China’s Contemporary Amperex Technology Co (CATL) has announced its offshoot was to acquire a stake in China Molybdenum Co’s Kisanfu copper-cobalt mine in the Democratic Republic of the Congo (DRC) under a deal worth US$137.5 million
Under the plan, Ningbo Brunp CATL New Energy Co will acquire a 25 percent stake in KFM Holding Limited which holds 95 percent of the Kis-anfu mine, CATL said in a statement obtained by new agency Reuters. Moly will keep a 75 stake in KFM and future production will be split ac-cordingly to the shares.
CATL says it specialises in the development and manufacturing of lithium-ion batteries. The company runs five production facilities in China and one in Germany, three research and development (R&D) centres in the two countries, according to data released by CATL.