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Chinese Battery Maker Takes Controlling Stake in Quebec Lithium Project
Add time:2018-04-13    Click:289

China’s largest battery maker has taken a large controlling stake in a lithium project in Quebec, as companies rush to get access to supplies of the key raw material.


The purchase comes as Contemporary Amperex Technology, or CATL, is rapidly expanding its production of electric car batteries with the aim of becoming the world’s largest producer by 2020.


The Ningde-based company is set to raise $2bn through an initial public offering in China this year, valuing it at $20bn.


CATL bought 36.6m shares of North American Lithium from Chinese company Jilin Jien Nickel Industry, to make it a controlling shareholder with over 90 per cent of the shares, according to statements Monday. The Quebec government owns a 5 per cent share in the company.

根据周一的声明,宁德时代向中资的吉林吉恩镍业(Jilin Jien Nickel Industry)收购了北美锂业(North American Lithium)的3660万股票,以90%以上的持股成为控股股东。魁北克省政府拥有北美锂业5%的股份。

Jilin Jien Nickel Industry, which bought the company in 2016 out of bankruptcy, said it no longer had the money to fund its lithium project in La Corne Township.

2016年收购已进入破产的北美锂业的吉林吉恩镍业表示,它无法再满足北美锂业在La Corne镇的锂项目的资金需求。

Discovered in 1942, the mine once provided lithium to the US Atomic Agency in the 1950s.


The mine is expected to produce 23,000 tonnes of battery grade lithium carbonate every year, according to the company’s website.


Lithium prices have more than doubled over the past two years due to growing sales of electric cars, especially in China.


The Canadian Environmental Assessment Agency is currently conducting an assessment into the open pit mining project.

加拿大环境评估局(Canadian Environmental Assessment Agency)正在对这个露天采矿项目进行评估。

Earlier this month CATL invested C$50m into North American Lithium, and an additional C$16m in a convertible bond.


Dove Tan


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