NetworkNewsWire Editorial Coverage: As the electric vehicle market sees impressive growth, the demand for nickel is also rising. Indonesia, which boasts 25% of the world’s nickel resources, is looking for ways to profit from the valuable base metal.
As Indonesia benefits from the growing market, so do the companies involved in the production of nickel, including Pacific Rim Cobalt Corp. (CSE: BOLT) (OTCQB: PCRCF) (XFRA: NXFE) (PCRCF Profile). Pacific Rim Cobalt has established a bold expansion plan following a successful exploration and development season in Indonesia last year. Other companies with interest in nickel production include BHP Group (NYSE: BHP), which is expanding its nickel business and has plans to ramp up sales for the fast-growing electric vehicle (EV) sector, and Vale S.A. (NYSE: VALE), which is planning to increase production of the metal by an estimated 70% in coming years, primarily through expansion in Indonesia. One of the world’s largest diversified natural resource companies, Glencore (OTC: GLNCY) is also deeply interested and invested in mining for battery metals. A major copper producer, Freeport-McMoRan Inc. (NYSE: FCX) is also looking to see…
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