[Special Stock] JESCO Holdings Gains Spotlight on Mining Rights Amid Nickel Price Surge↑

[Asia Economy Reporter Jang Hyowon] JESCO Holdings is showing strong performance. This is interpreted as highlighting the recent surge in nickel prices and the securing of mining rights for a nickel mine in the Philippines.

As of 11:57 AM on the 13th, JESCO Holdings is trading at 2,750 KRW, up 9.34% compared to the previous day.

According to the Korea Mine Reclamation Corporation, on the 8th, the price of nickel surpassed $30,000 per ton for the first time in seven months since May, reaching $31,075 per ton. Since recording $26,950 per ton on the 1st, nickel prices have continued to rise sharply. Nickel is the main raw material that determines the performance of cathode materials, a key component of electric vehicle batteries. Accordingly, demand is steadily increasing.

On the 8th, JESCO Holdings announced that it had signed a comprehensive Memorandum of Agreement (MOA) with the Philippine nickel mining company 'EV Mining & Development (EVM)' regarding mining rights, equity acquisition, and sales rights for nickel ore.

According to the company, EVM's nickel mine contains ore with a grade of 0.9?2.0%, with an estimated extractable reserve of approximately 500 million tons, and is authorized to maintain mining rights for the next 75 years. Nearby mines such as the Taganito mine extract and export 10 million tons of ore annually, with an export price of about $100 per ton. Once EVM's mine begins full-scale ore production, annual sales are expected to be around $1 billion (approximately 1.3 trillion KRW).

This content was produced with the assistance of AI translation services.