As the United States strengthens its strategy to break China's dominance over critical mineral supply chains, JESCO Holdings announced on the 6th that it has surpassed a major milestone in exporting nickel ore through the development of a mine in the Philippines.
JESCO Holdings revealed that it held a groundbreaking ceremony for a port dedicated to transporting nickel ore along the Legazpi River in the Dinagat region of the Philippines. Once nickel exports through the port construction are fully underway, JESCO Holdings is expected to become the first domestic success case in overseas mine commercial development.
The newly initiated port, exclusively for mineral transport barges, will be built on the banks of the Legazpi River, located north of the Dinagat mine owned by JESCO Holdings. The port will cover approximately 23,000 to 26,000 square meters (about 8,000 pyeong) and aims for completion by the end of February 2025. This port is notable for its large scale, capable of simultaneously docking and loading six 3,500-ton barges. If six barges operate twice daily, each carrying 3,500 tons, about 42,000 tons of nickel ore can be transported per day.
Additionally, the Legazpi River port is situated about 3 km in a straight line from the Pacific coast port, making the barge route relatively short and facilitating container ship loading. This location is evaluated as a highly advantageous environment for fast transportation and export operations.
Furthermore, with the port construction gaining momentum, JESCO Holdings anticipates rapid progress in supply contract negotiations with domestic and international buyers for ore exports. The company explained that discussions regarding specific distribution volumes and conditions with major domestic secondary battery companies and several overseas clients are in the final stages.
In particular, the Philippine government and related agencies have expressed strong support for JESCO Holdings' port construction and mining development projects, with the first exports expected to begin as early as the first quarter of next year.
A company representative stated, “As the Philippines actively encourages mining development projects, the port construction scale was expanded to three times the original plan at the request of the Philippine government authorities and the MGB (Mines and Geosciences Bureau). The Legazpi River’s depth of 20 to 25 meters and its strong flow have extended the time required for land reclamation and other preparations. Although the schedule is delayed compared to the initial plan, we expect nickel ore exports to accelerate due to government support and the expanded port scale.”
They added, “Key critical minerals like nickel are expected to secure differentiated competitiveness compared to other companies heavily dependent on Chinese firms, especially following the U.S. Foreign Entity of Concern (FEOC) guidance announcement. As our government and the global community pursue diversification of raw material supplies, we plan to establish a stable profit model through the nickel ore development project.”
Meanwhile, the port groundbreaking ceremony held on the banks of the Legazpi River was attended by Philippine government officials, MGB representatives, and the Dinagat regional mayor.
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