Sydney — One of the unintended side effects of Russia’s invasion of Ukraine is that it is helping drive an accelerated transition to renewable energy solutions in Australia’s vast resources sector.
Diesel prices are close to record highs in Australian dollar terms, and unlikely to ease soon given shortages of the transport fuel created by Europe’s decision to move away from Russian supplies as part of efforts to punish Moscow for its attack on its neighbour that began on February 24.
Diesel has been the dominant source of power for Australia’s mines, which are often located in remote areas and not connected to major power grids. Australia is the world’s largest exporter of iron ore, lithium, gold and coking coal, and ranks second in thermal coal, fifth in copper. it is also a major shipper of nickel and alumina, the base material for aluminium.
Egypt Aluminum sees a double-digit hike in net profit during the nine-month period of FY2024
