Jiaxin International Resources (03858) subsidiary ZV signed a Bakuta mining construction contract with CCECC Kazakhstan branch

According to Zhitong Finance App, Jiaxin International Resources (03858) announced that on August 24, 2026, the subsidiary ZV (an indirect non-wholly-owned subsidiary of the Company) signed a Bakuta mining construction contract with CCECC Kazakhstan Branch through a public tender. The subsidiary ZV will purchase the Bakuta tungsten ore project No. 1 tailings depot expansion project from CCECC Kazakhstan Branch. The contract price is RMB 256.9 million (tax included) (subject to adjustment).

The subsidiary ZV will procure construction projects from CCECC Kazakhstan Branch for the No. 1 tailings depot expansion project in the Bakuta tungsten mine project, including tailings dam construction, reservoir area anti-seeping facilities, tailings transportation facilities, water intake facilities, monitoring facilities and other projects listed in the engineering volume list.

The Bakuta mining construction contract involves the Bakuta tungsten mine project's No. 1 tailings depot expansion project. The construction project includes tailings dams, anti-seeping facilities, tailings transportation facilities, water intake facilities and monitoring facilities.

As mining and ore processing operations continue, additional tailings storage capacity and related supporting facilities are required to store and manage tailings from tungsten ore processing. Therefore, the expansion project is essential to maintain the stable and continuous operation of the Bakuta tungsten mine project and meet its future production needs.

CCECC Kazakhstan branch was selected as a contractor through a public tender process. CCECC and CCECC Kazakhstan Branch have contracted various construction projects for the Bakuta tungsten mine project and provided mining services, so they are familiar with the project site conditions, operating requirements, quality standards and project schedule. The appointment of contractors with existing knowledge of the Bakuta tungsten project is expected to facilitate coordination between construction, mining and processing operations and ensure timely progress of the expansion project.

The directors believe that the No. 1 tailings depot expansion project is necessary to maintain the continuous operation and development of the Bakuta tungsten mine project. The conclusion of the Bakuta mining construction contract allows the Group to use the CCECC Kazakhstan branch's accumulated relevant construction experience and familiarity with the Bakuta tungsten project to promote the implementation of the expansion project and support the Group's production, operation and long-term development.