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CATL Suspends Output at China Lithium Mine for Three Months

WATCH: CATL halted operations at a major mine in China. Danny Lee breaks down the situation and what it means for markets.Source: Bloomberg

Battery giant Contemporary Amperex Technology Co. Ltd. has suspended production at a major lithium mine in China’s Jiangxi province for at least three months, according to people familiar with the matter.

CATL, the world’s largest manufacturer of electric-vehicle batteries, has announced internally that the Jianxiawo mine would be temporarily halting operations, they said. One of the people said the suspension came after the company failed to extend a key mining permit which expired on Aug. 9.