The resources and energy business spans from exploration, mining and processing, resources trading to power generation. CITIC Resources, CITIC Mining International, CITIC Metal and Sunburst Energy operate the business with interests in many development projects in China, Australia, Brazil, Peru, Gabon, Indonesia, Kazakhstan and other countries.
CITIC Resources is a Hong Kong-listed company (SEHK: 1205) with main businesses including crude oil and coal exploration, mining and production, import and export business, bauxite mining, aluminum smelting, and investment in electrolytic aluminum and manganese industries.
CITIC Limited holds a participating interest in the coal mine JV between Coppabella and Moorvale located in Australia, as well as interests in a number of coal exploration operations in Australia through CITIC Resources. It also holds a 30% interest in Xin Julong coal mine in Shandong Province, China through Sunburst Energy.
CITIC Limited, through Sunburst Energy, invests in and manages power plants in mainland China, with a total installed capacity of over 6.4 million kilowatts. Among them, Ligang Power Station in Jiangsu Province is one of the largest coal-fired power stations 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 over 50 million tons of concentrate powder. Sino Iron is now a major seaborne supplier of magnetite concentrate to China, accounting for approximately 22% of trade by volume. In 2018, Sino Iron reached a record high in production, shipping more than 19 million wet metric tons to CITIC's specialty steel plants and other Chinese and Asian steel mills.
CITIC Metal holds a 15% interest in the Las Bambas copper mine project in Peru and has distribution rights on around 26% of the copper concentrates extracted from the site.
CITIC Metal indirectly holds a 5% interest in Brazilian miner CBMM, and is the sole distributor of the company in China. CBMM produces about 80% of the world's ferroniobium. 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 is a Hong Kong listed company (SEHK: 1091), and one of the largest vertically integrated manganese producers in the world, engaged in the production and sale of manganese products at all stages of the production chain. CITIC Dameng has interests in several mines in China and Gabon, West Africa.
CITIC Limited conduct resources trade through CITIC Metal and CITIC Resources. The commodities traded include iron ore, ferroniobium, copper, aluminum, coal and steel.