JSCO Holdings Completes Acquisition of 10% Stake in EVMD... "Accelerating Nickel Mining Business"

JSCO Holdings announced on the 14th that it has completed the acquisition process of shares in EVMD (EV Mining & Development), a Philippine nickel mining specialist company.

JSCO Holdings secured a 95% stake by investing 4.9 billion KRW through its local subsidiary JSCO PH CORP in the Philippines, and based on this, acquired a 10% stake in EVMD.

Additionally, on the 12th, the company decided to raise funds for additional investment in the nickel mining business. It issued convertible bonds (CB) worth 40 billion KRW to Meritz Securities. The raised funds will be used to pursue an exclusive sales rights contract related to the Philippine nickel mines.

A company representative stated, “We have completed the scheduled acquisition of shares in the subsidiary and EVMD, and finalized all preparations for advancing the Philippine nickel mining business through large-scale fundraising. Based on the secured funds, once the exclusive sales rights contract is completed, we expect not only dividend income from shares but also additional sales from the exclusive sales rights.”

He added, “In particular, upon signing the exclusive sales rights contract, a certain percentage of sales revenue from nickel ore sales will be guaranteed as operating profit, and due to the nature of the business with no fixed costs, high operating profit is expected. We also plan to proceed as scheduled with the application for the MPSA (Mineral Production Sharing Agreement) for the first 1,058 hectares of the Philippine nickel mining site and the exploration permit (EP) approval process for the second 3,434 hectares.”

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