{"id":1136346,"date":"2019-09-04T08:21:46","date_gmt":"2019-09-04T13:21:46","guid":{"rendered":"https:\/\/www.mining.com\/?p=1001017"},"modified":"2019-09-04T08:21:46","modified_gmt":"2019-09-04T13:21:46","slug":"chinas-catl-becomes-pilbara-minerals-knight-in-shiny-armour","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1136346","title":{"rendered":"China\u2019s CATL becomes Pilbara Minerals\u2019 knight in shiny armour"},"content":{"rendered":"<p>China\u2019s largest lithium battery maker has bought an 8.5% stake&nbsp;in Australian miner Pilbara Minerals (ASX:PLS), both companies <a href=\"http:\/\/www.pilbaraminerals.com.au\/site\/PDF\/2481_0\/PilbaraMineralsEquityCapitalRaising\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">said on Thursday<\/a>, after falling prices caused mainly by oversupply drove the lithium producer to raise equity to fund working capital.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The move by Contemporary Amperex Technology (CATL) is part of a A$91.5 million ($61.8 million) capital raising that sees the Chinese firm buying the stake in Pilbara through a A$55 million placement. An additional A$36.5 million has been raised through an institutional placement at A$0.30 a share, the companies said.&nbsp;<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>China\u2019s largest lithium battery maker has bought an 8.5% stake in Pilbara as part of a A$91.5 million ($61.8 million) capital raising<\/p>\n<\/blockquote>\n<\/figure>\n<p>Pilbara, which exports a<br \/>\nlithium-rich spodumene concentrate, will also seek to raise A$36.5 million from<br \/>\ninstitutional investors and $20 million from retail shareholders at 30\u00a2 per<br \/>\nshare.<\/p>\n<p>CATL, which makes electric vehicle batteries for car manufacturers&nbsp;including Toyota, BMW, Volkswagen and Honda, is <a href=\"https:\/\/www.mining.com\/worlds-top-maker-battery-cells-evs-open-german-plant-2021\/\"  rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">currently building a factory in Germany<\/a>.&nbsp;<\/p>\n<p>\u201cWhile there has been commentary talking down the current state of lithium markets, it has belied the significant interest we have continued to see from the strategic players in the lithium-ion supply chain and their focus on lithium raw material supply,\u201d Pilbara Minerals managing director, Ken Brinsden, <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"http:\/\/www.pilbaraminerals.com.au\/site\/PDF\/2481_0\/PilbaraMineralsEquityCapitalRaising\" >said in the statement<\/a>.<\/p>\n<p>\u201cIn particular, the focus is on the<br \/>\nquality and security of the lithium raw material supply and matching the raw<br \/>\nmaterial demand growth to growth downstream in the lithium-ion battery supply<br \/>\nchain,\u201d he noted.<\/p>\n<p>Based in Fujian province in southeast China, CATL currently produces lithium-manganese-cobalt-oxide&nbsp;(NMC) batteries containing 50% nickel, 20% cobalt and 30% manganese.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.mining.com\/wp-content\/uploads\/2019\/09\/increased-annual-demand-for-materials-for-batteries-from-evs.jpg\" alt=\"\" class=\"wp-image-1001020\" srcset=\"https:\/\/www.mining.com\/wp-content\/uploads\/2019\/09\/increased-annual-demand-for-materials-for-batteries-from-evs.jpg 900w, https:\/\/www.mining.com\/wp-content\/uploads\/2019\/09\/increased-annual-demand-for-materials-for-batteries-from-evs-279x300.jpg 279w, https:\/\/www.mining.com\/wp-content\/uploads\/2019\/09\/increased-annual-demand-for-materials-for-batteries-from-evs-768x826.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption><em>Source: <a href=\"https:\/\/www.iea.org\/publications\/reports\/globalevoutlook2019\/\"  rel=\"noopener noreferrer\"> IEA\u2019s Global Electric Vehicle Outlook 2019.<\/a><\/em><\/figcaption><\/figure>\n<p>The transition to battery power<br \/>\nwill sharply increase demand for raw materials. Deployment of about 140 million<br \/>\nelectric vehicles by 2030 will require 3 million tonnes more copper a year, 1.3<br \/>\nmillions tonnes more nickel and about 263,000 tonnes more cobalt, according<br \/>\nto&nbsp;Glencore (LON:GLEN), a top producer of all three metals.<\/p>\n<p>The Pilbara-CATL deal is subject to<br \/>\napproval by Chinese regulators and Pilbara shareholders.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/chinas-catl-becomes-pilbara-minerals-knight-in-shiny-armour\/\">China\u2019s CATL becomes Pilbara Minerals\u2019 knight in shiny armour<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/\">MINING.COM<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Contemporary Amperex Technology (CATL) has bought an 8.5% stake in the Australian lithium miner.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/chinas-catl-becomes-pilbara-minerals-knight-in-shiny-armour\/\">China&rsquo;s CATL becomes Pilbara Minerals&rsquo; knight in shiny armour<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.mining.com\/\">MINING.COM<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1016,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1136346"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1136346"}],"version-history":[{"count":9,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1136346\/revisions"}],"predecessor-version":[{"id":1136599,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1136346\/revisions\/1136599"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1136346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1136346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1136346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}