On May 29, Jiaxin International Resources rose 6.69% in regular trading, reaching HK$84.1 per share, with trading volume of approximately HK$76.67 million.

On the news front, escalating Middle East conflicts have driven unprecedented consumption of high-end ammunition stocks among the US and its allies, elevating tungsten to a core strategic resource for global defense and technology supply chains. The US think tank CSIS warned that current high-intensity military consumption could extend recovery cycles for critical ammunition inventories to several years, implying sustained long-term demand for tungsten. Meanwhile, the US is accelerating efforts to rebuild domestic and allied tungsten supply chains amid ongoing supply pressure.

Additionally, the company previously signed a non-binding MOU with Pangu Mining Limited Partnership Fund to jointly explore mineral resource development opportunities primarily in the Karaganda region of Kazakhstan, covering copper-gold porphyry deposits and tungsten-molybdenum mines. Market expectations for this Central Asia mining expansion strategy continue to ferment. Separately, Tianfeng Securities noted that downstream restocking signals are emerging and tungsten prices are expected to stabilize near-term.

Jiaxin International Resources is an investment holding company principally engaged in the exploration, development, and mining of tungsten ore, focusing on the Bakyuta tungsten mine project in Kazakhstan.

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