HK Stock Market Move | LYGEND RESOURCE (02245) opened nearly 8% higher, signing a subsidiary agreement to establish BJL Joint Venture Company for expanding into wet slag treatment business in Indonesia.

LYGEND RESOURCE (02245) opened nearly 8% higher, rising 7.85% to HK$25 by the time of publication, with a trading volume of HK$44.95 million. On the news front, LYGEND RESOURCE announced that on January 13, 2026, BBS and BMS signed a shareholder agreement for the establishment of a joint venture company, BJL. The establishment of BJL joint venture company is to adapt to the company's business development needs and apply for necessary tax incentives in Indonesia. According to the BJL shareholder agreement, the initial investment amount of BJL is approximately US$505 million, and BJL's statutory capital is 13,298.88 billion Indonesian Rupiah. The respective contributions will be made by the parties to the BJL agreement based on their respective shareholding proportions in BJL, with BBS holding 99.999925% and BMS holding 0.000075%. The parties to the BJL agreement plan to establish BJL to adapt to the company's business development needs and qualify for tax incentives in Indonesia, expecting to reduce the tax burden cost of HPAL slag processing business in the future and optimize the specific execution plan. The HPAL slag processing plant processed 1.34 million tons of HPAL smelter slag annually, along with a slag repository and its supporting facilities. This project will enable the group to reduce waste and effectively utilize resources in accordance with environmental protection principles. Furthermore, as Indonesia's infrastructure budget continues to increase and the demand for HPAL smelter slag processing is expected to rise, the wet slag processing business will create new revenue streams and enhance the group's profitability.