With the clean energy transition well underway and demand for critical minerals skyrocketing, mining companies are facing an astounding $1 trillion funding gap as tough financing and economic conditions make it more difficult to deliver the metals needed.聽
EY published a recent report on the top risks and opportunities for the mining industry 鈥� topping the list: access to capital. Last year access to capital came in number 2 in EY鈥檚 report, after environmental social and governance (ESG). 聽
鈥淩aising capital for new mines and raising capital to expand existing mines in a brownfield environment, or even access to capital to streamline portfolios, has become front and center for mining executives,鈥� Theo Yameogo, EY鈥檚 Mining and metals Leader for the Americas and Canada,聽said in an interview. 聽
Yameogo pointed out that to help address this gap, pension funds need to become bigger players in the mining sector, because there will be no energy transition without metals and minerals. 聽
Watch the full interview with MINING.com鈥檚 Devan Murugan: 聽