JSCO Holdings Begins On-Site Due Diligence of Philippine Nickel Mine with China Baoli Energy

JSCO Holdings announced on the 25th that it will conduct on-site due diligence of a nickel mine in the Philippines in collaboration with China Poly Group.

To this end, JSCO Holdings also signed a Non-Disclosure Agreement (NDA) with China Poly Energy, which is responsible for the actual mineral and energy business within China Poly Group. The on-site due diligence is scheduled to take place over three days from the 25th to the 27th.

In particular, not only representatives from China Poly Group but also officials from Pan World Group, a logistics company designated by China Poly Energy, will attend to comprehensively review the nickel reserves, mining volume, productivity, and logistics infrastructure of the 2,700-hectare Dinagat mine in the Philippines.

According to the company, given China Poly Group’s high demand to expand nickel stockpiles, it is expected that following the signing of the MOU (Memorandum of Understanding) and NDA, the main contract will also proceed swiftly. The supply volume is 2.4 million tons of nickel annually according to the MOU, with prospects for future expansion.

Recently, China announced plans to strengthen its supply system by designating key minerals such as nickel, cobalt, lithium, and copper as strategic reserve metals. The expansion of strategic reserves is analyzed as a measure to balance supply and demand or stabilize prices during crisis situations. The National Grain and Material Reserve Administration of China is planning to purchase cobalt, copper, nickel, lithium, and other metals, and it is reported that after recent price inquiries, some metals have been put up for bidding.

A company official stated, “As China’s demand for energy transition grows significantly and geopolitical tensions escalate, it is moving swiftly to expand the supply chain of key minerals. This is leading to inquiries about JSCO Holdings’ nickel ore supply, and we will solidify our position in the Chinese nickel supply market by signing the main contract.”