China’s Contemporary Amperex Technology Co (CATL) has announced its offshoot won the bid for the exploration rights to a lithium clay project located in Yichun, in the country’s eastern Jiangxi province, with a value of some CNY 865 million (US$134.8 million).
“Located in Huaqiao Town of Yifeng County and Shangfu Town of Fengxin County and covering an area of 6.44 square kilometers, the de-posit is estimated to contain about 2.66 million tons of associated lithium metal oxide in the 960.25 million tons of porcelain clay minerals,” the Chi-nese business said in a statement.
CATL said that, last September, the company inked a deal with the mu-nicipal authorities of Yichun to jointly develop a new lithium-ion battery production facility, and intensify their industrial cooperation, according to the statement.