CMOC, CATL partner to develop major cobalt mine By Li Fusheng | chinadaily.com.cn | Updated: 2021-04-12 10:35 Workers assemble batteries at a production line of CATL, China s largest power battery maker, in Fujian province. [Photo/Xinhua]
China Molybdenum Co, one of the world s largest cobalt producers, has inked a deal with Chinese battery maker CATL to develop a major cobalt and copper mine in the Democratic Republic of Congo.
As part of the deal, CATL would acquire a 25 percent stake through a subsidiary in CMOC unit KFM Holding for $137.5 million, said the cobalt producer in a statement on Sunday.
KFM holds a 95 percent stake in the Kisanfu mine in the DRC, the world s largest cobalt-producing country.