Our resources and energy business comprise the exploration, mining and processing of mineral resources, trading of energy products, and power generation. We hold interests in projects in China, Australia, Brazil, Gabon, Germany, Indonesia, Kazakhstan and Peru. We operate our resources and energy business through CITIC Resources, CITIC Mining International, CITIC Metal, and CITIC Pacific Energy Investment.
We own about 60% in CITIC Resources, which has been listed on the Hong Kong Stock Exchange since 1997 (SEHK: 1205). It has 50% participation rights in the Karazhanbas oilfield in Kazakhstan, 90% in Hainan-Yuedong block in China, and 41% in Seram Non-Bula block in Indonesia. In 2019, CITIC Resources' overall average daily oil production was 48,320 barrels.
CITIC Limited holds a participating interest in the Coppabella and Moorvale coal mines joint venture as well as interests in a number of coal exploration operations in Australia via CITIC Resources. It also holds a 30% interest in Xin Julong coal mine in Shandong province, China via CITIC Pacific Energy Investment.
CITIC Limited, through CITIC Pacific Energy Investment, invests in and manages coal-fired power stations in mainland China, with a total installed capacity of over 6,400MW. Among these power stations, Ligang Power Plant in Jiangsu Province is one of the largest coal-fired power stations in China, with an installed capacity of 4,040MW.
CITIC Limited, through CITIC Mining International, has the right to mine two billion tonnes of magnetite ore at Cape Preston in Western Australia's Pilbara region, and has exercised the option to acquire another one billion tonnes of magnetite ore. With a mine life of approximately 30 years, Sino Iron is the largest magnetite mining and processing operation in Australia.
More than 74 million tonnes of concentrate have been shipped since exports commenced. Sino Iron is the largest seaborne supplier of magnetite concentrate to China by traded volume. In 2019, Sino Iron again achieved record production levels, shipping more than 20 million wet metric tonnes to CITIC's special steel plants and other Chinese and Asian steel mills.
CITIC Metal holds a 15% interest in the Las Bambas copper mine project in Peru. Through this partnership, CITIC Metal has also secured distribution rights on around 26% of the copper concentrates extracted from the site.
CITIC Metal indirectly holds a 5% interest in Brazilian miner CBMM, which produces about 80% of the world's ferroniobium. Through the partnership, CITIC Metal has exclusive distribution rights on this resource in China. CITIC Metal primarily supplies ferroniobium to medium and large steel mills as it is used in the production of high strength and high performance steels.
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