- 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
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