PAM is a battery and critical metals explorer and developer focused on identifying and developing projects in Asia and elsewhere that have the potential to position the Company to produce metal compounds and other value-added products that are in high demand. PAM focuses on opportunities which have the potential to be placed in the first tercile of their respective cost curves, placement being a function of minerology, cost environment, proximity of required inputs and distance to market.
The three key underlying factors to PAM’s strategy in Southeast Asia are: i. the region’s growth prospects; ii. the region’s low-cost environment; and iii. aligning with the right knowledge partners. The population of South and Southeast Asia is greater than 2 billion, with over 500 million in the middle class and many more aspiring to the middle class. Further, Southeast Asia has one of the youngest populations in the world; and in several Southeast Asian countries there are well established hi-tech industrial and manufacturing centres, making it one the highest growth and lowest cost regions globally.
Thailand is the largest auto producer in Southeast Asia and the 4th largest in East Asia. Thailand’s policy settings are aimed at enabling a rapid transition to Electric Vehicle (EV) and Lithium Ion Battery (LIB) production. Representative of this policy setting, Mercedes recently commenced production of its flagship EQS EV in Thailand.
Singapore, Vietnam, Indonesia, Malaysia and India are also aggressively pursuing EV and LIB initiatives. These six countries render the region one of the most strategic EV-LIB manufacturing ecosystems globally. This dynamic presents excellent opportunities for growth and PAM is positioning itself to be a leading battery metals and chemical supplier in the region.
PAM’s primary objective is the development of the Reung Kiet Lithium Project (Reung Kiet) located in Southern Thailand, for which PAM aims to define a Mineral Resource sufficient to initially produce 10,000t per annum of either lithium carbonate or lithium hydroxide. Complementing Reung Kiet is PAM’s Kata Thong Lithium Project located 30km to the north, which is under application. Further, PAM is pursuing additional valueadding opportunities for these projects, such as the production of Cathode Active Materials (CAM). This would likely be via an alliance or arrangement with a knowledge partner.
PAM is also assessing standalone midstream opportunities, for example lithium chemical conversion to manufacture lithium carbonate or lithium hydroxide. The execution of such initiatives would also be achieved through alliances with knowledge partners. To this end PAM has been exploring a midstream initiative with chemical manufacturers and has also opened discussions with relevant Government bodies in several Asian countries. Success could see PAM positioned as a leader in the supply of battery metals and chemicals in the region.