Rumour Goes that CATL Will Bid for A Canadian Lithium Company at A Price of US$298 Million

Published: Sep 16, 2021 10:53

Save

Net rumours say that CATL (Contemporary Amperex Technology Co., Limited) (300750) intends to contribute C$377 million (US$298 million) to bid for the Canadian lithium company, Millennial, thereby ensuring a stable supply of lithium resources. The offer is said to be about 7% higher than Ganfeng Lithium's previous proposed offer.

SHANGHAI, Sep 16 (SMM) - Net rumours say that CATL (Contemporary Amperex Technology Co., Limited) (300750) intends to contribute C$377 million (US$298 million) to bid for the Canadian lithium company, Millennial, thereby ensuring a stable supply of lithium resources. The offer is said to be about 7% higher than Ganfeng Lithium's previous proposed offer.

Millennial, listed in Toronto, Canada, mainly engages in the acquisition, exploration and development of lithium mining. The Company's principal assets are the Pastos Grandes Lithium Salt Lake Project in Salta Province, Argentina, and the Cauchari East Lithium Salt Lake Project in Jujuy Province, Argentina.

In July this year, Ganfeng Lithium (002460) announced that, in order to expand the company's business coverage and enhance its core competitiveness, the company intended to offer to acquire as much as 100% of the equity of Millennial at a price of C$3.60 per share, in a transaction amounting to C$353 million the highest, while the real target was the salt lake projects in Argentina.

However, Millennial announced to the public on September 8 that it had received a non-binding unsolicited offer from a foreign lithium battery producer for C$3.85 per share, but did not mention the specifics about the company. An internal resource said that CATL was the buyer behind this proposal.

According to the media, Luoyang Molybdenum (603993) is also considering participating in the bid for Millennial.

lithium

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Jul 31, 2026 22:58

[SMM Lithium Policy] Zambia Pushes for Pan-African Minerals Exchange, With Implications for Africa's Lithium Trade

Zambian Ministry of Mines is advancing a proposal for a pan-African minerals and metals exchange to give producer nations greater control over mineral trading and pricing. Adviser Jito Kayumba said the plan builds on Zambia's metals-trading tie-up with Mercuria and has already been discussed with the DRC and two undisclosed countries. For lithium, the move aligns with Zimbabwe's SC6 export controls and Mali's Goulamina ramp-up, and could eventually offer an alternative to CIF China spodumene pricing as African-origin volumes grow through ports like Walvis Bay and Beira. DRC's Manono project (targeting 1Mt/y spodumene) would also fall within scope. SMM view: Early-stage and non-binding no confirmed members, governance, or timeline. Relevant to watch for delivered-cost and netback benchmarking on Zimbabwe/Mali/DRC assets, but limited near-term pricing impact.

Jul 31, 2026 22:58

Jul 31, 2026 22:49

Axpo, Zelestra Sign Long-Term Battery Storage Deal in Italy Amid Market Growth

Power firm Axpo and independent power producer Zelestra have entered into a long-term tolling agreement for a battery energy storage project in northern Italy. This marks Zelestra’s second such tolling deal in July, underscoring the company’s aggressive expansion into the Italian storage market. Tolling structures are becoming increasingly common in European BESS project finance, as they provide offtake certainty while allowing developers to retain merchant upside exposure. Italy’s storage market is accelerating due to the country’s high solar penetration, grid congestion in the south, and regulatory reforms enabling standalone storage participation in energy markets. The Axpo-Zelestra deal adds to the growing pipeline of contracted Italian BESS capacity.

Jul 31, 2026 22:49

Jul 31, 2026 22:48

Alcemi Enters Romanian Battery Market as CEE Storage Sector Gains Momentum

UK-based developer Alcemi has entered the Romanian battery storage market, expanding its Central and Eastern European footprint. Concurrently, Slovakia’s largest battery storage project to date has commenced operations, marking a milestone for a market that has lagged regional peers in storage deployment. The developments reflect a broader trend of Western European storage developers and capital targeting emerging CEE markets, where grid flexibility needs are rising in tandem with renewable buildouts. Romania and Slovakia’s storage markets are benefitting from EU funding mechanisms and national energy security strategies that prioritize domestic flexibility resources. These projects add to the growing evidence that CEE is transitioning from a nascent to an active storage development region

Jul 31, 2026 22:48