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Editorial Coverage: The need for nickel for batteries is
driving greater investment in mines in Indonesia.
- Batteries play vital role in modern society, powering
everything from phones to EVs.
- Pacific Rim Cobalt Corp. releases assay results confirming
strong nickel, cobalt mineralization in Cyclops Project.
- As the world’s leading source of nickel, Indonesia is seeing
serious investments.
Pacific Rim Cobalt Corporation (OTCQB: PCRCF) (CSE:
BOLT) (PCRCF
Profile) just announced assay results
from its ongoing 2019 drilling campaign at the Cyclops,
Nickel/Cobalt Project in Indonesia. VALE S.A. (NYSE:
VALE) has also invested heavily in Indonesian nickel
production. Glencore (OTC: GLNCY) both mines
nickel and recycles it from old batteries. Lundin Mining
Corporation (TSX: LUN) (OTC: LUNMF) produces nickel and
its byproducts in four countries. Cobalt 27 Capital
Corporation (TSX.V: KBLT) (OTCQX: CBLLF) has invested in a
nickel mine in Papua New Guinea that, like Indonesia, offers good
access to customers in Chinese industry.
To view an infographic of this editorial, click here.
Nickel in Deficit
Batteries play a vital role in modern society, powering
everything from torches and phones to electric cars. While the role
of cobalt and lithium in these batteries is widely recognized,
nickel is also critically important. The mineral features in a wide
range of batteries, including the majority of electric cars.
Nickel also plays an important part in steel production, which
led to a surge in demand from China a decade and a half ago. At
that time, production efforts increased to meet the demand; today,
the growing importance of nickel in batteries is causing fresh
pressure, along with a supply deficit. This increasing need for
nickel has sparked more investments in nickel-producing regions —
specifically Indonesia, the world’s largest nickel producer.
Drilling Results Confirm Assessment of Cyclops
Project
One of the companies making that kind of investment is
Pacific Rim
Cobalt Corp. (OTCQB: PCRCF) (CSE: BOLT), which has
been been actively involved in a drilling project located on the
northern shore of Indonesia, near China, which boasts the world’s
largest electric vehicle battery market. This week the company
announced results from eight of the first fifteen holes drilled in
the Yapase area of the Cyclops Project. The drilling confirmed the
development of a complete mineralized laterite profile and is
starting to confirm grades and widths that form the basis of the
project’s historical estimate.
“The Cyclops Project was acquired following extensive due
diligence on over 40 projects across Indonesia,” said Pacific Rim
CEO Ranjeet Sundher. “The latest drill results continue to confirm
our initial impression, assessment and observations of the
project’s potential, which is beneficially located in proximity to
the world’s largest buyer of battery metals. We expect the
near-surface nature of cobalt and nickel mineralization at the
Cyclops Project will lend itself well to low-cost, logistically
straightforward drilling. We anticipate the opportunity to
undertake a resource calculation study, as well as ongoing
metallurgy and process option testing, will present itself in the
near future."
Pacific Rim began a 50-hole core drilling program in mid-January
on areas of laterite delineated by a geological mapping and a
hand-augur geochemistry program. A total of 15 holes have been
completed, covering a total of 255 meters, with hole depths ranging
from 13 to 29 meters. Where possible, holes were drilled to fresh
rock in order to intersect the full laterite profile.
The Drive for Clean Energy
The news from Pacific Rim comes as interest in electric vehicles
— and demand for the batteries needed to power them — is gaining
significant momentum. One of the most compelling reasons behind
that increased demand is the desire for clean energy.
As climate change disrupts weather patterns and destabilizes
lives around the world, industrialized countries are starting to
recognize that change as not just an environmental challenge but a
security one. Those countries have responded by implementing
clean-energy and clean-air policies, which are transforming the way
that automobile companies work.
More than 40 automakers are pivoting towards electric vehicles.
While Tesla is grabbing most of the headlines, most recently by
reducing the price on its Model 3 to make electric
cars more widespread, more established car companies are also
getting into the game. It took five years to sell the first million
EVs but just six months to sell
the last million. Hybrid cars are increasingly common, as are
the charging points they need, and all but one of
the major electric vehicle manufacturers use nickel in their
batteries.
This is creating the demand that Pacific Rim is strategically
working to address. As electric cars come to dominate the roads,
the demand for the minerals used in them is set to soar.
Getting Ahead of the Nickel Race
The world’s largest source of nickel production by nation is
Indonesia. The country is rich with sources of the metal, many of
which have yet to be effectively exploited. But this isn’t the only
reason why Indonesia is a natural home for Pacific Rim’s Cyclops
project.
Located on the western rim of the Pacific, Indonesia is well
positioned for exporting to China, the world’s largest consumer of
battery metals. China has seen massive economic development in
recent decades, thanks to the modernizing efforts of the country’s
leaders. While modernization can be hard to balance with
environmental protection, the Chinese leadership are well aware of
the problems caused by environmental degradation, not the least of
which is due to the heavy pollution in major Chinese cities. Those
leaders are therefore encouraging clean alternatives, leading to a
boom in electric car research and development.
Investing in exports to China is a sound strategy for any
company specializing in battery metals. The country not only
produces batteries for its own use but also makes them for export,
thus creating a fresh wave of demand for nickel in a country that
drove a previous nickel boom just after the millennium. This boom
is drawing more companies to Indonesia. By setting up a fresh
nickel and cobalt mining operation within easy reach of China,
Pacific Rim is tapping into both supply and demand, ensuring an
accessible market for its products.
Pacific Rim has positioned itself as an early mover in the race
for Indonesia battery metals. The company has gained 100 percent
control of the 5,000 hectare nickel and cobalt Cyclops Project.
With production and environmental permits secured, the project
benefits from excellent infrastructure, including close proximity
to an eager workforce and supplies, sealed roads, ocean access,
nearby port facility and gentle topography. The existing road
system also enables year-round access to the project and
connections to key nearby cities, including Sentani and
Jayapura.
Digging Deeper for Nickel
As demand rises, several companies are expanding their interest
in nickel.
VALE S.A. (NYSE: VALE) is the world’s largest
nickel manufacturer and, like Pacific Rim, it has made Indonesia an
important part of its mining strategy. The country is one of four
where Vale operates, alongside Brazil, Canada, and New Caledonia.
Vale has spent billions on developing Indonesian nickel production
for export to countries including China. Vale makes a substantial
effort to have a positive impact in the communities where it mines,
with policies designed to mitigate the environmental impact of
mining and to provide social benefits to locals. This is reflected
in the fast moves Vale has made in response to a dam breach at
Brumadinho, where it has poured money into
helping locals affected by the accident and taken steps to protect
the local environment even as it sets to work on
rebuilding.
Glencore (OTC: GLNCY), one of the world’s
largest diversified natural resources companies, is also heavily
invested in mining for battery metals. Assets in Australia, Canada and Europe produce the
company’s supply of nickel, as well as byproduct metals such as
cobalt and copper. In addition to mining nickel, Glencore is one of
the largest recyclers and processors of nickel-bearing products
such as batteries, taking the minerals from discarded goods and
finding ways to reuse them.
A diversified Canadian-based metal company, Lundin
Mining Corporation (TSX: LUN) (OTC: LUNMF) has operations
in Chile, the United States, Portugal and Sweden. Nickel is one of
its leading products, alongside copper and zinc. Good results in
the fourth quarter ensured that the company achieved or exceeded its production targets at all its
operations in 2018, providing plenty of material for use in
batteries and other manufacturing.
A leading nickel and cobalt investment vehicle, Cobalt
27 Capital Corporation (TSX.V: KBLT) (OTCQX: CBLLF) offers
investors a chance to profit off the technologies behind energy
storage and electric vehicles. To this end, it is investing in
nickel production through a mine in
Papua New Guinea. Like Indonesian Papua, Papua New Guinea is
rich in nickel deposits and well located for exports across the
Pacific to China.
Nickel’s central place in battery production, and so in meeting
rising EV sales and building greener technology, should ensure
heavy investment from companies for years to come, in Indonesia and
beyond.
For more information on Pacific Rim Cobalt Corp., visit Pacific Rim
Cobalt Corp. (OTCQB: PCRCF) (CSE: BOLT)
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