CATL teams up with three firms to co-exploit lithium resources in Sichuan province

Shanghai (Gasgoo)- Sichuan CATL New Energy Resource Co., Ltd. (“Sichuan CATL”), a wholly-owned subsidiary of CATL, recently signed a four-party agreement with three Sichuan-based companies for the cooperation on exploration and supply of lithium resources, CATL announced on Feb. 14 via its WeChat account.

CATL signing agreement with three Sichuan-based companies; photo credit: CATL

The three companies are Garze Tibetan Autonomous Prefecture Investment and Development Group Co., Ltd., Yibin Sanjiang Huida New Energy Resource Co., Ltd., and Sichuan Tianfu Mining Investment Co., Ltd.

Under the agreement, all parties should carry out collaboration on the premise of national strategic safety guarantee for mining business. They will co-work on accelerating the exploration and development of lithium resources in Sichuan province and strengthening the supply of lithium resources, so as to provide a solid support for Sichuan's development of power battery industry development.

According to the corporate database Tianyancha, Sichuan CATL was incorporated on Jan. 13, 2022 with a registered capital of 1 billion ($157.206 million). It features a line of businesses covering ore dressing, mineral processing, sale of metallic minerals and chemical products, and R&D of new materials-related technologies.

Notably, CATL forged a strategic partnership with another Sichuan-based company, namely, Sichuan Energy Investment, in October 2021, as part of efforts to shore up the supply of lithium mineral resources for the landlocked province in Southwest China.