BRIEF: CATL halts lithium production at Jiangxi mine
Electric vehicle battery maker Contemporary Amperex Technology Co. Ltd. (3750.HK, 300750.SZ) (CATL) suspended operations at its Jianxiawo lithium mine in China’s Jiangxi province on Aug. 10, with no plans to resume in the short term, according to media reports. Sources suggest the halt stems from CATL’s inability to renew an expired mining permit.
CATL did not comment on the matter. Observers speculate the suspension is related to the Chinese government’s efforts to address excess capacity in the sector and heightened regulatory scrutiny over mining activities.
CATL secured the mining rights for the Jianxiawo mine in April 2022 for 865 million yuan（$120 million）. The mine spans 6.44 square kilometers.
Shares of CATL opened up 1% at HK$411 on Monday. The stock is up 57% since its Hong Kong listing earlier this year
By Lau Chi Hang
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