CATL sets up mining company in Guizhou province

Shanghai (Gasgoo)- Chinese power battery giant CATL recently became the majority shareholder of a mining company registered in Guiyang, the capital of Southwest China's Guizhou province.

Photo credit: CATL

According to the corporate database Tianyancha, the new company, named Guizhou CATL Mining Co.,Ltd., was incorporated on Dec. 31, 2021 and involves a registered capital of 800 million yuan ($125.891 million). It is 90% controlled by CATL (Guizhou) New Energy Materials Co.,Ltd., a wholly-owned subsidiary of CATL, and 10% held by Guizhou Phosphate Chemical Group, a Guizhou-based state-run company engaging in phosphorus rock mining and phosphorus chemical production.

The newborn firm's main businesses include mining of mineral resources (non-coal minerals) and mineral separation, washing, and processing, according to Tianyancha.

In Nov. last year, CATL set up a wholly-owned subsidiary in Yichun, Jiangxi province, dubbed Yichun CATL New Energy Resource Co.,Ltd., whose operations also encompass the mining of mineral resources.

CATL's rival BYD has tapped the mining industry as well through investment in a Sichuan-based company that was just founded on Dec. 30, 2021. The new firm is permitted to work on mining and exploration of mineral resources. BYD was the company's No. 4 shareholder with 1% stake held.