Indonesia Reports Construction of at Least Five Factories to Produce Battery-Grade Nickel Chemicals for Electric Vehicles - Seite 2

There are at least five of these plants being built in Indonesia currently as the government seeks to use its nickel resources to create an integrated industry, including production of nickel chemicals used in car batteries and the building of electronic vehicles.

Spending on new nickel processing plants in Indonesia is expected to total US$20 billion by 2024, supported by the Indonesian government’s determination to create a world-leading EV supply chain. 

This commitment extends to the very top of government, with Joko Widodo – Indonesia’s President – stating in September 2019 that “for nickel, we want raw materials to be processed in Indonesia. We want added values.” This supports previous pronouncements from key officials, including Indonesian Maritime Minister, Luhut Pandjaitan who remarked that Indonesia will “become the main player in lithium batteries” and that it will “control the world market.”

The country, which is the world's top nickel ore exporter, has stopped export of unprocessed nickel ore to support this plan.

Two of the plants, representing a combined investment of $2.3 billion, are expected to be built in Morowali by China's Zhejiang Huayou (603799.SS) and partners and by Chinese battery firm GEM Co Ltd (002340.SZ), Tsingshan Holding Group and partners.

National Instrument 43-101 Disclosure

The technical content of this news release has been reviewed and approved by Mr. Garry Clark, PGeo, independent director of Pacific Rim Cobalt and a Qualified Person as defined by National Instrument 43-101.

About Pacific Rim Cobalt

Pacific Rim Cobalt is a Canadian-based exploration company focused on the acquisition and development of production grade nickel-cobalt deposits, key raw material inputs for the growing lithium-ion battery industry.

Pacific Rim Cobalt Corp.

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