- Cyclops Nickel-Cobalt project license fully compliant under updated mining registration process
- National, provincial and local support received for project
- Strategic partner and investor discussions have commenced
- Indonesia is currently the largest nickel producer worldwide
Pacific Rim Cobalt Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE), an Indonesia-based company focused on developing nickel-cobalt opportunities in the Asia-Pacific region, received the approval of the Republic of Indonesia Ombudsman for the registration of the Cyclops Nickel-Cobalt Project license. The project license will be transferred into a foreign investment license, where it will be administered by the central government, according to a company announcement (http://ibn.fm/5v51V).
The Cyclops Project, located in Papua Province, Indonesia, is mining and environmentally permitted with year-round access. In 2019, the company carried out a large-scale exploration and development program at its flagship 5000-hectare, Cyclops Nickel-Cobalt project. Drilling identified significant horizons of nickel mineralization and bench-scale scoping tests yielded positive results for processing of this nickel rich material.
“2019 was a pivotal year for us, and we’re pleased to carry this momentum into 2020. Obtaining approval from Indonesia’s Ombudsman is an important step toward our goal of securing strategic partnerships and participating in Asia’s growing battery metals supply chain,” Ranjeet Sundher, CEO of Pacific Rim Cobalt, stated in a news release.
Pacific Rim Cobalt Corp. is focused on the development of nickel-cobalt projects ideally located close to China, the world’s first and largest “Gigafactory.” Nickel and cobalt are critical components of lithium-ion batteries and are currently in a global supply deficit. Indonesia is currently the largest nickel producer on earth with a mandate to become a global superpower in the international electric vehicle and battery metals supply chain.
The year 2020 will see continued and consistent development in Pacific Rim Cobalt’s strategy as the company continues to set ambitious milestones with the goal of becoming a leading international player in the EV battery metal sector and creating significant long-term shareholder value. This includes preparations to commission and operate the company’s pilot plant in Canada, which will contain an integrated circuit to produce high-purity nickel and cobalt strip solutions to develop battery-grade nickel and cobalt.
For more information, visit the company’s website at www.PacificRimCobalt.com
NOTE TO INVESTORS: The latest news and updates relating to PCRCF are available in the company’s newsroom at http://ibn.fm/PCRCF
