The investment makes CATL the third-largest shareholder of the company.

Chinese media reported that China's top economic planner had granted approval to power plants to import coal without clearance restrictions, except for Australia.

Flourishing demand in China and the United States, higher freight costs and tight scrap supplies are expected to fuel further rises in prices of the metal.

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Company has increased its offer price from A$1.00 to A$1.05 a share, matching an offer from Shandong Gold.

The world’s biggest copper miners are enjoying a rare bonanza, helped along by fallout from the coronavirus pandemic.

The Bloomberg Commodity Spot Index rose 1.3% on Thursday to its highest since 2014.

A series of deadly mining accidents has hit output, while self-imposed import restrictions -- including on key supplier Australia -- limit shipments from overseas.