August 26, 2021

(Reuters) – Battery giant Contemporary Amperex Technology Co Ltd is considering buying around a 10% stake in Chinese miner Jinchuan Group International Resources Co in the hopes of securing supplies of key battery metals, Bloomberg News reported on Thursday.

CATL is in initial discussions with Jinchuan about buying a stake and could offer more than one and a half times Hong Kong-listed Jinchuan’s share price, Bloomberg said, citing people with knowledge of the matter.

(Reporting by Bhargav Acharya in Bengaluru; Editing by Jacqueline Wong)