Contemporary Amperex Technology Co. (CATL), the global leader in electric vehicle (EV) battery manufacturing, has reportedly brought in Chen Jinghe, Zijin’s (HK:2899) founder and ex-Chairman, as an advisor for its growing mining business.
Chen stepped down from Zijin in late 2025 after leading Zijin for more than 30 years, growing it to become one of China’s largest mining companies with a market capitalisation of above US$120 billion ($170 billion).
According to SNE Research, CATL is the world’s largest EV battery supplier, with 42.1% of the global market share, followed by China’s other major manufacturer, BYD.
CATL already has equity investments in mining operations domestically and globally, with a focus on lithium, copper-cobalt, and nickel.
This comes as battery original equipment manufacturers (OEMs) have been investing in the upstream exploration and development side of the mining industry as a way to secure the critical minerals needed for their manufacturing supply chains and to hedge against market volatility.
China’s dominance in battery manufacturing and upstream mineral supply and processing is a precursor to growing global policies around critical minerals and supply chain security.
With CATL’s move to deepen its mining footprint, the company is driving more power over critical minerals toward China, challenging global efforts to diversify their supply chains and reduce reliance on Chinese-controlled assets.
Former Deputy Director for Batteries and Critical Materials at the US Department of Energy Ashley Zumwalt-Forbes commented publicly that this move is not good news for Western supply chain diversification.
Zumwalt-Forbes says that “when the largest buyer of upstream materials starts behaving like (or becoming?) a mining company, pricing power does not sit cleanly downstream. It begins to influence upstream through scale, timing, and capital.”
The appointment of Chen Jinghe highlights the OEM strategy to engage more directly with the mining sector and secure the supply of key critical minerals for their own manufacturing supply chains. It also highlights the need for global stakeholders to continue to develop diversified supply chains to ensure resilience and security of supply in this rapidly evolving global market.
Write to Amy Rotman at Mining.com.au
Images: CATL
