CITIC Pacific Mining (CPM) is a wholly owned subsidiary of CITIC Pacific Limited, a leading Chinese investment and financial services group. CPM was established in 2006 to undertake mining and allied activities in the mining sector in Australia. Led by an experienced team of mining professionals, CPM has since derived significant economic and social benefits from two major projects in Western Australia: The Sino Iron Project, located in the 65 square kilometre Pilbara region, and the Cape Preston East (CPE) Iron Ore Expansion Project, located in the East Pilbara region.
The Sino Iron project is the largest magnetite mining and processing operation in Australia, producing high-grade concentrate for export to China. CPM’s involvement in this project has enabled it to establish a significant presence in the Western Australia mining industry, while providing recent local economic benefits via employment and associated benefits. The Sino Iron project provides direct jobs for approximately 1600 people, with indirect jobs created too as a result of the project. In addition, CPM has an agreement with a China-based steel company to purchase the entire output of iron ore concentrates.
The CPE Iron Ore Expansion Project is CPM’s next major project, which is located within the Port of Cape Preston. The project aims to increase iron ore production to an optimal production rate of 35 million tonnes per annum (Mtpa). The project is expected to create up to 500 direct jobs and thousands of indirect jobs. Shipment of iron ore from this project is projected to start at the end of 2021.
Detailed engineering, procurement and construction (EPC) activities for the CPE project have now begun. In order to ensure the smooth and successful development of the project, CPM has partnered with some of the worlds leading engineering and project management companies. The engineering partners of CPM include Bechtel Australia, John Holland, GHD and Monadelphous Group. In addition, the company has also taken a proactive approach to ensure best-in-class safety protocols and environmental standards.
CPM is committed to fostering a sustainable development model, which includes the capacity of the local Aboriginal communities and entrepreneurs to participate in the development of the project. The company is actively engaging in a range of joint venture arrangements across the sector. It is also investing in various initiatives such as Indigenous cultural heritage and environmental protection.
Since its establishment in 2006, CPM’s commitment to continuous improvement has enabled the company to achieve a number of industry awards. Recently, CPM has been awarded Australia’s WaterWise Certified Mine Award and the Australian Mining Industry Award for Excellence in Sustainability for 2020. These awards recognize CPM’s commitment to successfully managing operations in an efficient and sustainable manner.
CPM is continuously striving to be an industry leader, through its focus on safe and responsible operations, as well as its commitment to creating enduring value for the communities in which it operates. By harnessing the right capabilities and adhering to stringent development and operating standards, the company is well placed to continue delivering economic benefits and creating job opportunities in the Western Australia mining sector.
