Our advanced materials segment aims to ensure supply chain stability and to build competitive advantages through the development of complete vertical industrial value chains jointly with the businesses of the advanced intelligent manufacturing segment.
CITIC Pacific Special Steel is China’s largest dedicated manufacturer of special steel, producing bars, plates, seamless steel tubes, forged steel, wires, and casting billets for customers in the auto components, energy, machinery manufacturing, oil and petrochemicals, transport, shipbuilding and other industrial sectors. Its products are sold in China and more than 60 other markets, including the US, Japan, Europe and Southeast Asia.
With a total production capacity of over 14 million tonnes per annum, CITIC Pacific Special Steel currently operates four main plants – Xingcheng Special Steel, Daye Special Steel, Qingdao Special Steel and Jingjiang Special Steel. The company also has two raw material processing plants in Tongling and Yangzhou, as well as two industrial extension plants – Pacific Special Steel Suspension in Ji’nan and Zhejiang Pacific Seamless Steel Tube in Shaoxing. In addition, the company successfully acquired 40% of the shares of Shanghai Electric Group Pipe Co., Ltd. and thereby obtained management rights of Tianjin Pipe Corporation in January 2021.
CITIC Titanium, founded in 2002, is a new high-tech enterprise specialised in R&D, production and sale of high-grade chloride process TiO2. CITIC Titanium has a capacity of 60,000 tonnes/year of chloride Titanium Dioxide. At the same time, it has mastered both fluidised chlorination and molten salt chlorination techniques. Its product quality is among the best in the world. Titanium dioxide, CITIC Titanium’s major product, is widely used in industries closely related to the development of the national economy, including coatings, paints, paper, plastic, rubber, chemical fibres, ceramics and electronics.
CITIC Metal indirectly holds a 5% interest in Brazilian miner CBMM, which is the world’s largest manufacturer of ferroniobium products. CITIC Metal primarily supplies ferroniobium to medium and large steel mills as it is used to produce high strength and high-performance steels. In 2020, CITIC Metal's ferroniobium trading volume increased to about 34,100 tonnes, accounting for an approximate 80% share of the Chinese market.
Magnetite Iron Ore
Located at Cape Preston in Western Australia’s Pilbara region, CITIC's Sino Iron project is a pioneer of magnetite mining and processing operations in Australia. It is the country’s biggest magnetite operation and is also the largest seaborne supplier of magnetite concentrate to China, by traded volume. In 2020, Sino Iron shipped more than 20 million wet metric tonnes of concentrate to CITIC‘s special steel plants and other Chinese and Asian steel mills. A record 184 ships were loaded at Cape Preston during the calendar year.
CITIC Metal owns a 15% equity stake in the Las Bambas Copper Mine Project in Peru, with the mineral resources of 14.39 million tonnes of copper, which has been under production since 2016 with the annual copper production around 400kt.
In 2018 and 2019, CITIC Metal acquired a 26% stake in Ivanhoe Mines Limited (TSX:IVN), a world renowned mining company listed on the Toronto Stock Exchange, which owns the world-scale, undeveloped and high-grade mining asset Kamoa-Kakula Copper Mine in the Democratic Republic of the Congo, with the mineral resources of 43.69 million tonnes of copper. CITIC Metal has attributable mineral resources of 6.65 million tonnes of copper.
CITIC Resources is listed on the Hong Kong Stock Exchange (1205.HK). Its principal business is the exploration, development and production of oil. It also invests in coal mining, the import and export of commodities, aluminium smelting, bauxite mining and alumina refining. In 2020, CITIC Resources’ overall average daily oil production was 45,770 barrels, a 5.3% decrease compared to 2019.
CITIC Limited, through CITIC Pacific Energy Investment, invests in and manages multiple power stations in mainland China. The company has a total installed capacity of over 8,000MW for coal-fired power stations including Ligang Power Plant in Jiangsu Province, which is the largest power plant in China, with an installed capacity of 4,040MW. During the year, a total of 29.2 billion kWh of electricity was generated, comparable to 2019; 15.58 million GJ of heat was supplied, which was 22% less than that in 2019.
CITIC Limited’s business in traded commodities is conducted mainly through CITIC Metal Co., Ltd and CITIC Resources Holdings Limited, involving materials such as iron ore, ferroniobium, copper, aluminium and steel. CITIC Metal's iron ore trading volume increased to more than 53 million tonnes in 2020, consolidating its position as an iron ore industry leader in China.
* Required Fields
Subject:CITIC Limited | Home