Skip to main content

NetworkNewsBreaks – Bolt Metals Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE) Eyes Opportunity Amidst Increased Investment into Indonesia’s Battery Metals Supply Chain

Bolt Metals Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE), an Indonesia-based company focused on developing battery mineral projects in the Asia‐Pacific region, today noted reporting by the Financial Times that Huayou Cobalt (“Huayou”), “China’s top cobalt producer halts buying from Congo miners.” The Democratic Republic of Congo (the “DRC”) has been widely reported to represent 60% of global cobalt production. Huayou, which supplies cobalt to battery makers LG Chem of South Korea and CATL of China, as well as Chinese carmaker BYD and Germany’s Volkswagen, is the latest conglomerate to exit the DRC, joining Apple, Google and several auto manufacturers. According to the update, Huayou is looking to raise $870m in an effort to expand nickel and cobalt sulphate production in Indonesia, with its Morowali Industrial Park plant expected to produce at least 60,000 tonnes of annual nickel content within two years. “Cobalt remains an important ingredient in battery chemistries, and international markets are increasingly demanding conflict-free sources for the metal,” Bolt Metals CEO Ranjeet Sundher stated in the news release. “Bolt Metals believes Indonesia represents a unique opportunity to exploit cobalt as a byproduct of the country’s abundant nickel resources. Our flagship Cyclops nickel-cobalt asset has demonstrated strong results from 2018-19 drilling and benchmark analysis, providing an essential foundation for the eventual development of a pilot plant.”

To view the full press release, visit http://nnw.fm/xfaU1

About Bolt Metals Corp. 

BOLT Metals is a Canadian‐based exploration company focused on the acquisition and development of production grade nickel and cobalt deposits, key raw material inputs for the growing lithium‐ion battery industry. For more information, visit the company’s website at www.BoltMetals.com.

NOTE TO INVESTORS: The latest news and updates relating to PCRCF are available in the company’s newsroom at http://nnw.fm/PCRCF

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

NetworkNewsWire is part of the InvestorBrandNetwork.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.