Chinese company buys a stake in a large lithium deposit in Congo

14:46 - 29.09.2021

September 29, Fineko/abc.az. The largest Chinese manufacturer of lithium-ion batteries, Contemporary Amperex Technology (CATL, C.A.T.L.) has agreed to acquire a 24% stake in one of the world's largest lithium deposits in the Democratic Republic of the Congo (DRC).

One of the CATL divisions has agreed to pay $240 million to Australian mineral exploration company AVZ Minerals on the Manono lithium deposit development project in the south-east of the DRC. As a result of this transaction, AVZ Minerals will have 51% of the shares, Congo’s state-run company Cominiere 25%, and the rest will go to China’s CATL.