Zheng Quan Shi Bao Wang·2025-08-12 00:34Group 1 - The core viewpoint of the article is that Jiaxin International Resources Investment Co., Ltd. has passed the listing hearing of the Hong Kong Stock Exchange, with CICC as the sole sponsor [1] - The company focuses on the development of the Bakuta tungsten mine project in Kazakhstan, which is the largest open-pit tungsten trioxide mineral resource globally as of December 31, 2024, and the fourth largest in terms of tungsten trioxide mineral resources [1] - The Bakuta tungsten mine project is expected to commence its first phase of commercial production in April 2025, with a target annual mining and mineral processing capacity of 3.3 million tons of tungsten ore for the year 2025 [1] Group 2 - As of June 30, 2025, the estimated mineral resource of the Bakuta tungsten mine is approximately 107 million tons, with a credible ore reserve of 68.4 million tons [1] - The company plans to increase its annual mining and processing capacity to 4.95 million tons by 2027 and to construct deep processing facilities to produce ammonium paratungstate (APT) and tungsten carbide (WC) [1]