Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Increasing Demand for Electric Vehicles Fueling Significant Growth in Battery Mineral Industry

NetworkNewsWire Editorial Coverage


News provided by

NetworkNewsWire

05 Mar, 2020, 13:30 GMT

Share this article

Share toX

Share this article

Share toX

NEW YORK, March 5, 2020 /PRNewswire/ -- The impressive increase of electric vehicles (EV) is creating a significant increase in demand battery minerals, a demand that is fueling growth for mining companies, especially for those with operations in Indonesia, one of the world's top producers of battery minerals.

Bolt Metals Corporation (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE) (BOLT Profile), one of the companies working in Indonesia, recently announced a name change as it evolves into a leading resource developer in this growing market. Several leading auto makers are contributing to the surging EV market as they focus on manufacturing quality electric vehicles. For the third year in a row, Honda Motor Company Ltd. (NYSE:HMC) has earned the Kelley Blue Book Plug-In Hybrid Car Best Buy with its Honda Clarity model. Tesla Inc. (NASDAQ:TSLA) has seen impressive success with its Tesla Model 3, which is one of the best-selling cars in Europe. Toyota Motor Corporation (NYSE:TM) just announced plans to build a new electric vehicle plant in China. And Toyota is partnering with Panasonic Corp ADR (OTC:PCRFY) to establish Prime Planet Energy & Solutions, Inc., a joint venture specializing in automotive prismatic batteries.

  • Growth of EV industry expected to create two- or three-fold increases in demand for battery minerals over the next decade.
  • Home to 25% of the world's nickel resources, Indonesia is essential source of key minerals.
  • China leads world EV-battery production; critical market for battery minerals.
  • Indonesia recognizes opportunity, focused on developing own EV industry.

To view an infographic of this editorial, click here.

Electric Vehicles Drive Battery Metal Market

The last decade saw significant trends in technology; some of the most significant interest and growth was focused on the EV industry. Once a pipe dream of green technologists, electric vehicles enjoyed tremendous growth in the past decade. By 2018, global EV sales had reached 2 million units, and that number is expected to double to 4 million in 2020. In addition, the once-lofty price of these vehicles is falling, and their battery packs could be cheaper than equivalent combustion-engine models as early as 2022.

This momentum is causing huge growth in the market for the metals used in EV batteries. Industry experts predict that the EV market will need around 1.3 million tons of nickel each year by 2030, compared with 600,000 tons in 2018. Cobalt is facing a similar rise in demand, with experts predicting a 332% increase in global supply from its 2017 levels, to 314,000 tons per annum.

Changing Brands for a Changing Market

This growing market is driving changes in companies working in the industry, a movement reflected by the evolving strategies of business-savvy companies such as Bolt Metals Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE). Formerly Pacific Rim Cobalt Corp., Bolt Metals has rebranded itself as part of their strategy to leverage opportunities in the rapidly expanding EV supply chain, particularly in the Asia-Pacific region.

 "Rebranding the company is an important step in our emergence as a resource developer in Asia's expanding electric vehicle supply chain," said Bolt Metals CEO Ranjeet Sundher. "The company remains focused on acquiring and developing production-grade, battery-metal projects within the Asia Pacific region, while employing a vertically integrated 'mineral‐to‐market' strategy to leverage these assets to their fullest."

Bolt Metals has been transitioning from its initial position as a cobalt producer and moving into a broader position as a battery-cathode material supplier. BOLT's Cyclops project in northern Indonesia, a rich source of cobalt and nickel, plays a significant part in this transition.

But it's the projects location and favorable characteristics such as strong infrastructure and proximity to a skilled workforce that creates potential for the Cyclops project and a reflection of bigger changes in the EV market.

Indonesia: The New Electric Vehicle Hub?

Indonesia boasts a rich supply of the mineral resources that the EV industry needs. The country provides 25% of the world's nickel reserves as well as other metals such as cobalt. These are crucial metals in the production of EV batteries and, therefore, in the entire supply chain for these vehicles.

Bolt Metals' Cyclops operation is designed to tap into these valuable resources. Throughout 2019, the company has been involved in surveys and test drilling, in addition to assessing existing records on the mineral resources at a site in Papua Province, on the north coast of Indonesia. This concentrated research has confirmed the presence of significant high-grade material near ground surface at the site. As Bolt Metals moves forward with plans for extraction, testing and processing, the company does so secure in the knowledge that the minerals are not only present but easily accessible.

The richness of Indonesia's mineral deposits isn't the only reason for the country's growing prominence in the EV supply chain. Indonesia's location on the rim of the Pacific gives the country a straight nautical transport route to Japan, a major player in developing new technology, and China. China is developing its own battery industry, focused on becoming a leader in the production of power cells to be used in all sorts of products. Both countries represent significant markets for EV minerals, markets to which Indonesia can easily cater because of its favorable geographic location.

The Indonesian government is leveraging its advantages as it actively works to strengthen its EV industry. Last year, Indonesian president Joko Widodo signed a decree outlining the government's support for Indonesian EV production. The plan includes reduced tariffs for companies importing equipment for EV production, thereby making it easier for the industry to grow. New regulations are creating a profitable space for companies such as Bolt Metals.

Feeding the Chinese Battery Market

While domestic EV plays a critical part in Indonesia's strategy, the country is still open and welcoming to other markets. In fact, several major Chinese companies are following a similar path to Bolt Metals, investing in the Indonesian mineral industry to ensure the supplies they need for battery production.

The significance of China in the global battery market cannot be overstated. According to research by Benchmark Mineral Intelligence, 88 out of 115 lithium-ion-battery megafactories around the world are located in China. The country has carefully positioned itself as the center of the global technology supply chain. Previously China's power has been most obvious in consumer electronics, but it is becoming increasingly evident that the country is playing an important role in the rise of EV, as reflected in deals such as the that between Tesla and Chinese battery maker Contemporary Amperex Technology Co Ltd.

For companies operating in Indonesia, such as Bolt Metals, this represents a double opportunity. First, companies can become involved in the foundation of an integrated EV sector within Indonesia, in which minerals can be delivered quickly and easily to a fast-growing market. Second, companies can become involved in exporting to China, perhaps the largest market for these minerals in the world.

With rich mineral deposits and two substantial markets, Bolt Metals is anticipating a bright future.

A Critical Industry

The burgeoning EV industry is at the center of this bright future, with the top auto makers around the world rising to the challenge of producing high-quality, eco-friendly vehicles.

Honda Motor Company Ltd.'s (NYSE: HMC) Honda Clarity has been available for three years — and has earned the Kelley Blue Book Plug-in Hybrid Car Best Buy all three years. "Launched new for the 2018 model year, the Honda Clarity is offered in three very distinct variants: pure electric, fuel cell, and PHEV," Kelley noted when announcing the honor. "While this jack-of-all-trades assortment of powertrains may sound like Honda has made compromises, just the opposite is true — the Clarity was engineered as a clean-sheet design with each of those unique models in mind. As a result, driving dynamics are excellent, cargo space and interior utility impressive, and passenger concessions are few and far between."

Tesla Inc. (NASDAQ: TSLA) has seen impressive success with its Tesla Model 3, which is one of the best-selling cars in Europe. "Until recently European auto executives regarded Tesla with something like bemusement," a recent "New York Times" article reported. "The electric car upstart from California was burning cash, struggling with production problems, and hedge funds were betting it would fail. The car executives are not laughing anymore. Almost overnight, the Tesla Model 3 has become one of the best-selling cars in Europe. In December, only the Volkswagen Golf and Renault Clio sold more, according to data compiled by JATO Dynamics, a market research firm."

Recognizing the EV wave of the future, Toyota Motor Corporation (NYSE: TM) recently announced plans to partner with First Automobile Works (FAW) to build an electric vehicle plant in Tianjin, China. The two companies will invest about $1.22 billion in the plant, which is expected to produce 200,000 battery-only, plug-in hybrid and fuel-cell vehicles annually. This news follows the launch of care maker's C-HR and IZOA models, the first battery-electric vehicles to launch in China under the Toyota brand.

Toyota is also partnering with Panasonic Corp ADR (OTC: PCRFY) to establish Prime Planet Energy & Solutions Inc., a joint venture specializing in automotive prismatic batteries. The joint venture will focus on developing highly competitive, cost-effective batteries that offer excellent quality and performance in terms of capacity, output and durability. The joint venture will supply batteries not only to Toyota but also to all customers.

With the demand for electric vehicles increasing significantly, mineral producers are seizing the opportunities found in a growing battery industry.

For more information about Bolt Metals Corporation, please visit Bolt Metals Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE).

About NetworkNewsWire

NetworkNewsWire ("NNW") is a financial news and content distribution company, one of 40+ brands within the InvestorBrandNetwork ("IBN"), that provides: (1) access to a network of wire solutions via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization 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 comprising investors, consumers, journalists and the general public. 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 is part of the InvestorBrandNetwork

DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.

NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.

Corporate Communications Contact:

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com 
+1-212-418-1217 Office
Editor@NetworkNewsWire.com   

Media Contact:

FN Media Group, LLC
NNW@FinancialNewsMedia.com 
+1-(954)345-0611

Modal title

Also from this source

Near-Term Production Assets Gain Traction amid Historic Gold Price Surge

Near-Term Production Assets Gain Traction amid Historic Gold Price Surge

Gold's remarkable surge — driven by an unstable U.S. fiscal policy and rising inflation — has propelled prices beyond the historic US$3,300 per ounce ...

From Exploration to Execution: New Gold Player Emerges in One of Canada's Premier Mining Districts

From Exploration to Execution: New Gold Player Emerges in One of Canada's Premier Mining Districts

Gold's meteoric rally, fueled by waning confidence in U.S. fiscal policy and soaring inflation, has not only pushed prices past the historic US$3,300 ...

More Releases From This Source

Explore

Electrical Utilities

Electrical Utilities

Utilities

Utilities

Mining

Mining

Mining

Mining

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.