Jaysco Holdings announced on May 30 that it will conduct an on-site due diligence of a nickel mine in the Philippines together with Pacific Infinity Resources Limited (PIRL), a Hong Kong-based resource development company.
PIRL has already been carrying out nickel ore excavation and transportation projects for over 10 years in the Palhi region of Dinagat Island, Philippines, through an exclusive contract with a major mining operator. This is expected to accelerate Jaysco Holdings' nickel ore supply.
Jaysco Holdings previously signed a memorandum of understanding (MOU) with PIRL on May 20 for the annual supply of 2 million tons of nickel ore.
The two companies plan to visit the local nickel mine in the Philippines with industry officials for about a week starting June 9 to review comprehensive business development strategies.
Since last year, China has reportedly been stockpiling major raw materials such as grain, metals, and energy in preparation for the possible re-election of President Trump. The company explained that these ongoing activities have led to the signing of the recent MOU and the commencement of due diligence with Jaysco Holdings. PIRL is responsible for supplying global raw materials, distributing them to clients in China through Hong Kong.
A company official stated, "As we are in close discussions with several related companies including PIRL, we expect to achieve meaningful results such as the first shipment as early as June," adding, "With the completion of port construction and other finishing touches, the export of nickel ore is expected to begin in earnest starting with this due diligence."
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