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Lithium booms in the battle for electric vehicle batteries

Lithium has a better claim than most commodities to be the “new oil”. He even comes with the latest geopolitical baggage.

Prices for lithium-based chemicals that go into rechargeable batteries have skyrocketed this year as sales of electric vehicles have increased, especially in China. The average price of lithium carbonate, one of the two key compounds used by battery makers, reached $ 14,386 per metric tonne in August, according to Benchmark Minerals, from $ 6,124 in December.

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