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    During the cyberattack on Optus, the information of nearly 10 million Australians was stolen.

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  • Home
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    During the cyberattack on Optus, the information of nearly 10 million Australians was stolen.

    Driver’s license numbers were stolen in the Optus hack will have to get new ones

    A woman was seriously hurt in an accident, so Victoria Police and WorkSafe are still looking into what happened.

    Rebel roller coaster royal melbourne show accident, Shylah Rodden hit crash

    Optus says that neither its home internet nor its mobile internet have been affected.

    Telstra amaysim optus data breach 2022 hacked today, what to do cyber security

    Scotus credit card numbers leaked doxed hacked, supreme court gen z leak reddit

    Scotus credit card numbers leaked doxed hacked, supreme court gen z leak reddit

    In 2013, Dr. Paolo Macchiarini was at Stockholm's Karolinska Institute. Two years earlier, when he made and put in place the world's first "bioartificial" windpipe, he sent shock waves through the medical world.

    Dr. Paolo Macchiarini creating abioartificial windpipe, 3-D printed organ

    Two of the people who started the #AppleToo movement have had a very bad fight, and it's very bad.

    Apple employees Cher Scarlett and Ashley Gjøvik campaign #AppleToo

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    The Philadelphia 76ers

    The Philadelphia 76ers: A Storied NBA Franchise with a Bright Future

    Harvey Weinstein

    Harvey Weinstein movie about him, who did assault lisa bloom & gwyneth paltrow

    Two weeks ago, Willie McGinest was detained in Los Angeles on suspicion of assault.

    Willie McGinest fight arrest tmz news, mcginnis nfl network video twitter

    luka modric

    How old is luka modric, height age stats club wife salary net worth

    At the cricket, Candice Warner has had to deal with bullies.

    Candice Warner revealed target vile abuse from unruly fans at Adelaide Oval

    After what happened at his Christmas party, Susie Burrell, a dietitian in Sydney, is said to have left Chris Smith this week.

    Chris Smith wife susie burrel 2gb radio sky latest news, age twin stood down

    Peter Helliar

    Peter Helliar leaves the project quits news, pete hellyer net worth

    The Project's Lisa Wilkinson has revealed that she will be leaving the team.

    Why is lisa wilkinson leaving the project, logies speech transcript

    Martial has been named as a possible contender to replace the Real Madrid star

    Who will replace Karim Benzema : Anthony Martial Martin Terrier or Wissam Ben Yedder

  • Lifestyle
    • All
    • Fashion
    • food
    • Health
    • Travel
    seaworld helicopter crash

    vanessa tadros killed victims in seaworld helicopter crash video liveleak

    One person was killed and a Ferrari was smashed in half after a three-car collision in California.

    Robert Nicoletti ferrari crash on Santiago Canyon Road California

    dj stephen twitch boss

    Is twitch really dead 2022 what happened, dj stephen boss cause of death

    After a woman's death from Legionnaire's disease, health officials in NSW are warning gardeners to protect their hands.

    Sydney woman died from legionnaires disease by potting mix, longbeachae bacteria

    Vicky Phelan was told she had cancer in 2014, three years after the first tests showed it wasn't there.

    Vicky Phelan cervical cancer scandal, false negative results screening

    There are FDNY ambulances in front of the ER at Queens Hospital Center.

    Infants and toddlers in emergency rooms, respiratory syncytial virus or rsv

    Her parents are very worried and want to know where she is.

    Chloe Campbell boulder co colorado girl missing, Instagram photo found

    There is chaos at Melbourne Airport because of a security breach.

    Adelaide airport security breach evacuation delays, melbourne chaos

    Foot-and-mouth disease is caused by a virus that spreads easily and has bad effects on animal health and trade.

    Bali foot and mouth fmd disease outbreak, flights cancelled travel warnings today

    The top five MasterChefs Julie Goodwin, Daniel Lamble, Billie Mckay, Sarah Todd and Keyma Vasquez Montero.

    What happened to julie Goodwin, alcohol cooking school classes central coast

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    • Golden Globes
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Goldman Sachs comment Copper vs Lithium, The Title Of New Oil

April 24, 2021
in Business
Copper cathode on its way to be exported from Chile's colossal Escondida mine.

Copper cathode on its way to be exported from Chile's colossal Escondida mine.

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Lithium and Copper Compete for the New Oil Title

Although oil remains the energy sector’s king for the time being, a conga line of pretenders is vying for the throne, including copper, which Goldman Sachs dubbed “the new oil” last week.

Copper, according to investment bank analysts, will be critical in the race to replace internal combustion engines in cars with electric motors (EVs), as well as in anything else that uses electricity.

Although it is debatable if copper deserves the title of commodity king, what is unarguable is that another metal has been nominated as the energy world’s top dog.

Lithium, a critical component of batteries, was dubbed “the white petroleum” during the initial wave of excitement for EVs many years ago.

Although neither copper nor lithium will ever completely replace oil, it is highly likely that as the race to replace fossil fuels with electricity produced and then stored in battery metals intensifies, oil will face increasing strain.

Complicating the oil challenge is a rise in government demands for significant reductions in the environmentally damaging pollution generated by oil, coal, and natural gas combustion.

Pressure to reduce oil consumption comes at a time when the global mining industry is rushing to fill the energy gap with copper, lithium, and other battery metals such as graphite, manganese, and vanadium.

Lithium the other new oil
Lithium the other new oil

Friedland Strikes Again With The National Security Card

At the same copper conference in Chile where Goldman Sachs played its “copper is the new oil” card, another prominent commodities figure, Robert Friedland, ratcheted up the rhetoric by warning that access to copper and other raw materials was becoming a national security problem.

Friedland, who amassed his $1.8 billion fortune through mining acquisitions, said that while wars have been fought over oil over the last century, he hinted that future conflicts could be fought over access to battery metals.

Copper’s steady rise to $4.29 per pound, close to a 10-year high, puts it within striking distance of the all-time high of $4.54/lb hit in 2011.

Lithium prices are also increasing steadily, with spodumene (lithium ore) trading at $600 per ton, up 40% from last year’s average and forecast by Goldman Sachs to reach $676/t next year and $707/t in 2023.

Lithium hydroxide, one of the chemical forms of the metal favored by battery manufacturers, is currently trading at about $11,250/t, up 13% from last year’s average of $9978/t, but is expected to reach $12,274 by the end of the year and then reach $15,000/t in 2023, according to Goldman Sachs.

The possibility of a sharp increase in the price of lithium has sparked a burst of corporate activity among lithium miners, with the most recent transaction involving the merger of two Australian lithium producers.

Galaxy Resources and Orocobre have operations in Australia and Argentina, respectively, as well as construction ventures in Canada and South America.

The merged company, which has not yet been given a name, will be the fifth largest lithium producer in the world, with an approximate market value of $3 billion.

Tags: CopperLithiumMining

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