CITIC Metal is primarily engaged in bulk commodity trading and mining investments. Trading and resource investment are the two key pillars of the company’s development strategy, driving its ambition of becoming a top-tier trader and investor in the field. CITIC Metal specialises in trading a wide range of products, including non-ferrous metals such as niobium, copper and aluminium, as well as ferrous metals including iron ore and steel. The company’s investment portfolio includes Brazilian niobium mining company Companhia Brasileira de Metalurgia e Mineração (CBMM), copper, zinc and platinum mining company Ivanhoe Mines Ltd (IVN.TO), Las Bambas Copper Mine in Peru, Western Superconducting Technologies (688122.SH), China Platinum Company and others.

Business highlights
Maintaining industry leadership in metal trading. By adopting a “technology-driven sales” approach, CITIC Metal expanded niobium applications in China’s steel industry and new materials sector, maintaining a market share of over 80% and setting a record for niobium consumption in the country. In the copper business, the company captured market opportunities and enhanced its upstream and downstream channels, overcoming logistical challenges in Africa. This strategy brought significant growth across various subcategories of the copper industry, achieving record-high levels of scale and profitability, placing CITIC Metal among industry leaders. Meanwhile, the aluminium business focused on trade across the entire industrial chain, continuously developing and expanding its upstream and downstream channels to ensure stable performance.
Securing resource supply through global mining investments. In Democratic Republic of the Congo (DRC), the Kamoa-Kakula (KK) Copper Complex owned by associate Ivanhoe, commenced operations ahead of schedule in its Phase III processing plant. The mine achieved a record-breaking annual copper output of 437,000 tonnes, potentially positioning it as the third-largest copper mine in the world. The Kipushi Zinc-Copper Mine also located in DRC, launched commercial production with an annual zinc output of 50,000 tonnes and an expected five-year average production of 278,000 tonnes per year, making it a strong contender for the world’s fourth-largest zinc mine. In Peru, the second mining site at Las Bambas Copper Mine, Chalcobamba, commenced production and maintained stable operations. The Ferrobamba deep ore bodies added 2.5 million tonnes of copper and 130,000 tonnes of molybdenum to CITIC Metal’s reserves, continuously enhancing the company’s strategic resource supply. Brazilian niobium mining company CBMM maintained stable production and operations, with a global market share consistently exceeding 70%.
Technological innovation and green development
CITIC Metal is committed to enhancing its technological innovation system, deepening its understanding of new quality productivity, and increasing its investment in research and development. Keeping pace with sustainable development trends, the company researches low-carbon recycled automotive parts, high-strength steel for vehicles, as well as advanced batteries and nanocrystalline magnetic materials for new energy vehicles. In partnership with the laboratory of Songshan Lake Materials and Brazilian niobium mining company CBMM, CITIC Metal established a “Joint Laboratory for Advanced Niobium-based Battery Materials” focusing on the research and development of niobium applications in new energy batteries. The company continued to research niobium-containing materials for carbon reduction while expanding the trade of green low-carbon commodities, including recycled copper and nickel. Over the past year, CITIC Metal published 29 invention patents, obtained four intellectual property rights, one utility model patent, two software copyrights and participated in the formulation and revision of six standards.