CATL acquires stake in cobalt mine in DR Congo

The world’s largest maker of batteries for EVs, China’s Contemporary Amperex Technology Co Ltd (CATL), is taking a $137.5 million stake in a cobalt mine in the Democratic Republic of Congo, Reuters reports. Previously, the mine was 95 percent owned by China Molybdenum, the world’s largest cobalt producer. A subsidiary of CATL is now taking a 23.75 percent stake in the mine.