J'sco Holdings "Acquired Philippine Mining Development Rights This Year... Aiming for First Shipment Early Next Year"

"We will secure nickel, a key mineral for electric vehicle battery cathode materials, in the Philippines and leap forward as a specialized battery raw material company."

Jaysco Holdings held a press conference on the 2nd in Yeouido, Seoul, introducing the new nickel ore business in the Philippines through investment in EVMDC (EV Mining & Development) shares and future plans.

Hansangmin, CEO of J-Sco Holdings, held a press conference on the 2nd to introduce the new nickel mining business in the Philippines. / Photo by J-Sco Holdings

Han Sang-min, CEO of Jaysco Holdings, stated, "With 60 years of experience in the wire rod sector, Jaysco Holdings will put all efforts into securing future growth engines as well as meaningful external growth and profitability improvement through the new nickel ore business in the Philippines."

Jaysco Holdings entered the nickel ore business by establishing a local subsidiary in the Philippines two months after signing an MOA with the local mining company EVMDC in December last year. In mid-February, they also completed the acquisition of a 10% stake in EVMDC. Recently, they received notification of exploration permit (EP) approval for the nickel mine from the Philippine Mines and Geosciences Bureau (MGB), completing preparations to fully launch the nickel ore business.

Jaysco Holdings plans to apply for an MPSA (Mineral Production Sharing Agreement) for the Surigao del Sur area within the second quarter and aims to complete the acquisition of the MPSA within this year. Through this, they expect to start full-scale mass production as early as the fourth quarter of this year and aim for the first shipment in the first quarter of next year.

Currently, 'resource nationalism,' where resources are used as political and economic hegemony worldwide, is spreading. Jaysco Holdings plans to strengthen its competitiveness through entry into the nickel ore business.

CEO Han said, "Considering the continuous increase in nickel demand, the mining and production of nickel ore, as well as the price rise of intermediate products, we expect that pursuing the local ore business in the Philippines will be a mid- to long-term growth driver for Jaysco Holdings."

He added, "We aim to realize sales in the new nickel ore business sector by the first quarter of next year at the latest. The annual estimated mining volume is about 9.9 million tons, and considering the current nickel ore market price and exchange rates, the expected value is estimated to exceed 1 trillion KRW."

Meanwhile, nickel is a key raw material that increases the charging capacity of secondary batteries for electric vehicles, determining the driving range performance of cars. With the rapid growth of the electric vehicle market, the demand for nickel for secondary batteries is also sharply increasing.

According to energy market research firm SEN Research, global nickel demand for secondary batteries is expected to reach 841,000 tons in 2025 and 2.37 million tons in 2030. This represents a twofold and sixfold increase compared to last year's 385,000 tons, respectively. The nickel market value is estimated at $18.511 billion in 2025 and $71.088 billion in 2030.