--- title: "New Stock News | Jiaxin International passes Hong Kong Stock Exchange hearing, focusing on the development of the Bakuta tungsten mine" type: "News" locale: "en" url: "https://longbridge.com/en/news/252561834.md" description: "Jiaxin International Resources Investment Co., Ltd. has passed the listing hearing through the Hong Kong Stock Exchange and has become a sole sponsorship project of China International Capital Corporation (CICC). The company focuses on developing the Bakuta tungsten mine located in Kazakhstan, which is expected to be the largest open-pit tungsten mine in the world in terms of tungsten trioxide mineral resources. Commercial production is planned to start in April 2025, with an annual mining capacity target of 3.3 million tons" datetime: "2025-08-11T22:48:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/252561834.md) - [en](https://longbridge.com/en/news/252561834.md) - [zh-HK](https://longbridge.com/zh-HK/news/252561834.md) --- # New Stock News | Jiaxin International passes Hong Kong Stock Exchange hearing, focusing on the development of the Bakuta tungsten mine According to the Hong Kong Stock Exchange's disclosure on August 11, Zhitong Finance APP learned that Jiaxin International Resources Investment Limited (referred to as: Jiaxin International) has passed the listing hearing on the Hong Kong Stock Exchange, with China International Capital Corporation as the sole sponsor. **![111.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20250812/1754951515337160.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)** The prospectus shows that Jiaxin International is a tungsten mining company based in Kazakhstan, focusing on the development of the Bakuta tungsten mine ("Bakuta Tungsten Mine Project"). According to Frost & Sullivan, as of December 31, 2024, this mine is one of the largest open-pit tungsten mines in the world in terms of tungsten trioxide (WO3) mineral resources. According to the same data, as of December 31, 2024, the Bakuta tungsten mine is also the fourth largest tungsten mine in the world in terms of WO3 mineral resources (including open-pit and underground tungsten mines), possessing the largest designed tungsten production capacity in a single tungsten mine. During the track record period, the company primarily focused on preparing for the commercial production of the Bakuta tungsten mine project. The first phase of commercial production for the Bakuta tungsten mine project is set to begin in April 2025, with a target annual mining and mineral processing capacity of 3.3 million tons of tungsten ore for 2025. As of the last practical feasibility date, the company has only one mine (the Bakuta tungsten mine), and recent revenue depends on this mine. According to an independent technical report, as of June 30, 2025, under the JORC Code, the estimated mineral resources of the company's Bakuta tungsten mine are approximately 107 million tons of ore containing 0.211% WO3 (equivalent to 227.3 thousand tons of WO3), including 95.6 million tons of controlled resources (0.209% WO3) and 11.9 million tons of inferred resources (0.228% WO3). As of June 30, 2025, according to the JORC Code guidelines, the company's Bakuta tungsten mine has a credible ore reserve of 68.4 million tons of ore, with an average grade of 0.206% WO3, equivalent to 140.8 thousand tons of WO3. With Jiaxin International's rich tungsten resources and reserves, expected cost-effective production, and convenient location in Kazakhstan, the company plans to continue developing the Bakuta tungsten mine project into a world-class tungsten mining project. In particular, the company plans to integrate the ore sorting system into the existing mining process by 2027, increasing the target annual mining and mineral processing capacity of tungsten ore to 4.95 million tons, and further build deep processing plants to produce high-quality ammonium paratungstate (APT) and tungsten carbide (WC). The company also plans to explore more investment opportunities in non-ferrous metal resources in Central Asia. In July 2023, the company signed a memorandum of understanding with relevant authorities in Kazakhstan to facilitate potential cooperation in other new areas that the contracting parties may consider suitable for further collaboration as the company continues to develop the Bakuta tungsten mine project In terms of finance, for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2024 and 2025, Jiaxin International reported operating losses of HKD 75.09 million, HKD 77.291 million, approximately HKD 160 million, HKD 63.399 million, and HKD 69.718 million, respectively; during the same period, the annual/period losses were approximately HKD 94.45 million, HKD 80.129 million, approximately HKD 177 million, HKD 64.969 million, and HKD 6.989 million. ![222.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20250812/1754951499491711.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) ### Related Stocks - [01051.HK](https://longbridge.com/en/quote/01051.HK.md) ## Related News & Research - [North Haven Private Income Fund A About 69.5% Of Each Investor's Tender Request Fulfilled](https://longbridge.com/en/news/290616575.md) - [Trump hails Iran deal but conflict continues to cast long shadow over global economy](https://longbridge.com/en/news/290349891.md) - [No job offer for UK's Streeting from Burnham, Streeting says](https://longbridge.com/en/news/290444783.md) - [Cloudbreak Pharma survey shows pinguecula patients report high burden, strong interest in prescription treatment](https://longbridge.com/en/news/290431876.md) - [Tianjin Port Development unit Tianjin Port Co signs share-issuance deal to buy Tianjin Port Group terminal assets at RMB 4.36/share](https://longbridge.com/en/news/290427431.md)