Asian Tech Press (Aug 26)-- China-listed Contemporary Amperex Technology Co Ltd (CATL) denied a Bloomberg report that it was considering buying a 10% stake in miner Jinchuan Group Internationl Rsrcs Co Ltd ("Jinchuan Gr Intl", 2362.HK).

CATL is considering buying a minority stake in Chinese miner Jinchuan Gr Intl in a bid to secure supplies of key battery metals, Bloomberg said Thursday, citing people familiar with the matter.

Tesla battery supplier CATL is in preliminary discussions with Jinchuan Gr Intl about buying about 10% of the latter's shares, at a price that could be more than 1.5 times the current share price of Hong Kong-listed Jinchuan Gr Intl.

However, people familiar with the matter also said that the acquisition is still at the stage of preliminary talks, not actually finalized, and the transaction may require government approval.

The relevant person in charge of CATL responded that the news is not true. Jinchuan Gr Intl did not make any reply.

Thursday afternoon, affected by the news, Jinchuan Gr Intl stocks once pull up 90%. And by the close of trading, it was up 16.19% at HK$1.22 per share.