Investing.com -- Chinese battery manufacturer CATL signed a memorandum of understanding with Rio Tinto on Thursday to strengthen cooperation in electrification, supply chains and commercial initiatives, according to a statement on CATL's Chinese social media account.

The two companies will concentrate on advancing the electrification of mining operations and examining battery material recycling and the circular development of key mineral resources.

CATL will use its capabilities in battery technology, system integration, and new energy solutions to assist Rio Tinto in improving efficiency and reducing emissions.