J's Co Holdings Secures Exclusive Sales Rights for Philippine Nickel Ore... Full Payment Completed to EVMDC

JSCO Holdings announced on the 31st that it has signed an exclusive sales rights contract for nickel ore with its local Philippine partner EVMDC (EV Mining & Development). Furthermore, the company has fully paid the amount related to acquiring the sales rights, securing complete exclusive status.

The exclusive sales rights acquired this time pertain to 900 hectares of nickel ore in Zone D, the first area where drilling operations were conducted within the Dinagat mine, which spans a total of 2,700 hectares. According to the reserve analysis report, Zone D is estimated to contain over 100 million tons of nickel. If 10 million tons of nickel ore are mined annually, stable supply of nickel ore is expected for more than 10 years.

In particular, Zone D, along with Zones B and C each covering 900 hectares within the Dinagat mine, has geographical advantages such as proximity to rivers and the sea, facilitating convenience in stockyards and shipment site transfers.

A company official stated, “To secure the exclusive sales rights, we proceeded with initial feasibility reviews, legal consultations, contract drafting, and verification with advice from the domestic law firm Barun and the Philippine mining-specialized law firm CRUZ MARCELO & TENEFRANCIA,” adding, “Legally, we have been guaranteed complete exclusive sales status.” He further explained, “With the acquisition of exclusive sales rights for 900 hectares of nickel ore, which is three times the size of Yeouido, the ore development project is expected to accelerate.”

JSCO Holdings is currently awaiting the receipt of the complete assay laboratory analysis report for a total of approximately 443 drillings being conducted with the global testing and inspection agency Intertek. Depending on the final report, the company plans to sequentially acquire exclusive sales rights for the remaining Zones B and C.

Additionally, preparations for nickel ore mining are being accelerated, including the construction of various facilities near the mine such as a single port, stockyards, fuel storage, and on-site offices. Starting next year, two ports around the mine will be opened to export 10 million tons of ore annually.

A company representative said, “Once ore mining begins as scheduled early next year, margins and dividend profits from the exclusive sales rights contract will be generated,” adding, “Considering that the current international nickel ore price with a purity of 1.3% to 1.5% exceeds an average of $100 per ton, and according to JSCO’s Dinagat mine composition analysis, a large amount of high-purity nickel ore with over 2.9% purity is distributed, significant growth in scale and maximization of profitability are expected.”