Battery Giant CATL Owns Another Lithium Mine by Spending More than $860 Million Acquiring Previous Owner _SMM

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Home / Metal News / Cobalt & Lithium / Battery Giant CATL Owns Another Lithium Mine by Spending More than $860 Million Acquiring Previous Owner

Battery Giant CATL Owns Another Lithium Mine by Spending More than $860 Million Acquiring Previous Owner

Mar 16, 2023 15:54

CST

Source:SMM

On March 6, Chinese battery giant CATL has become the full owner of Yajiang County Sinuowei Mining Development Co. at a cost of more than 6 billion yuan ($860 million).

This move has allowed CATL to take over Dechenongba lithium mine in Yajiang county, Sichuan province from its previous owner Yajiang County Sinuowei Mining Development.

The mine is estimated to contain lithium resources that are equivalent to 4.05 million mt of lithium concentrates, which could produce 506,500 mt of lithium carbonate.

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