CPC urged to secure mineral rights overseas

Taipei, State-owned oil refiner CPC Corp. could do a lot to support local industries by helping secure minerals from overseas markets, Taiwanese business executives and academics said Thursday.

Speaking during the CPC Future Smart Energy forum, Mechema Chemicals International Corp President Yen Lung-tsai (???) said CPC could land purchase agreements with suppliers overseas to facilitate stable supply of minerals for battery makers in Taiwan.

Due to the relatively small market, much of the materials, including cobalt and nickel, for making lithium cobalt batteries, need to be imported by businesses themselves, and at a steep price tag, Yen said.

Based out of Taoyuan, Mechema has for the last decade been involved in the manufacture of lithium batteries and has since become one of the country's major battery suppliers for electric vehicles.

CPC could do a lot to support local businesses by investing in overseas lithium or cobalt mines to provide materials for battery makers in Taiwan, said Chen Chin-ming (???), an academic at Industrial Technology Research Institute in Hsinchu County.

The state-owned refiner should assist local battery module makers maintain a steady supply of minerals and not let them go out of business just because they can't get their hands on the necessary materials from overseas, Taiwan University of Technology Professor Hsiung Cheng-yi (???) said.

Source: Focus Taiwan News Channel