Battery and critical metals explorer and developer Pan Asia Metals Limited (PAM) said that senior officials representing Thailand’s Ministry of Industry (MOI) and Department of Primary Industries and Mines (DPIM) recently endorsed PAM’s activities with a visit to the Reung Kiet Lithium Project (RKLP).
PAM received a very positive reception from senior officials who recently visited PAM’s Reung Kiet Lithium Project in southern Thailand. The seniority of the MOI and DPIM representatives confirms the importance placed on PAM’s projects and the role they will play in Thailand’s electric vehicle (EV) and lithium ion battery (LIB) supply chain. Thailand is the 11th largest vehicle producer globally, the fourth largest vehicle producer in Asia and the largest in Southeast Asia, a position that Thailand plans to retain and enhance through the implementation of its progressive electric vehicle policies comprising a suite of tax and non-tax incentives. This is paying dividends with both Thai and foreign companies committing to electric vehicle and battery production in Thailand.
PTT Public Company Limited (PTT), one of Thailand’s largest listed companies, has demonstrated this through Horizon Plus, a joint venture with Hon Hai Technology Group of Taiwan (commonly referred to as Foxconn) to produce EVs using Hon Hai’s EV platform; and PTT’s recent announcement that it has entered into a strategic MoU with CATL to explore battery related businesses in ASEAN with the venture to initially supply the Horizon Plus joint venture with Hon Hai and then explore opportunities in Indonesia and the rest of ASEAN.
PAM, which is the only lithium explorer in ASEAN with advanced exploration and development projects, is very well positioned to benefit from these and other emerging tie-ups in Thailand and the Southeast Asian region.