Our resources and energy business covers exploration, mining and processing of mineral resources, trading of energy products, and power generation. CITIC Resources, CITIC Mining International, CITIC Metal and CITIC Pacific Energy Investment hold interests in projects in China, Australia, Brazil, Peru, Gabon, Germany, Indonesia, Kazakhstan and others.
CITIC Resources is a Hong Kong-listed company (SEHK: 1205). Its principal business is exploration, development and production of oil. It also invests in coal mining, the import and export of commodities, aluminum smelting, bauxite mining, alumina refining, and manganese mining and processing.
CITIC Limited holds interestsin the Coppabella and Moorvale coal mines, as well as in a number of coal exploration operations in Australia through CITIC Resources. It also holds 30% shares in Xin Julong coal mine in Shandong Province, China via CITIC Pacific Energy Investment.
CITIC Limited, through CITIC Pacific Energy Investment, invests in and manages power plants on Chinese mainland, with a total installed capacity of over 6.4 million kilowatts. Among them, Ligang Power plant in Jiangsu Province is one of the largest coal-fired power plants in China, with an installed capacity of 4.04 million kilowatts.
Magnetite Iron Ore
CITIC Limited, through CITIC Mining International, has the right to mine two billion tons of magnetite ore at Cape Preston in Western Australia's Pilbara region, and has exercised the option to acquire another one billion tons of magnetite ore. With a mine life of approximately 30 years, Sino Iron is the largest magnetite-mining project in Australia.
The project has exported more than 74 million tons of high-grade concentrate. Sino Iron is now the largest seaborne supplier of magnetite concentrate to China, accounting for approximately 22% by traded volume. In 2019, Sino Iron reached a record high in production, shipping more than 20 million wet metric tons of concentrate to CITIC's special steel plants and other Chinese and Asian steel mills.
CITIC Metal holds 15% interests in the Las Bambas copper mine project in Peru and has secured distribution rights to approximately 26%of the copper concentrate extracted from the site.
CITIC Metal indirectly holds 5% interests in Brazilian miner CBMM, which produces about 80% of the world’s ferroniobium. Through the partnership, CITIC Metal has exclusive distribution rights on this resource in China. CITIC Metal primarily supplies ferroniobium to medium- and large-sized steel mills in China as it is used in the production of high strength and high-performance steels.
CITIC Dameng, a Hong Kong listed company (SEHK: 1091), is one of the largest vertically-integrated manganese producers in the world. It is a major supplier of electrolytic metal manganese and electrolytic manganese dioxide and a manufacturer of manganese-based cathode materials. CITIC Dameng has interests in several mines in China and Gabon, West Africa.
CITIC Limited, via CITIC Metal and CITIC Resources, trades commodities including iron ore, ferroniobium, copper, aluminum, coal, platinum and steel.