J'sco Holdings Signs MOA with Chinese State-Owned Enterprise... "Annual Nickel Supply of 1.2 Million Tons"

(Left) Feng Ying, Vice President of China Chengtong International (Right) Han Sang-min, CEO of J-Sco Holdings. Provided by J-Sco Holdings.

JSCO Holdings announced on the 8th that it has signed a Memorandum of Agreement (MOA) with China National Enterprise China Chengtong International for the supply of nickel and iron ore.

Based on this MOA, JSCO Holdings plans to supply 1.2 million tons of nickel and 500,000 tons of iron ore once the final contract is completed. Since MOAs are typically signed during the stage of negotiating details before the final contract, the final agreement is expected to be finalized soon without issues.

China Chengtong Group is one of the five major state-owned enterprises in China, established in 1992 through the merger of material distribution companies under the Ministry of Materials. It plays a key role as a core distribution channel in China, responsible for securing, allocating, storing, and distributing major production materials across various industries such as steel, energy, nuclear power, and automotive. The group continuously strives to build import-export and distribution platforms through state-owned capital investments. China Chengtong International is a company under China Chengtong Group.

The company explained that the signing of this MOA reflects China Chengtong International’s recognition of the market competitiveness of the Philippine mines owned by JSCO Holdings and its judgment that it is possible to expand China’s raw material distribution network.

JSCO Holdings is accelerating the construction of a port for transporting nickel ore barges in the Philippines. The large-scale port can simultaneously berth and load six 3,500-ton barges, enabling the transport of approximately 42,000 tons of nickel ore per day. The port is scheduled to be completed in February, after which the first export will commence.

A company official stated, “As we are finalizing the last details through this MOA, we expect to sign the first supply contract soon. Currently, active discussions regarding nickel ore exports are underway not only with China Chengtong International but also with major domestic secondary battery companies and overseas clients, so we anticipate additional supply contracts this year.”

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