Quarterly Production Report - Part 1

Rio Tinto PLC 28 April 2000 Part 1 Rio Tinto Quarterly Production Report For the Quarter ending 31 March 2000 - Iron ore production in the first quarter of 2000 was 24% higher than the same quarter in 1999 and 5% higher than the last quarter of 1999. Shipments were 41% higher than in the comparable quarter of 1999 reflecting the upturn in the steel industry. - Aluminium production was down 1% on the last quarter of 1999 but 7% higher than the comparable quarter in 1999 reflecting continuing good performance at the smelters and Rio Tinto's increased stake in Comalco. - Copper production fell by 3% compared with the previous quarter and 7% compared with the comparable quarter in 1999 generally due to lower grades at most mines. - Coal production was 4% lower compared with the comparable quarter in 1999 and 13% lower than in the last quarter of 1999, due in part to the seasonal demand patterns in the US. - Gold production fell 10% compared with the comparable quarter of 1999 and 18% compared with the last quarter of 1999 due primarily to a significantly lower contribution from Grasberg. - Borate production was in line with production in the first quarter of 1999. Titanium dioxide feedstock production was unchanged. For further information contact: Media Relations Investor Relations John Hughes Peter Jarvis + 44 20 7753 2331 + 44 20 7753 2401 Website: www.riotinto.com RIO TINTO PRODUCTION SUMMARY QUARTER FULL % CHANGE YEAR Principal 1999 1999 2000 1999 Q1 00 Q1 00 Commodities Q1 Q4 Q1 vs vs Q4 99 Q1 99 Copper - mined ('000 t) 220.1 211.8 204.5 859.8 -3% -7% Copper - refined ('000 t) 83.8 104.3 98.3 388.2 -6% 17% Gold - mined ('000 ozs) 712 785 640 2,987 -18% -10% Gold - refined ('000 ozs) 82 96 80 346 -16% -2% Iron ore ('000 t) 11,535 13,579 14,321 51,830 5% 24% Coal ('000 t) 32,616 35,904 31,243 139,177 -13% -4% Aluminium ('000 t) 133.4 143.6 142.5 557.8 -1% 7% Borates ('000 t) 146 132 145 561 10% 0% Titanium dioxide feedstock ('000 t) 377 350 349 1,428 0% -7% Other Metals & Minerals Bauxite ('000 t) 2,143 2,298 2,137 8,506 -7% 0% Alumina ('000 t) 283 304 301 1,185 -1% 6% Diamonds ('000 cts) 4,244 4,430 3,983 17,730 -10% -6% Lead - mined ('000 t) 5.3 4.7 3.5 20.9 -26% -34% Molybdenum ('000 t) 2.1 1.6 2.3 6.3 48% 11% Nickel in matte (tonnes) 2,171 2,928 2,561 9,445 -13% 18% Nickel - refined (tonnes) 926 969 973 3,942 0% 5% Salt ('000 t) 714 920 665 3,409 -28% -7% Silver - mined ('000 ozs) 3,787 4,093 3,443 15,973 -16% -9% Silver - refined ('000 ozs) 1,202 775 776 4,291 0% -35% Talc ('000 t) 310 313 321 1,268 3% 4% Tin (tonnes) 219 150 109 1,057 -27% -50% Uranium (tonnes) 587 504 567 2,217 13% -3% Zinc - mined ('000 t) 19.4 17.1 9.9 74.5 -42% -49% Zinc - refined ('000 t) 21.4 21.2 17.8 84.9 -16% -17% NB. Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page. The figures shown for production are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the full year figures. PRINCIPAL COMMODITIES Rio Tinto Share of Production Full 1Q 2Q 3Q 4Q 1Q Year Interest 1999 1999 1999 1999 2000 1999 COPPER Mine production ('000 tonnes) Kennecott Utah Copper 100% 79.4 68.9 67.2 63.7 69.7 279.3 Escondida 30% 74.6 77.8 75.8 71.4 67.0 299.7 Grasberg - FCX (a) 13% 20.9 21.2 21.7 20.5 18.5 84.3 Grasberg - Joint Venture (a) 40% 19.9 24.8 23.1 27.4 24.5 95.2 Neves Corvo 49% 13.0 12.2 12.3 11.8 11.9 49.3 Palabora (c) 46% 12.3 9.8 12.9 17.0 13.0 52.0 Rio Tinto total mine production 220.1 214.7 213.2 211.8 204.5 859.8 Refined production ('000 tonnes) Kennecott Utah Copper 100% 53.9 71.9 69.2 70.3 69.9 265.4 Palabora 46% 11.8 9.6 11.3 13.9 8.3 46.5 Atlantic Copper (a) 15% 9.2 9.2 8.8 9.5 9.7 36.8 Escondida 30% 8.9 9.7 10.4 10.5 10.5 39.5 Rio Tinto total refined production 83.8 100.4 99.7 104.3 98.3 388.2 At the end of the quarter, the Group had provisionally priced sales of copper in concentrates and intermediate product as follows: Million lbs of payable copper: Kennecott 100% 14 0 0 0 0 0 Escondida 30% 126 105 96 104 115 104 Grasberg (a) 13% 39 59 40 56 58 56 Neves Corvo 49% 9 9 9 9 11 9 Rio Tinto total 188 173 145 169 184 169 Priced at US c/lb average 63 75 81 84 78 84 GOLD Mine production ('000 ounces) Kennecott Utah Copper 100% 96 87 95 88 111 367 Grasberg - FCX (a) 13% 76 77 83 72 59 308 Grasberg - Joint Venture (a) 40% 148 150 140 196 113 633 Kelian 90% 93 91 111 102 68 396 Ridgeway 100% 20 23 26 12 - 81 Barneys Canyon 100% 18 26 25 43 33 112 Morro do Ouro 51% 21 22 26 28 30 96 Rawhide 51% 13 15 16 14 14 58 Peak 100% 37 32 33 38 32 140 Cortez/Pipeline 40% 126 135 143 127 125 532 Escondida 30% 11 12 12 10 10 45 Rio Tinto Zimbabwe 56% 10 10 10 10 9 40 Lihir (b) 16% 22 25 32 28 20 107 Greens Creek 70% 16 14 14 12 15 56 Others:(c) 3 3 5 6 2 16 Rio Tinto total mine production 712 720 770 785 640 2,987 Refined production ('000 ounces) Kennecott Utah Copper 100% 82 83 86 96 80 346 IRON ORE Production ('000 tonnes) Hamersley 100% 82 83 86 96 80 346 Channar 60% 1,322 1,268 1,772 1,705 1,556 6,066 Corumba (d) 100% 211 227 235 94 147 767 Rio Tinto total mine production 11,535 12,932 13,785 13,579 14,321 51,830 Mine production figures for metals refer to the total quantity of metal produced in concentrates or dore bullion irrespective of whether these products are then refined onsite, except for the data for iron ore which represent production of saleable quantities of ore. See footnotes below PRINCIPAL COMMODITIES (continued) Rio Tinto Share of Production Full Coal 1Q 2Q 3Q 4Q 1Q Year Interest Type 1999 1999 1999 1999 2000 1999 COAL US coal operations ('000 tonnes) Kennecott Energy Cordero Rojo 100% S 9,586 10,369 10,352 11,129 8,899 41,436 Antelope 100% S 4,590 5,183 5,548 5,258 5,076 20,579 Spring Creek 100% S 2,500 2,490 2,490 2,495 2,650 9,975 Decker 50% S 1,162 988 1,253 1,574 1,056 4,977 Colowyo (e) 100% S 1,155 1,284 1,197 1,417 1,168 5,053 Jacobs Ranch 100% S 6,189 6,750 6,416 7,016 5,726 26,371 Total US coal 25,182 27,064 27,256 28,889 24,575 108,391 Australian coal operations ('000 tonnes) Pacific Coal: Blair Athol (f) 71% S 1,999 2,011 2,088 1,817 1,733 7,915 Kestrel Coal (g) 80% S - 70 183 171 176 424 80% M - 96 503 284 348 883 Tarong Coal 100% S 1,155 1,461 1,325 1,176 1,256 5,116 Coal & Allied Industries: Hunter Valley Operations (h) 71% S 1,121 1,076 1,257 829 869 4,284 71% M 556 458 661 443 546 2,118 Mount Thorley 57% S 382 281 336 253 246 1,252 57% M 352 391 348 294 348 1,385 Total Australian coal 5,565 5,844 6,701 5,267 5,522 23,377 Indonesian coal operations ('000 tonnes) Kaltim Prima Coal (i) 50% S 1,776 1,582 2,018 1,631 1,146 7,007 South American coal operations ('000 tonnes) Carbones del Cerrejon (j) 33% S 93 93 98 118 0 402 Rio Tinto total coal production 32,616 34,583 36,073 35,904 31,243 139,177 BAUXITE/ALUMINA/ALUMINIUM Bauxite ('000 tonnes) Weipa (k) 72% 2,068 1,934 2,016 2,170 2,011 8,188 Boke (k) 3% 76 75 38 128 125 317 Rio Tinto total bauxite production 2,143 2,010 2,055 2,298 2,137 8,506 Alumina ('000 tonnes) Queensland Alumina (k) 22% 192 198 201 202 198 792 Eurallumina (k) 41% 92 96 103 102 104 393 Rio Tinto total Alumina production 283 294 303 304 301 1,185 Aluminium ('000 tonnes) Comalco (k) 72% 115.9 121.8 124.3 125.9 124.7 487.9 Anglesey 51% 17.5 17.4 17.3 17.7 17.8 69.9 Rio Tinto total aluminium production 133.4 139.3 141.6 143.6 142.5 557.8 BORATES Borates ('000 tonnes B2O3 content) Rio Tinto total borate production 100% 146 146 137 132 145 561 TITANIUM DIOXIDE FEEDSTOCK Production ('000 tonnes) Rio Tinto Iron & Titanium 100% 377 354 347 350 349 1,428 Key to coal type: S = Steaming/thermal coal, M = Metallurgical/coking coal See footnotes below OTHER METALS & MINERALS Rio Tinto Share of Production Full 1Q 2Q 3Q 4Q 1Q Year Interest 1999 1999 1999 1999 2000 1999 DIAMONDS Production ('000 carats) Argyle 60% 4,244 4,337 4,720 4,430 3,983 17,730 LEAD Mine production ('000 tonnes) Various (c) 5.3 5.4 5.4 4.7 3.5 20.9 MOLYBDENUM Mine production ('000 tonnes) Kennecott Utah Copper 100% 2.1 1.4 1.3 1.6 2.3 6.3 NICKEL Nickel in matte (tonnes) Fortaleza 100% 2,171 1,726 2,620 2,928 2,561 9,445 Toll refined metal production (tonnes) Rio Tinto Zimbabwe - Empress 56% 926 1,036 1,011 969 973 3,942 SALT Production ('000 tonnes) Dampier 65% 714 941 835 920 665 3,409 SILVER Mine production ('000 ounces) Kennecott Utah Copper 100% 1,109 905 959 886 916 3,859 Greens Creek 70% 1,547 1,954 1,810 1,902 1,758 7,213 Grasberg - FCX (a) 13% 121 148 147 147 128 563 Grasberg - Joint Venture (a) 40% 50 61 194 133 75 438 Others: (c) - 960 927 989 1,025 566 3,900 Rio Tinto total mine production 3,787 3,994 4,099 4,093 3,443 15,973 Refined production ('000 ounces) Kennecott Utah Copper 100% 1,202 1,154 1,160 775 776 4,291 TALC Production ('000 tonnes) Luzenac Group 99.9% 310 325 321 313 321 1,268 TIN Mine production (tonnes) Neves Corvo 49% 219 241 448 150 109 1,057 Mine production figures for metals refer to the total quantity of metal produced in concentrates or dore bullion irrespective of whether these products are then refined on site. The nickel in matte production reflects the contained tonnage of nickel. See footnotes below. OTHER METALS & MINERALS (continued) Rio Tinto Share of Production Full 1Q 2Q 3Q 4Q 1Q Year Interest 1999 1999 1999 1999 2000 1999 URANIUM Production (tonnes U3O8) Rossing 69% 576 549 557 493 561 2,175 Palabora 46% 10 11 10 11 7 42 Rio Tinto total uranium production 587 559 567 504 567 2,217 ZINC Mine production ('000 tonnes) Various(c) - 19.4 18.9 19.2 17.1 9.9 74.5 Refined production ('000 tonnes) Norzink 50% 18.5 17.5 18.2 17.9 17.8 72.0 Others:(c) - 2.9 3.1 3.5 3.4 - 12.9 Rio Tinto total refined zinc production 21.4 20.6 21.6 21.2 17.8 84.9 (a)Rio Tinto's initial interests in the Grasberg mine and in the Atlantic Copper smelter were acquired in 1995 by virtue of an acquisition of shares in Freeport-McMoran Copper & Gold (FCX). As a result of FCX share buy-backs, Rio Tinto's interest in FCX has changed and, as of 31 March 2000, Rio Tinto had,by virtue of its FCX shareholding, a 12.8% share in Grasberg and a 15.0% share in Atlantic Copper. From 1 January 1998, under the Joint Venture agreement with FCX, Rio Tinto is entitled to 40% of additional material mined as a consequence of the expansion of the Grasberg facilities. The additional entitlement is shown separately in the above tables. (b)Effective 14th February 2000, Rio Tinto's interest in Lihir decreased from 17.15% to 16.3% following a placement of shares by Lihir Gold. (c)Up until 31 December 1999, the above table included Rio Tinto's share of production from its one third interest in Minera S.A. This was sold at the end of 1999. (d)Rio Tinto increased its interest in the Corumba mine, Brazil, from 80% to 100% during June 1999. Rio Tinto's share of production has been increased to 100% from 1 January 1999, in accordance with the purchase agreement. (e)Kennecott Energy has a partnership interest in the Colowyo mine, but as it is responsible under a management agreement for the operation of the mine, all of Colowyo's output is included in Rio Tinto's share of production. (f)On 10 January 1999, Rio Tinto increased its beneficial interest in the Blair Athol mine from 57.2% to 71.2%. (g)Rio Tinto acquired Kestrel Coal, formerly Gordonstone, in February 1999 and production commenced in June 1999. (h)Coal & Allied has purchased the Rio Tinto coal interests in New South Wales that were previously held under the Novacoal name. Coal & Allied also purchased Mitsubishi Development Pty Ltd's 40% interest in the Howick mine. These transactions took effect from 1 July 1999. The restructuring of Coal & Allied's shareholding leaves Rio Tinto with a 70.9% interest. Rio Tinto's share of production for quarters prior to 1 July 1999 is reported in line with the pre-merger shareholdings. (i)Rio Tinto has a 50% share in Kaltim Prima and, under the terms of its Coal Agreement, the Indonesian Government is entitled to a 13.5% share of Kaltim Prima's production. Rio Tinto's share of production shown is before deduction of the Government share. (j)Rio Tinto disposed of its interest in Carbones del Cerrejon in early January 2000. (k)Rio Tinto progressively increased its interest in Comalco from 70.4% to 72.4% during the first half of 1999. Rio Tinto's share of production has been calculated using the weighted average of Rio Tinto's interest over the relevant periods. MORE TO FOLLOW MSCPUUCACUPUUQR

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