Chairman Liu Liqiang of Jiaxin International Holds Talks with Minister-Counselor Su Yu of the Chinese Embassy in Kazakhstan, Proposing Joint Support for the Sustainable and Healthy Development of the Boguty Tungsten Mine Project

       On the morning of March 28, Liu Liqiang, Chairman of Jiaxin International, accompanied by He Zhenwei, President of the China Overseas Development Association (CODA), visited the Chinese Embassy in Kazakhstan and held talks with Minister-Counselor Su Yu on commercial affairs. The discussion focused on further supporting the long-term development of the Boguty Tungsten Mine Project.

       Minister-Counselor Su Yu welcomed the visit by Chinese enterprises in Kazakhstan, stating that both the Chinese Embassy in Kazakhstan and the Chinese Consulate General in Almaty have consistently paid close attention to the investment and construction progress of Jiaxin International's Boguty Tungsten Mine Project. After a decade of development, the project is finally nearing completion and production, which is a hard-won achievement. Su Yu expressed hope that the company would continue to operate in compliance with laws and regulations, fulfill social responsibilities, mitigate various risks, and ensure the steady and long-term success of the project. The Chinese Embassy in Kazakhstan serves as a strong pillar of support for Chinese-funded enterprises and projects in Kazakhstan and will safeguard the healthy development of these enterprises.

       CODA President He Zhenwei introduced that Jiaxin International's Boguty Tungsten Mine Project, jointly developed by four member companies of the CODA, represents a successful model of overseas investment cooperation in Kazakhstan where central state-owned enterprises, local state-owned enterprises, and private enterprises pool their respective strengths to go global collectively. The project ranks fourth globally in tungsten reserves and first in designed production capacity. He Zhenwei emphasized that the project has several distinctive features: First, it was among the first batch of projects included in the China-Kazakhstan production capacity cooperation list and has been making steady progress. Second, it adopts an integrated approach encompassing mining, mineral processing, smelting, and processing to build a complete industrial chain, filling a gap in Kazakhstan's industrial sector. Third, plans are in place for a dual listing on both the Hong Kong and Astana stock exchanges to deepen international financing cooperation, with the funds raised explicitly allocated for the second-phase production and processing expansion. Fourth, the project involves collaboration between Chinese and Kazakh universities and research institutions to establish joint laboratories for developing advanced and practical mining technologies. Fifth, it partners with vocational and technical colleges from both countries to cultivate urgently needed frontline skilled workers for Kazakhstan. He expressed hope that the embassy would continue to provide support and guidance to jointly promote the sustainable and healthy development of the Boguty Tungsten Mine Project.

       He Zhenwei further stated that this project represents a tangible achievement in China-Kazakhstan production capacity cooperation, delivering significant economic and social benefits. Coinciding with this year's SCO Summit to be held in Kazakhstan, the project company, Zhetisu Volframy, will make every effort to ensure the trial production of the first-phase construction project commences as scheduled, aiming to establish it as a model project for China-Kazakhstan mining cooperation and present it as a gift to the SCO Summit!

       Wang Kewen, Deputy Secretary-General of CODA; Liu Liqiang, Chairman of Jiaxin International, and Wang Zhongwei, General Manager of Zhetisu Volframy LLP, attended the meeting.