Founded in 1988 as a key subsidiary of CITIC Group, CITIC Metal Co., Ltd. (Securities abbreviation: CITIC Metal; Securities code: 601061) is one of the leading traders of metallurgical feedstock and their end-products, as well as a key member of CITIC Group’s advanced material segment, and CITIC Metal occupies multiple world-class metal mining assets. CITIC Metal specializes in the trading of ferrous metals including iron ores and steel, and non-ferrous metals such as niobium, copper and aluminum. It has established trading hubs in Beijing, Shanghai, Ningbo, Hong Kong and Singapore, and investeded in premium assets including Companhia Brasileira de Metalurgia e Mineracao (“CBMM”), Las Bambas Copper Mine, Ivanhoe Mines Ltd., Western Superconducting Technologies Co., Ltd. (“Western Superconducting Technologies”) and China Platinumc. As of December 31, 2022, the Company recorded total assets of RMB38.97 billion and net assets attributable to equity holders of RMB13.97billion.
CITIC Group was established in 1979 by Mr. Rong Yiren with the support of late prominent Chinese leader Deng Xiaoping. CITIC Group, aligning its mission with national goals and contributing to national rejuvenation, pursues a vision of “building an outstanding conglomerate with a lasting reputation.” Operating in five business sectors, i.e. comprehensive financial service, advanced intelligent manufacturing, advanced materials, new consumption, and new-type urbanization, CITIC Group is committed to pioneering national goals and to developing into a leading technology-driven group. Having been listed on Fortune Global 500 for 14 consecutive years, CITIC Group ranked 102nd in 2022.
The company is committed to building a service network of global supply chain, making positive contributions to ensuring the stability of the national metal mineral industry chain and supply chain security in the two dimensions of trade and strategic resource investment.