Well-known Chinese news site Sina recently reported that China’s largest lithium manufacturer, CATL, recently acquired a controlling interest of over 90 percent of Canadian lithium mine owner, North American Lithium. The Quebec government also owns five percent of the shares. CATL is rapidly expanding its capacity to manufacture electric car batteries, aiming to become the largest battery manufacturer in the world. Industrial analysts expressed their belief that CATL’s recent move is to secure the supply of raw resources needed for its products. This deal is still pending approval from the Chinese government and the Quebec government. The Canadian Environmental Assessment Agency is also currently performing its assessment. The mine is capable of producing 23,000 tons of battery-grade lithium carbonate. In terms of global lithium resource control, China is currently ahead of the United States and Europe.
Source: Sina, March 13, 2018
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