Contemporary Amperex Technology (SHE:300750, HKG:3750) has been told to pay 247 million yuan for the transfer of mining rights to its Jianxiawo lithium project in Jiangxi province, Bloomberg News reported Friday, citing the local Department of Natural Resources.

The payment marks another step toward restarting operations at the mine, which has been suspended since August after CATL failed to secure an extension of its mining permit, according to the report.

The Jianxiawo project is forecast to contribute about 3% of global lithium supply once production resumes, Bloomberg said.

UBS analysts reportedly said the fee was lower than expected and remains a precondition for CATL to obtain a new mining license.

The battery maker has already received regulatory approval for its reserves submission, signaling further progress in the approval process, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)