According to the annual report by Ernst & Young Global Ltd., over 150 mining executives have identified the growing need for capital as a top business risk in the mining sector. The demand for minerals like lithium and nickel, used in the production of batteries for electric vehicles, has surged due to increasing global efforts to reduce carbon emissions. As a result, countries have implemented policies to secure these critical minerals and reduce their dependence on China, which dominates the sector. The report also highlights the ongoing prioritization of environmental, social, and governance issues as the biggest risk for miners. Executives acknowledge the complexity of addressing these concerns and emphasize the importance of building trust with local communities, particularly when mining projects involve Indigenous lands, to secure necessary approvals.