JSCO Holdings, a specialized company in wire rod and high-grade steel manufacturing (CEO Han Sang-min), announced on the 20th that it signed a joint investment agreement last year with the local Philippine nickel mining company EV Mining & Development (EVMDC), established a local subsidiary JSCO PH, and will conduct a shareholder visit about 14 months later.
The company plans to build trust with shareholders and potential investors by having its local partner EVMDC, which is nearing completion of local infrastructure for nickel mining, disclose the progress of local construction to shareholders. The mine, located on Dinagat Island at the northeastern tip of Mindanao Island in southern Philippines, is considered the most suitable site for maritime trade in the Philippines.
A company official stated, “We will vividly show the business site, which spans 2,700 hectares (10 times the size of Yeouido), along with reserves, mining volume, sales scale, and progress to date, and after the mine tour, we will explain the company’s new business vision, understanding of overseas business, and future plans.”
Meanwhile, nickel is used as the main raw material for stainless steel. Nickel castings have good thermal conductivity and high strength, making them used in airplanes and aviation, and recently, they have been used as a core material for secondary batteries, increasing demand and interest. According to the London Metal Exchange (LME), Indonesia is the world’s largest nickel producer, followed by the Philippines in second place. Currently, Indonesia has banned the export of raw nickel materials, which has spotlighted the export of raw nickel materials from the Philippines. Last year, South Korea also selected nickel as one of its top 10 key minerals.
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