Pacific Rim Cobalt Corp. is a Canadian-based exploration company focused on the acquisition and development of production grade cobalt deposits, a key raw material input for the growing lithium-ion battery industry.
Leading the way in cobalt consumption is China, a powerhouse that is on-track to use over 8,000 tonnes of Cobalt annually by 2021 – just for electric vehicle (EV) production alone. With an aggressive program underway to dramatically increase EV production and the growing adoption of Lithium-Ion batteries for an ever-broader list of applications, the country currently is the largest consumer of cobalt in the world and is projected to lead that category for many years to come.
While much of the world’s supply of cobalt is located in the Democratic Republic of Congo (DRC), that nation has a well-documented and problematic history of political and economic instability, ethical concerns regarding child labour, and further suffers from periodic near-pandemic health issues. The DRC is also a significant distance from any of the world’s major consumers of cobalt, with significant cost factors inherent in managing a supply chain subject to periodic interruptions.
Pacific Rim Cobalt is seizing the opportunity of this unprecedented demand for cobalt, and has concluded that strategic access to major markets offers the most important factor to servicing the demand for this critical metal. As such, the Company identified and acquired initial assets in Indonesia offering near surface, strong nickel-cobalt mineralization and located adjacent to established infrastructure. Of critical importance is that the project is located well within economically attractive ocean going transportation range to industrial Asia, the largest cobalt markets on the planet.
The Company intends to continue exploration across prospective areas of interest throughout the region in order to build on its initial asset base and to grow a cobalt portfolio as a strategy to create shareholder value.
$PCRCF
