J's Co Holdings Signs Exclusive Sales Rights Contract for Dinagat Mine B·C Zones with EVMDC

From the left, Martin Sison, CEO of EVMDC, and Hansangmin, CEO of J-Sco Holdings. Provided by J-Sco Holdings

JSCO Holdings announced on the 4th that it has signed an exclusive nickel ore sales contract with its local Philippine partner EVMDC (EV Mining & Development) for the Dinagat B and C mining zones in the Philippines.

Through this contract, JSCO Holdings has secured exclusive sales rights for the entire 2,700-hectare Dinagat nickel mine, which is expected to accelerate nickel ore exports.

Currently, all infrastructure construction for mining has been completed. Some finishing works are underway, and the pier construction is also in its final stages. The formal contract for nickel ore sales is expected to be finalized this month, with shipments under the sales contract anticipated to begin in April.

JSCO has started mining from Zone D, which holds a geographical advantage for mine development. Demand for nickel, a key mineral in advanced industries such as secondary batteries and semiconductors, is increasing. This is expected to benefit from the diversification of the global nickel supply chain in the future.

JSCO’s Dinagat nickel mine is a large-scale mine covering a total of 2,700 hectares, divided into three zones B, C, and D, each 900 hectares. In January 2023, JSCO acquired a 10% stake in its Philippine partner EVMDC for 5 billion KRW, entering the nickel mine development business. At that time, both parties agreed to sign an exclusive sales contract for the entire 2,700-hectare Dinagat mine in the Philippines for a total of 25 billion KRW. Accordingly, the contract for Zone D was completed in October 2023, and with the recent contract for Zones B and C, the rights have been clearly established.

A JSCO Holdings official stated, “The total payment for the exclusive sales rights has been made to EVMDC, the Philippine partner, in installments according to milestones, and JSCO Holdings has continuously paid the rights fees in installments. With the signing of the exclusive sales contract for Zones B and C, all rights have now been clearly confirmed.”

He added, “Mining is currently underway starting from Zone D, which has a geographical advantage adjacent to the coastline. Once the formal nickel sales contract is completed this month and shipments begin, sales and operating profits from the exclusive sales rights contract are expected to be generated.”

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