Global leader in power batteries CATL officially extends an olive branch to a legendary figure in China’s mining industry.

On April 7, an insider from CATL (300750) confirmed to First Financial Journalist that the company has officially appointed Chen Jinghe, founder and former chairman of Zijin Mining (601899), as an advisor to the mining division to assist in expanding its mineral supply chain business.

Just over three months ago, 69-year-old Chen Jinghe had just concluded a 44-year career in mining and officially retired from Zijin Mining. This cross-industry “re-employment” quickly attracted high attention from the capital market and energy industry.

“China’s Gold King”: The Mining Legend Emerging from Zijin Mountain

Chen Jinghe’s name is well known throughout China’s mining industry.

Born in 1957 in Yongding, Longyan, Fujian, he graduated from Fuzhou University with a degree in geology in 1982, then settled in Zijin Mountain, Shanghang, Fujian, engaging in geological prospecting work. Relying on precise predictions of the mineralization structure “gold above, copper below” at Zijin Mountain, he discovered China’s first super-large gold-copper deposit along the southeastern coast, earning the National Science and Technology Progress First Prize.

In 1993, Zijin Mining was officially established. Over the next 32 years, Chen Jinghe started from a barren, “lame duck” mine in Shanghang, Fujian, and led the company to grow into a multinational giant ranked among the top three global metal mining companies by comprehensive indicators, with a market value once exceeding $100 billion. Zijin Mining now owns more than 30 major mining bases worldwide, with overseas resource reserves, production, and profits surpassing domestic levels.

Due to his outstanding achievements in gold, Chen Jinghe has been dubbed “China’s Gold King.” He also enjoys special government allowances from the State Council and holds several important positions, including Vice President of the China Mining Association and Vice President of the China Nonferrous Metals Industry Association.

In November 2025, Zijin Mining announced that Chen Jinghe would no longer accept nominations for director candidates due to age and family reasons, and planned to appoint him as a lifelong honorary chairman and senior advisor. On January 1, 2026, Chen Jinghe officially retired, ending a 44-year career. In his farewell speech, he reflected: “Zijin Mining has transformed from an insignificant county-owned small enterprise into a Fortune 500 company with a total market value exceeding 900 billion yuan, proudly ranking among the top three global metal mining companies.”

Why Did CATL Invite the “Mining Godfather”?

The competition in the battery industry fundamentally hinges on control over upstream resources.

As a global leader in power batteries, CATL has been accelerating its extension into upstream mineral resources in recent years. To ensure the supply of key raw materials such as lithium, nickel, cobalt, and phosphorus needed for battery production, CATL has deeply involved itself in mineral resource investment, construction, and operation through various means such as building, equity participation, joint ventures, and acquisitions.

However, mining development has never been a traditional strength of battery manufacturers. From exploration and extraction to smelting, processing, and logistics, mining is a technology-intensive, capital-intensive, and long-cycle industry. CATL urgently needs to fill this “professional gap.” Inviting Chen Jinghe at this moment is a precise strategic move—this mining industry legend, who built Zijin Mining’s global footprint, is the ideal candidate for CATL to “fill the shortcoming.”

It is worth noting that during his tenure at Zijin Mining, Chen Jinghe had already engaged in the new energy materials sector. Zijin Mining currently possesses high-quality lithium resources in the “Two Lakes, Two Mines” globally, controlling over 17.88 million tons of lithium carbonate equivalent (LCE), ranking among the top tier worldwide. The company plans to reach an annual lithium carbonate equivalent production of 250,000 to 300k tons by 2028. These experiences are undoubtedly valuable assets for CATL.

From Competitors to Partners

Previously, CATL and Zijin Mining were “direct rivals” in the lithium mining field.

As one of China’s largest gold and copper producers, Zijin Mining has recently made lithium resources a core strategic focus. The two companies have frequently clashed in the global lithium race, from overseas salt lakes to domestic lithium micas, often engaging in fierce “mine grabbing battles.”

However, behind the apparent competition, cooperation between the two has already begun.

In March this year, Longpan Times, a joint venture between CATL and Longpan Technology, signed a quarterly framework mineral purchase agreement with Zijin Mining. This commercial cooperation indicates that CATL and Zijin Mining have established substantial business ties in the lithium resource supply chain.

Now, CATL’s direct appointment of Chen Jinghe as a mining advisor marks a shift from “competition mainly, cooperation secondary” to “deep collaboration.” Analysts suggest that Chen Jinghe’s addition will not only bring top-tier mining technical judgment and global resource exploration perspectives to CATL but also help build a more efficient strategic communication bridge between the two companies.

Postscript

This seemingly coincidental “cross-industry appointment” actually reflects a new phase in the competition within the new energy industry.

For CATL, Chen Jinghe’s involvement will significantly enhance the company’s strategic judgment and execution in the global mineral resource field. Amid increasing uncertainties in the supply of key minerals like lithium, cobalt, and nickel, having a “mining strategist” capable of accurately assessing mineral value, controlling development pace, and managing cross-border mergers and acquisitions is of immense strategic value.

For Chen Jinghe himself, returning to the industry after retirement demonstrates his keen insight into the new energy era—highlighting that the global energy transition’s historic opportunity is far from over.

For the entire new energy sector, the deep integration of battery leaders and key figures in mining giants signals further reshuffling of the industry landscape.