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Thieves pull off a daring heist in Mumbai's Dadar, using shovels and cable cutters to excavate buried items. The theft highlights the increased demand for copper in the energy sector and the importance of sustainable sourcing practices.
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- The theft in Dadar was driven by the high value of copper in telecommunication cables, showcasing the risk of criminal activities in the copper market.
- Rising copper prices due to global demand affect industries such as electric vehicles, highlighting the importance of sustainable copper sourcing strategies for future energy transitions.
Deep dives
Midnight Copper Heist in Mumbai
A daring group of thieves carried out a calculated theft in Mumbai, targeting telecommunication cables for their valuable copper content. In a meticulous operation, the thieves excavated cables worth 7 lakh rupees, highlighting the lucrative nature of copper theft. The rising global demand for copper, driven by energy transition initiatives, has led to soaring copper prices, making it an attractive target for criminal activities like cable theft. With estimated annual losses reaching up to 1.9 billion dollars in India alone, the impact of copper theft on public infrastructure and renewable energy projects is concerning.
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