JSCO Holdings announced on the 16th that the approval process for the exploration permit (EP) for the second phase of the nickel mine in the Philippines, covering 3,434 hectares (ha), is progressing smoothly.
JSCO Holdings is currently selecting a company to carry out drilling operations, expecting the second phase EP approval to be completed by the end of next month.
Once the EP approval is finalized, drilling will be conducted for about 1 to 2 weeks in the first phase (1,058 ha) and second phase (3,434 ha) areas, and an exploration report will be received. At the same time, the company plans to proceed with the exclusive sales contract for the mined nickel and enter the final procedure for mining, which is obtaining the MPSA (Mineral Production Sharing Agreement).
JSCO Holdings is exploring various measures to reduce costs and increase productivity in the nickel ore business. The distance from the nickel mine to the port location for loading ore onto barges is approximately 10 km, and it is expected that one truck can operate about five times a day. The company is also considering utilizing ports currently used by other companies to reduce travel distance and transportation costs, thereby increasing productivity.
A company representative stated, “We are actively working locally in the Philippines aiming for drilling operations by the drilling company at the end of June. After receiving the exploration report, we will proceed smoothly with the MPSA acquisition process as well as the exclusive sales contract, aiming to start the first mining operation early next year.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
