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FINWIRES

Jiaxin International Resources Signs Boguty Mining Contract; Shares Down 8%

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Jiaxin International Resources (HKG:3858) said its subsidiary has signed a 256.9 million yuan contract with China Civil Engineering Construction Corporation's Kazakhstan branch to expand the tailings storage facility at its Boguty tungsten project, according to a Monday Hong Kong bourse filing.

The contract covers construction of the tailings dam, anti-seepage, transportation, water intake and monitoring facilities, with completion targeted for April 2028.

The final contract value is capped at 306.1 million yuan.

Shares of the firm were down over 8% in Tuesday morning trade.

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