Chinese in big cobalt deal
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CMOC only acquired its 95% interest in the project in December from Freeport-McMoRan for $550 million.
DRC state-owned miner Gecamines owns the remaining 5% of Kisanfu.
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In a translated statement, CMOC and CATL said they would also look to co-operate on nickel projects and further lithium opportunities.
Benchmark Mineral Intelligence head of price and data assessments Caspar Rawles said the deal represented a direct investment in cobalt from a tier one player and highlighted the long-term role of cobalt in batteries and ongoing supply concerns.
"This is a significant development, in that CATL, a China based global leader in the production of EV battery materials, is moving upstream in the supply chain to secure supply of battery materials," ASX-listed developer Sunrise Energy Metals (formerly Clean TeQ Holdings) said.
"It also supports the view that cobalt is likely to continue to be a very important component of EV batteries over the long-term."
CMOC has a market value of about $17.8 billion, while CATL is capped at $113 billion.