(Yicai Global) Nov. 28 — Power battery giant Contemporary Amperex Technology appears to have taken the lead in the battle to take control of bankrupt Yajiang Snowway Mining Development, which owns the rights to develop a lithium ore mine in southwestern China.
CATL has become the first-in-line investor in Snowway and GCL Energy Technology is now the second-in-line investor. Green energy firm GCL had previously appeared to be in pole position, having said earlier in November that it was set to take a majority stake in the miner.
CATL said it will try to help Snowway overcome its debt crisis as soon as possible and improve its profitability, China Securities Journal reported, citing a response from CATL. The company also said the investm…
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