BJ ENERGY INTL (00686) saw its stock price skyrocket by 8.91% in intraday trading on Tuesday, following a significant announcement related to its investment in Highfield Resources Ltd. The surge comes after Highfield Resources revealed that it had received crucial approvals from the Foreign Investment Review Board (FIRB) for interests held by Yankuang Energy and Beijing Energy International in the company.

The FIRB approval paves the way for a substantial financial commitment from Beijing Energy International (BJEI) and its partners. According to the announcement, BJEI, along with Yankuang Energy and Taizhong, has agreed to subscribe for a total of US$170 million in Highfield Resources. This move is seen as a strategic investment that could potentially bolster BJ ENERGY INTL's position in the energy sector and expand its international footprint.

Investors responded positively to this development, driving up BJ ENERGY INTL's stock price. The market appears to be optimistic about the potential returns and growth opportunities this investment could bring to the company. As the energy sector continues to evolve, such strategic moves are likely to play a crucial role in shaping the future of companies like BJ ENERGY INTL.