Jiaxin International Resources (03858) saw its share price climb more than 5% in Hong Kong trading, last up 5.74% at HK$58.05 with turnover reaching HK$78.92 million.

On the news front, Zimbabwe has imposed an immediate ban on exports of antimony and tungsten, a move aimed at encouraging mining companies to carry out more mineral processing and refining operations within the country. According to Guojin Securities, supply-side constraints for tungsten ore remain firm, reinforcing upstream restrictions. On the demand side, downstream sectors such as cemented carbide and tungsten materials continue to see steady growth. Combined with export controls, tungsten's status as a strategic resource is being strengthened, which could push the tungsten price center higher over time.

During the first half of this year, Jiaxin International Resources generated revenue of HK$2.703 billion, up 2,039.9% year-on-year, and recorded net profit attributable to shareholders of HK$1.538 billion, turning around from a loss in the prior period. The group also declared an interim dividend of HK$1.87 per share. Over the period, the company produced more than 4,000 tonnes of 65% scheelite concentrate, benefiting from rising tungsten concentrate prices, which contributed to the significant improvement in its financial performance.