The 21-year-old has impressed with the Magpies since arriving on loan in October, making eight appearances and scoring once.
Currently sidelined with a hamstring injury, the 19th-placed club are keen to renew his loan upon its expiry in the middle of this month.
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However, Cowley revealed other interest exists in Mingi, who joined Pompey in September following his release from Charlton.
And the Blues could sanction a new loan home for the highly-regarded midfielder.
Pompey’s head coach told The News: ‘The Maidenhead loan has been good for Jay, he has played every game up until his hamstring injury.
‘With his loan, there’s a break clause in the middle of this month, so we’re just monitoring the situation.
‘Jay has done incredibly well at National League level – and there are a lot of clubs interested in him.
‘We must decide whether we bring him back into our group or whether we extend his loan until the end of the season with Maidenhead, because he has some rhythm and fluency with them.
‘Or there are a number of clubs at the top-end of that division which are keen to take him.
‘We must be open-minded and try to make the right decision for the player, first and foremost.’
Mingi hasn’t appeared since the start of December following his hamstring injury, ruling him out of Maidenhead’s last four league fixtures.
Despite the ignominy of being sent off on his debut against Yeovil, the midfielder has established himself as an impressive performer for Alan Devonshire’s side.
And they are keen to welcome him back to bolster the relegation battle which currently leaves them three points above the drop zone.
Cowley added: ‘We are continuing to speak to Maidenhead, they and Alan Devonshre have done really well with him and helped him with his game.
‘It’s a good level, it has been really good for him. He’s an athletic, dynamic player and we’re just trying to make the right call for him in the second half of the season.’
A message from the Editor, Mark Waldron
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