JIAXIN INTL RES (03858) has announced that its indirect non-wholly owned subsidiary, ZV, entered into a construction contract with CCECC Kazakhstan Branch through a public tender on August 24, 2026.

Under the agreement, ZV will procure the expansion works for No. 1 Tailings Storage Facility at the Bakuta Tungsten Mine Project, with a contract price of RMB 256.9 million (including tax), which is subject to adjustment. The scope of work includes the construction of tailings dam, reservoir anti-seepage facilities, tailings transportation systems, water intake structures, monitoring equipment, and other works listed in the bill of quantities.

The Bakuta Mine construction contract covers the expansion of the No. 1 tailings storage facility, which is critical for maintaining the stable and continuous operations of the Bakuta Tungsten Mine Project. As mining and ore processing activities proceed, additional tailings storage capacity and related supporting facilities are required to store and manage the tailings generated from tungsten processing. Therefore, this expansion is essential to address future production demands.

CCECC Kazakhstan Branch was selected as the contractor through a public tendering process. CCECC and its Kazakhstan branch have previously undertaken various construction works for the Bakuta Tungsten Mine Project and provided stripping and mining services, making them familiar with the site conditions, operational requirements, quality standards, and project timelines.

Engaging a contractor with existing knowledge of the Bakuta Tungsten Mine Project is expected to enhance coordination between construction, mining, and processing operations while ensuring the timely progression of the expansion works. The directors believe that the expansion of the No. 1 tailings storage facility is necessary for sustaining the ongoing operations and development of the Bakuta Tungsten Mine Project.

Entering into this construction contract allows the group to leverage CCECC Kazakhstan Branch's accumulated construction expertise and familiarity with the Bakuta project, thereby facilitating the implementation of the expansion and supporting the group's production operations and long-term growth.