The resources and energy business of CITIC Group spans exploration, mining, processing and trading of mineral resources as well as power generation, with interests in projects in China, Australia, Brazil, Gabon, Indonesia and Kazakhstan.
Crude Oil, Coal and Aluminum
CITIC Resources conducts businesses in the exploration, development and production of oil and coal; import and export of commodities; bauxite mining; aluminum smelting; aluminum electrolytic industry; and manganese related investment. It is listed on the Hong Kong Stock Exchange (SEHK: 1205). Thanks to its stepped-up efforts in management and technical upgrading, crude oil output in 2014 was on the rise. The average daily production reached 39,000 barrels (100% equity basis) in the Karazhanbas oilfield in Kazakhstan, with 6,300 barrels (100% equity basis) in Yuedong oilfield in Liaoning province, and 2800 barrels (100% equity basis) in the Seram Island Non-Bula Block in Indonesia.
Magnetite Iron Ore
The Sino Iron Project is the largest magnetite iron ore development project in Australia. CITIC Pacific Mining is responsible for developing and operating the project. The project is located at Cape Preston, southwest of Karratha in Western Australia. Upon completion, the project will deliver an annual output of 24 million tons. Production Line 1 and Line 2 have been put into operation with the building of line 3 to line 6 progressing on schedule.
Minerals and Platinum
CITIC Dameng is one of the largest vertically integrated manganese producers in the world, engaging in major downstream products including electrolytic manganese, manganese sulfate, electrolytic manganese dioxide, silicomangan and high-carbon ferrochrome. CITIC Dameng is a Hong Kong listed company (SEHK: 1091).
CITIC Metal indirectly holds equity in CBMM, the world's leading supplier of niobium and niobium technology. It is also CBMM's core ferroniobium distributor in China, with an 85% market share in ferroniobium sales.
CITIC Pacific Energy has interests in many domestic power plants, with a power output of 3110 MW. Of them, LiGang Power Plant is one of the largest coal-fired power plants in China. CITIC Pacific Energy has 30% equity interests in Xin Julong Coal Mine in Shandong Province.
Magnetite Concentrate Produced in CITIC Pacific Sino Iron Project.
Mining Site of CITIC Pacific Sino Iron Project.