(Yicai) Aug. 5 -- Beijing-based JCHX Mining Management's shares surged after the provider of mining services announced that its wholly-owned Zambian subsidiary had secured a USD115 million mining contract in Zambia.

JCHX [SHA: 603979] closed up 10 percent at CNY78.68 (USD11.70) today, representing an almost 60 percent surge from a year ago.

The mining engineering and operation management service provider said yesterday that JCHX Mining Construction Zambia had signed a mining contract with NFC Africa Mining for the West Mine of the Chambishi Copper Mine covering 2026 and 2027.

The West Mine is one of the main underground mining areas at the Chambishi Copper Mine in Zambia's Copperbelt province, one of Africa's leading copper-producing regions.

JCHX's agreement has a term of 730 days. The USD115 million contract value is an estimate based on the expected workload, with the final amount subject to the actual volume of completed work and the final settlement.

The contract is expected to have a positive impact on JCHX's financial performance and support its future business development, the company said in the announcement.

Founded in 2008, JCHX focuses on mining services, including mine engineering construction, mining operation management, mine design, and research and development. It primarily serves large and medium-sized non-coal underground hard-rock mines.

Editor: Emmi Laine