Pan Asia Metals lithium projects receive support from Thailand’s investment board
Pan Asia Metals says Thailand’s BOI is interested in the company’s plans to produce lithium chemicals for use in CAM manufacturing.
Battery and critical metals explorer and developer Pan Asia Metals (ASX: PAM) has reported a positive response from initial meetings with Thailand’s Office of the Board of Investment (BOI) regarding the importance of critical minerals to the local economy.
Discussions covered the country’s recently-approved mining policy as well as developments in the lithium-ion battery industry and electric vehicle supply chain.
The BOI advised it would support mining projects geared toward delivering value-added metals into Thailand’s identified S-curve industries including aerospace, alternative energy, next-gen automotive and automation and robotics.
These include Pan Asia’s Reung Kiet and Kata Thong lithium projects as well as several lithium plus tin, tungsten and kaolin areas that the company currently has in negotiations.
Uniquely positioned
Managing director Paul Lock said Pan Asia is “uniquely positioned” to take advantage of the BOI’s support as the only lithium explorer in South East Asia.
“We are the only battery and critical metals explorer of substance with a long and successful track record in Thailand, as well as a deep knowledge of the region’s geology and opportunities,” he said.
“The BOI’s positive reception to our projects is an endorsement of our activities and objectives.”
Mr Lock said the BOI was particularly interested in the company’s plans to produce lithium chemicals for use in cathode active material (CAM) manufacturing in Thailand.
The two parties discussed incentives for exploration and mining activities as well as lithium chemical and CAM manufacturing.
New mining policy
Thailand’s new mining policy aims to reduce the country’s reliance on imported metals by building stability and security in the minerals supply chain.
It seeks to encourage the development of mining and downstream industries through investment promotion measures including suitable benefits to encourage mineral exploration, mining and mineral dressing, and smelting or metallurgy.
The policy represents a move by the Thai government to secure the supply chains critical to industrial growth plans underwritten by the Thailand 4.0 advanced technology and Eastern Economic Corridor initiatives.