CATL Participates in Bid to Acquire Canadian Lithium Mine
[Asia Economy Reporter Kwon Jae-hee] China’s CATL, the world’s number one electric vehicle battery manufacturer, has reportedly participated in the bid to acquire Canadian lithium mining company Millennial Lithium Corp, Bloomberg News reported on the 14th (local time).
Bloomberg, citing sources familiar with the matter, confirmed that the anonymous bidder disclosed by Millennial Lithium Corp on the 8th was CATL.
The acquisition offer presented by CATL was 377 million Canadian dollars (approximately 348.3 billion KRW), which is higher than the 353 million Canadian dollars (approximately 326.1 billion KRW) offered by Ganfeng Lithium, the world’s third-largest lithium producer, who announced their bid in July.
After receiving CATL’s acquisition proposal, Millennial Lithium Corp has requested Ganfeng Lithium to submit a new offer by the 27th.
Millennial Lithium Corp is also reportedly attracting interest from China Molybdenum.
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In company materials released in June, Millennial Lithium Corp stated that it is currently focused on lithium exploration and development in Argentina and has secured a total of 4.12 million tons of lithium carbonate equivalent.
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