Business Scope
Commodity Trading
Mainly engaged in the trade of iron ore, steel, copper, niobium and aluminum etc., CITIC Metal owns several world-class assets including CBMM, Las Bambas copper mine and Ivanhoe Mines Ltd. Moreover, CITIC Metal has invested in China Platinum, Western Superconducting Technologies and other high quality assets to proactively deploy investment in advanced materials such as PGM (platinum group metals) and superconducting materials. The investment portfolio lays a solid foundation for the future development of the Company while achieving a strong investment returns.
Committed to the philosophy of prudent operation with proper risk control, adheres to the development model of “trade+resources”, deepens our efforts in the field of metals and minerals, devotes to building a service network of global supply chain, implements the national strategy of “trading enpowers the country” with practical actions, holds the “two markets, two resources” developing mode, and helps to ensure the safety and stability of industry chain and supply chain of China’s metal and mineral fields. The company has become a leading commodity trader with a revenue scale of over a hundred billion in the industry.
CITIC Metal is among the pioneer Chinese enterprises that expanded to overseas markets by keep identifying mining projects with rare mineral resources in line with the resource strategy in China and with high import dependence ratio. Based on the criteria of low cost, large-scale and sustainable lifetime, it elaborately selected among some of the best mining projects which would be integrated into commodity trading through offtake arrangement. The Company’s three overseas projects, i.e. CBMM, the Las Bambas copper mine and Ivanhoe Mines Ltd., helping to considerably improve its market position in the industry, are of great strategic significance in the supply of scarce mineral resources in China.