide Becomes AXM and Merges Tech with Humanity

Published

56 mins ago

September 25, 2024

SAN FRANCISCO, Sept. 25, 2024 /PRNewswire/ — Media Matters Worldwide, a pioneer in agile and data-driven media solutions, is excited to announce its rebranding to AXM (Ars x Machina). This transformation signifies the company’s commitment to architecting meaningful media solutions at the intersection of human ingenuity and cutting-edge technology.

Founded by Taji Zaminasli and Josy Amann, AXM has consistently been at the forefront of innovation, driving business growth for its clients through a blend of advanced technology and human-centered strategies. The rebrand marks a significant milestone in the agency’s evolution, aligning its identity more closely with its mission to transform businesses with human-led innovation.

“Rebranding to AXM represents our evolution and a deeper alignment with our core mission,” said Josy Amann, Co-Founder of AXM. “As we continue to innovate, our focus remains on creating media strategies that leverage the most advanced technologies and resonate on a human level. AXM is about pushing boundaries and delivering results while staying true to the values that have always defined us—ingenuity, passion, and a relentless pursuit of excellence.”

Introducing Agile Mix Modeling™: A Game-Changer in Media Measurement

At the heart of AXM’s innovative offerings is its proprietary Agile Mix Modeling™ (AMM), a revolutionary approach to marketing mix modeling. In response to the challenges posed by walled gardens, third-party cookie deprecation, and the evolving advertising landscape, AXM developed AMM to provide clients with an agile and holistic view of campaign performance across all channels.

AMM stands apart from traditional models by automating real-time data collection, leveraging machine learning for model training, and employing Bayesian methods for more accurate attribution and forecasting. This approach allows for frequent model refreshes, enabling in-flight optimization and delivering incrementality and superior Return on Ad Spend (ROAS) for clients.

Results for clients have included 37% incrementality and increased ROAS after implementing AMM, with newfound insights into high-performing channels like local radio and streaming music while reallocating investments from underperforming channels.

“AXM is not just a name change; it’s a statement of our ethos,” said Taji Zaminasli, Co-Founder of AXM. “We are committed to creating media solutions that harness the best technology while keeping people at the center. Our new identity reflects our dedication to delivering future-forward yet deeply human experiences.”

The AXM Identity: A Fusion of Art and Technology

AXM’s new brand identity embodies its core values through distinct visual and verbal language. The primary logomark, known as “The Multiplier,” symbolizes the convergence of technology and humanity, with the bold “X” standing as a testament to visionary leadership. The brand’s tone is a balance of maverick yet warm, futuristic yet people-first, and playful yet masterful, ensuring that every communication reflects AXM’s unique blend of expertise and human touch.

“AXM is not your typical media agency,” Taji Zaminasli, Co-Founder and Managing Partner. “We’re here to break the mold, offering our clients tailored, tech-driven solutions powered by a team of passionate experts.” “By embracing the latest tech and AI, we engineer cutting-edge solutions that push the boundaries of the ever-changing media world”.

The rebranding initiative extends across all aspects of the company, including a refreshed website, updated marketing materials, and a continued commitment to delivering innovative media solutions that drive real business impact.

The media revolution is here. For more information about AXM and its suite of services, please visit WeAreAXM.com

About AXM
AXM, formerly known as Media Matters Worldwide, is a premier San Francisco-based media agency with a reputation for pioneering innovative and intelligent media strategies. Specializing in meaningful media at the intersection of human ingenuity and advanced technology, AXM is at the forefront of driving business growth through data-driven solutions that resonate on a human level.

Founded by a visionary female-led team, AXM has consistently broken new ground in the media industry, earning accolades for its creativity, strategic excellence, and results-driven approach. The agency has been recognized with numerous industry awards, including being an Ad Age Small Media Agency of the Year twice and a Campaign Magazine Agency of the Year finalist, underscoring its commitment to excellence and innovation.

View original content to download multimedia:https://www.prnewswire.com/news-releases/media-matters-worldwide-becomes-axm-and-merges-tech-with-humanity-302259017.html

SOURCE Media Matters Worldwide

Technology

Mediwhale Secures $12 Million in Series A2 Funding to Drive Global Leadership in Cardiovascular and Metabolic Disease Management

Published

56 mins ago

September 25, 2024

SEOUL, South Korea, Sept. 25, 2024 /PRNewswire/ — Mediwhale, the AI-powered health diagnostics company, announced $12 million series A2 investments. This funding leverages the momentum of their technological advancements and rapid adoption of its innovative biomarker for preventing cardiovascular disease in general hospitals and clinics.

The financing round was led by Korea Development Bank (KDB), with participation from Woori Venture Partners, IMM Investment, Mirae Asset Securities, and other investors. This investment involves both the issuance of new shares and secondary sales.

Mediwhale initially raised $2 million in Series Pre-A funding in 2021, followed by $9 million in Series A funding in 2023. The recent Series A2 investment of $12million further strengthens the company’s growth trajectory.

Mediwhale is setting a new standard of care for the early prevention of cardiovascular disease using AI-powered retina scans. The company’s flagship product, Reti-CVD, is an AI diagnostic solution that autonomously assesses future cardiovascular disease risk using an eye scan. It is a simple, radiation-free test that provides highly accurate results equivalent to the coronary artery calcium score derived from a cardiac CT scan in predicting cardiovascular risk. Since June 2023, Reti-CVD has been approved for private reimbursement in Korea and has been utilized in over 7,200 cases across 57 medical institutions as of August 2024.

With this new capital, Mediwhale will continue to enhance AI algorithms, achieve U.S. FDA approval for Reti-CVD, expand its global footprint, and develop new products to predict chronic kidney disease risk.

“Mediwhale is the first company in the world to develop and commercialize medical AI that can predict cardiovascular disease risk through a simple eye exam. The company demonstrates significant differentiation in both business performance and technological innovation. We have decided to invest actively, confident that Mediwhale will make history in AI-driven prediction of cardiovascular and metabolic diseases both domestically and globally,” said Korea Development Bank.

Kevin Choi, CEO of Mediwhale, added, “I believe that our successful fundraising, even in a frozen capital market, is largely due to our excellent technology. With our pioneering technology, developed and commercialized as a world first, we aim to lead the global market in cardiovascular and metabolic disease management. We are determined to secure FDA De Novo approval by 2025, with plans to launch our product in the United States shortly thereafter. Additionally, to maintain a competitive edge, we will significantly enhance our AI performance and expand our product pipeline to include chronic kidney disease prediction.”

About Mediwhale

Mediwhale is the AI-powered health diagnostics company that uses non-invasive retina scans to help prevent heart and kidney diseases. Mediwhale’s solution uses deep learning algorithms to detect future disease risks even before symptoms appear. Mediwhale has been dedicated to making preventative care more affordable, accessible, safe, and convenient since being founded in 2016 in South Korea.

View original content to download multimedia:https://www.prnewswire.com/news-releases/mediwhale-secures-12-million-in-series-a2-funding-to-drive-global-leadership-in-cardiovascular-and-metabolic-disease-management-302256612.html

SOURCE Mediwhale

Technology

ECHL and GameAbove Entertainment Partner on “ECHL Unfiltered” Docuseries

Published

56 mins ago

September 25, 2024

Set to premiere Sunday, September 29 on NHL Network

SHREWSBURY, N.J., Sept. 25, 2024 /PRNewswire/ — The ECHL and GameAbove Entertainment today announced the upcoming release of ECHL Unfiltered, a new sports docuseries that focuses on the developmental league for both the National Hockey League (NHL) and American Hockey League (AHL). The first season will feature the Idaho Steelheads and premiere on Sunday, September 29, 10:00 PM ET on the NHL Network (NHLN).

“Capturing the drive to advance to the next level for our players, coaches, and officials and showcasing their talents is what our League’s development is all about,” said ECHL Commissioner Ryan Crelin. “The opportunities to capture the drama and excitement as this process unfolds are riveting and will highlight the ECHL’s role in professional hockey’s development in North America and the unique markets we serve.”

Directed and executive produced by Tyler Nimmons, ECHL Unfiltered will follow a team’s behind-the-scenes journey throughout a season, providing exclusive and unfiltered access to the raw reality of players, coaches, and communities that make up this dynamic league. The Idaho Steelheads, two-time Kelly Cup Champions, and affiliates of the NHL Dallas Stars, take the spotlight in the inaugural season of ECHL Unfiltered.

The narrative highlights a range of players, including experienced veterans competing for one last chance at success, and young aspiring rookies dreaming of reaching the NHL. It also covers the league’s significant growth and explores the factors contributing to its expansion. The first season consists of five 30-minute episodes.

Hockey enthusiasts and sports fans can relish the dynamic and thrilling world of one of the most compelling minor professional hockey leagues through NHLN.

ECHL Unfiltered NHLN Schedule (all times Eastern Time zone):

Episodes 1 and 2: Sunday, Sep. 29, 10 PM-11 PMEpisodes 3 through 5: Sunday, Oct. 6, 8 PM-9:30 PM

“It has been an incredible experience working on this project throughout the season,” said Nimmons. “With how the season ended in the summer of 2023 for the Steelheads, we wanted to capture this pursuit of redemption. There’s also the tale of what minor league hockey and the ECHL are about. The grit, toughness, the organizations, communities, the people, it’s all there.”

The ECHL has been steadily expanding since 1988 and has twenty-nine active teams, with five new expansion teams added since 2020. The league’s commitment to community involvement and exciting gameplay has developed a loyal fan base. The ECHL’s growing popularity is also due to increased media coverage, celebrity investors, online streaming services, and social media promotion.

For the latest news, updates, and developments, visit GameAbove Entertainment at www.GameAboveEntertainment.com.

About the ECHL
Formed in 1988-89 with five teams in four states, the ECHL has grown into a coast-to-coast league with 29 teams in 22 states and one Canadian province for its 37th season in 2024-25. There have been 752 players who have gone on to play in the National Hockey League after starting their careers in the ECHL, including 12 who have made their NHL debuts in the 2023-24 season. The ECHL has affiliations with 29 of the 32 NHL teams in 2024-25, marking the 27th consecutive season that the league has affiliations with at least 20 teams in the NHL. Further information on the ECHL is available on its website at ECHL.com.

About GameAbove
GameAbove is a successful multifaceted brand consisting of charitable giving, capital investment, sports entertainment, and media ventures. It provides its portfolio companies the power to propel their business to the next level, fan and athlete experiences that aim to grow sports, and awe-inspiring cinematic experiences. Brands include GameAbove Capital, GameAbove Entertainment, GameAbove Sports, and GameAbove Giving. GameAbove and its affiliates are CapStone Holdings, Inc. companies.

GameAbove Entertainment is an award-winning sports film production company and financier, delivering cinematic storytelling that captivates global audiences. GameAbove Entertainment aspires to tell compelling stories and is committed to delivering high-quality, impactful programming. Recent work includes Iceman: A George Gervin Story.

To learn more about GameAbove, visit GameAbove.com.

Instagram: @GameAbove
LinkedIn: @GameAbove
Facebook: @GameAbove
X: @Game_Above
YouTube: @GameAbove