At 9:30 a.m. on August 28, 2025, JX International Resources Investment Co., Ltd. (“JX International”), majority-owned by Jiangxi Copper Corporation (JCC), was officially listed on the Main Board of the Hong Kong Stock Exchange (HKEX) and the Belt and Road Market of the Astana International Exchange (AIX) simultaneously. This marks the world’s first dual listing across HKEX and AIX, the first Hong Kong-listed company with tungsten mining as its core business, and the first renminbi-denominated equity listed in Central Asia.
The listing ceremony at HKEX was attended by executives from JX International and its shareholders, alongside representatives from the Hong Kong SAR Government’s Commerce and Economic Development Bureau, InvestHK, the Consulate General of Kazakhstan in Hong Kong and Macao, and other distinguished guests. Senior officials from Jiangxi Province, including Zhang Hua, Deputy Director of the State-owned Assets Supervision and Administration Commission (SASAC) of Jiangxi, Wan Liangshun, Deputy Director of the Jiangxi Local Financial Supervision Bureau, Zhang Jun, Deputy Director of the Jiangxi Provincial Development and Reform Commission, and Chen Changsheng, Deputy Director of the Jiangxi Provincial Department of Commerce, were present. JCC’s Deputy Party Secretary, Vice Chairman and General Manager Zhou Shaobing, and Deputy General Manager Tu Dongyang also attended the event.
The core asset of JX International, the Bakuta Tungsten Mine, is one of the 45 key projects under the China–Kazakhstan production capacity cooperation within the Belt and Road Initiative. It is recognized as the world’s largest open-pit tungsten deposit in terms of trioxide reserves and hosts the largest designed production capacity of any single tungsten mine globally. As JX International’s controlling shareholder, JCC played a pivotal role in this milestone financial transaction. Holding a 41.65% stake prior to the IPO, JCC integrated this world-class tungsten resource into its global portfolio, strengthening its strategic reserves in rare metals. Bakuta aims to mine and process 3.3 million tonnes of tungsten ore in 2025, with output projected to increase to 4.95 million tonnes by 2027. Future plans include building downstream processing facilities to produce ammonium paratungstate (APT) and tungsten carbide powder.
The listing of JX International demonstrates JCC’s active participation in the Belt and Road Initiative, a concrete step in advancing Jiangxi Province’s “1269 Action Plan,” and a significant milestone in JCC’s drive to build a world-class enterprise with a stronger international footprint. It highlights JCC’s commitment to deepening state-owned enterprise reform, enhancing the competitiveness of state capital, and supporting China’s national strategies through secure resource supply and global resource integration.
JCC has a proven capital markets track record: Jiangxi Copper Co., Ltd. completed its independent listings on the HKEX (H shares) in 1997 and the Shanghai Stock Exchange (A shares) in 2002, and in 2019, JCC expanded further by acquiring a controlling stake in Hengbang Co., Ltd., an A-share listed company. With JX International’s successful dual listing in Hong Kong and Astana, JCC now has three listed companies under its umbrella.
Source：China-Mcc.com