South Korea's Jsco Holdings has signed a memorandum of agreement (MOA) with China Chengtong International, a subsidiary of China Chengtong Holdings Group, to supply 1.2 million tons of nickel and 500,000 tons of iron ore. The final contract was expected to be inked soon.

China Chengtong Holdings Group, a Chinese state-owned investment holding company, focuses on securing and managing essential materials for industries like steel and energy. The partnership highlights the competitiveness of Jsco's mining operations in the Philippines, seen as key to improve China’s raw material supply chain.

Jsco is also speeding up the construction of a major barge port in the Philippines to ship up to 42,000 tons of nickel ore daily, accommodating up to six 3,500-ton barges at a time.