Indonesia Reports Construction of at Least Five Factories to Produce Battery‐Grade Nickel Chemicals for Electric Vehicles Priority is use of in‐Country Nickel Resources
*Reuters, January 8, 2020
Indonesia Reports Construction of at Least Five Factories to Produce Battery‐Grade Nickel
Chemicals for Electric Vehicles
Priority is use of in‐Country Nickel Resources
Vancouver, B.C. – January 14, 2020 – Pacific Rim Cobalt Corp. (the “Company” or “Pacific Rim
Cobalt”) (CSE: BOLT) (OTCQB: PCRCF) (FRANKFURT: NXFE), an Indonesia‐based company focused on
developing nickel‐cobalt opportunities in the Asia‐Pacific region, is pleased to report that Indonesia
has approved environmental impact studies for factories to produce battery‐grade nickel chemicals in
Morowali, Coordinating Minister of Maritime and Investment Affairs Luhut Pandjaitan said on
Wednesday*.
The approval will allow investors, such as China's stainless steel giant Tsingshan Group, to continue
the construction of their high‐pressure acid leaching plants in Morowali, Central Sulawesi.
Ranjeet Sundher, CEO of Pacific Rim Cobalt said, “Indonesia continues to make significant strategic
decisions and this latest announcement represents an important step in Pacific Rim Cobalt’s efforts to
benefit from Indonesia’s rapid development as a leading market for all stages of the EV supply chain.
With offices in Vancouver, Shanghai and Jakarta, Pacific Rim Cobalt is well positioned to leverage Asia’s
global dominance in the battery manufacturing sector.”
During 2019 the Company carried out an extensive exploration and development program on its
flagship, 5000 hectare Cyclops project, located in Papua Province, Indonesia and achieved successful
Nickel results with its drilling and bench‐scale scoping tests for processing of materials.
o The recovery percentages form the bench‐scale test program are set out below (for further
information, please refer to the Company’s press release of October 28, 2019):
Sample Ni(%) Co(%) Fe(%)
Limonite 99.26 98.82 97.77
Low Iron Transition 99.75 97.03 99.22
Saprolite 99.77 >99.9 99.74
o Selected elevated nickel results are given below from the Company’s shallow drilling program
(for further information, please refer to the Company’s press releases of March 5, April 1, April
23, June 13, June 20 and September 10, 2019):
Intersection Length (metres from
surface) Nickel Percentage Cobalt Percentage
7.0 2.15% 0.03%
4.0 1.96% 0.04%
2.0 2.00% 0.01%
2.0 1.91% 0.05%
Intersection Length (metres from
surface) Nickel Percentage Cobalt Percentage
5.0 1.91% 0.03%
2.0 1.61% 0.26%
6.0 1.78% 0.06%
4.0 1.80% 0.06%
6.0 1.79% 0.05%
6.0 1.76% 0.03%
3.0 1.90% 0.05%
4.0 1.78% 0.06%
5.0 2.24% 0.05%
4.0 1.72% 0.03%
The Company has always maintained that Indonesia is the perfect jurisdiction to take advantage of
the burgeoning EV sector. 2019 has seen the continuation of a number of exciting trends and
developments which lay the foundations for the continued future growth in every vertical of the EV
supply chain. These developments also strengthen Indonesia’s ability to capitalize on its abundant
resources, which includes 25% of global nickel reserves.
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.
Ranjeet Sundher – President and CEO
(604) 922‐8272
Steve Vanry – CFO & Director
(604) 922‐8272
Sean Bromley – Director & Investor Contact
(778) 985‐8934
Reader Advisory
This news release may contain statements which constitute “forward‐looking information” that are
subject to risks and uncertainties. All statements herein, other than statements of historical fact, are
to be considered forward‐looking, including statements regarding the plans, intentions, beliefs and
current expectations of the Company, its directors, or its officers with respect to the future business
activities of the Company and with respect to the results of exploration and prospective plans in
regards to the Cyclops project. The words “may”, “would”, “could”, “will”, “intend”, “plan”,
“anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company,
or its management, are intended to identify such forward‐looking statements. Although the Company
believes the expectations expressed in such forward‐looking information are based on reasonable
assumptions, such information is not a guarantee of future performance and actual results or
developments may differ materially from those contained in forward‐looking information. Information
provided in this document is necessarily summarized and may not contain all available material
information. Although Pacific Rim Cobalt has attempted to identify important factors that could cause
actual results, performance or achievements to differ materially from those contained in the forward‐
looking statements, there can be other factors that cause results, performance or achievements not to
be as anticipated, estimated or intended. Factors that could cause actual results to differ materially
from those in forward‐looking information include, but are not limited to, fluctuations in market prices,
success of the operations of the Company, continued availability of capital and financing and general
economic, market or business conditions. There can be no assurance that such information will prove
to be accurate or that management’s expectations or estimates of future developments, circumstances
or results will materialize. Accordingly, readers should not place undue reliance on forward‐looking
statements. The forward‐looking statements in this news release are made as of the date of this news
release, and the Company does not assume any obligation to update any forward‐looking information
except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of
Canada accepts responsibility for the adequacy or accuracy of this release.