Rio Tinto 3QPR 2002 - Part 1
Rio Tinto PLC
23 October 2002
Part 1
Rio Tinto Quarterly Production Report
For the Quarter Ending 30 September 2002
*Iron ore production was one per cent lower than in the same period
last year. Hamersley shipments were at a new quarterly record level,
driven by strong demand, especially from China. Shipments from Robe River
increased with the start of commercial deliveries from the West Angelas
mine at the end of July.
*Production from the Australian and Indonesian coal operations was
eight per cent lower than in the comparable period of 2001, reflecting the
disposal in the first half of 2002 of some of the mines acquired from
Peabody and reduced production at Coal & Allied in line with market
demand.
*On a quarterly basis US coal production was marginally higher, but
over the first nine months of the year was lower reflecting market demand,
which was affected by mild weather conditions, and reduced production at
the Cordero Rojo mine in the quarter due to the combination of high
rainfall and highwall instability issues.
*Third quarter mined copper production was four per cent lower than in
the same period of 2001. Lower production reflected primarily the impact
of production cutbacks at Escondida and lower grades at Kennecott,
partially offset by a higher joint venture share of Grasberg production.
Refined copper production in the quarter was affected by a short
maintenance shutdown, in August, at the Kennecott smelter.
Mined gold production was two per cent lower than the comparable period in
2001.
Third quarter aluminium production was five per cent above 2001,
reflecting Comalco's increased equity share of the Boyne Island smelter in
the quarter and higher production at all smelters. Alumina production was
12 per cent higher, due to the acquisition of additional equity in
Queensland Alumina in September 2001.
Diamond production was 12 per cent higher than in the same quarter of 2001 due
to higher grades at Argyle.
Third quarter titanium dioxide feedstock production was 14 per cent
below the same period in 2001 as production was curtailed in line with
market demand. Borates production was down seven per cent.
For further information contact:
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RIO TINTO PRODUCTION SUMMARY
RIO TINTO share
of production
% CHANGE
QUARTER NINE MONTHS Q3 02 Q3 02 9 Mths 02
2001 2002 2002 2001 2002 vs vs vs
Q3 Q2 Q3 Q2 02 Q3 01 9 Mths 01
Principal Commodities
Alumina
('000 t) 435 489 487 1,242 1,468 0% 12% 18%
Aluminium
('000 t) 191.7 193.9 202.0 569.3 587.0 4% 5% 3%
Borates
('000 t) 142 130 132 430 393 2% -7% -9%
Coal - Australian
and Indonesian
('000 t) 11,706 10,852 10,712 31,958 32,585 -1% -8% 2%
Coal - US
('000 t) 25,133 26,020 25,385 78,324 77,257 -2% 1% -1%
Copper - mined
('000 t) 222.7 228.3 214.4 698.4 643.3 -6% -4% -8%
Copper - refined
('000 t) 75.5 108.7 99.0 260.8 311.8 -9% 31% 20%
Diamonds
('000 cts) 8,045 8,433 9,046 18,151 23,656 7% 12% 30%
Gold - mined
('000 ozs) 906 745 890 2,747 2,322 19% -2% -15%
Gold - refined
('000 ozs) 88 133 123 277 383 -7% 40% 38%
Iron ore
('000 t) 24,212 21,600 24,087 67,104 68,194 12% -1% 2%
Titanium dioxide
feedstock
('000 t) 359 318 309 1,086 955 -3% -14% -12%
Other Metals & Minerals
Bauxite
('000 t) 2,855 2,859 2,984 8,827 8,724 4% 5% -1%
Lead - mined
('000 t) 9.5 9.5 12.7 29.0 30.6 34% 34% 5%
Molybdenum
('000 t) 1.5 1.3 1.7 6.5 4.7 26% 13% -28%
Nickel in matte
(tonnes) 2,989 1,290 510 8,186 3,863 -60% -83% -53%
Nickel - refined
(tonnes) 992 835 987 2,827 2,765 18% -1% -2%
Salt
('000 t) 1,007 1,085 1,223 2,926 3,411 13% 21% 17%
Silver - mined
('000 ozs) 4,180 4,318 4,427 13,432 12,938 3% 6% -4%
Silver - refined
('000 ozs) 626 1,104 1,178 2,117 3,072 7% 88% 45%
Talc
('000 t) 311 346 341 952 1,009 -2% 9% 6%
Tin
(tonnes) 192 36 - 517 159 -100% -100% -69%
Uranium
(tonnes) 1,087 1,131 1,353 3,453 3,644 20% 24% 6%
Zinc - mined
('000 t) 25.7 22.8 24.7 75.5 69.9 8% -4% -7%
Zinc - refined
('000 t) - - - 20.4 - - - -
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 nine month figures.
RIO TINTO
SHARE OF PRODUCTION
3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
Interest 2001 2001 2002 2002 2002 2001 2002
ALUMINA
Production
('000 tonnes)
Eurallumina
56% 127 151 141 139 145 406 425
Queensland
Alumina (a)
39% 308 368 352 350 342 836 1,043
Rio Tinto total
alumina production 435 519 492 489 487 1,242 1,468
ALUMINIUM
Refined production
('000 tonnes)
Anglesey
51% 17.4 17.5 18.2 17.2 17.6 53.6 52.9
Bell Bay
100% 41.3 40.4 40.3 39.9 41.6 120.4 121.8
Boyne Island (b)
59% 70.6 73.4 67.0 71.0 77.3 204.1 215.2
Tiwai Point
79% 62.4 65.0 65.6 65.9 65.6 191.2 197.1
Rio Tinto total
aluminium production 191.7 196.3 191.1 193.9 202.0 569.3 587.0
BAUXITE
Production
('000 tonnes)
Boke 4% 175 55 122 121 121 414 364
Weipa 100% 2,680 2,913 2,759 2,738 2,863 8,413 8,359
Rio Tinto total
bauxite production 2,855 2,968 2,881 2,859 2,984 8,827 8,724
BORATES
Borates
('000 tonnes B2O3 content)
Rio Tinto total
borate production
100% 142 134 130 130 132 430 393
Coal
COAL Type
Australian coal operations
('000 tonnes)
Coal & Allied Industries(c):
Bengalla (d)
30% S 312 423 275 493 359 995 1,127
Hunter Valley
Operations
76% S 1,914 1,933 1,419 1,831 1,791 4,012 5,040
76% M 687 633 767 659 465 2,280 1,892
Mount Thorley
Operations
61% S 373 376 362 340 363 997 1,065
61% M 403 313 327 295 229 942 852
Moura (d)
0% S 208 184 268 139 - 683 407
0% M 282 247 323 230 - 833 552
Narama (d)
0% S 205 162 135 - - 627 135
Ravensworth
East (d)
0% S 281 332 281 - - 764 281
Warkworth (d)
42% S 584 463 647 570 582 1,607 1,799
42% M 21 57 72 75 66 164 213
Pacific Coal:
Blair Athol Coal
71% S 2,000 1,329 2,130 1,846 2,407 6,217 6,383
Kestrel Coal
80% S 348 185 259 322 274 777 854
80% M 572 287 505 501 383 1,367 1,389
Tarong Coal
100% S 1,253 1,333 1,314 1,422 1,254 3,942 3,990
Total Australian coal 9,443 8,256 9,083 8,724 8,172 26,207 25,979
Indonesian coal operations
('000 tonnes)
Kaltim Prima
Coal (e) 50% S 2,263 2,055 1,938 2,128 2,540 5,751 6,606
US coal operations
('000 tonnes)
Kennecott Energy
Antelope
100% S 5,525 6,038 5,335 6,075 6,452 16,306 17,862
Colowyo (f)
100% S 1,350 1,271 1,177 1,309 1,229 3,960 3,715
Cordero Rojo
100% S 9,676 10,453 9,100 8,990 7,474 28,999 25,564
Decker 50% S 993 1,133 1,072 1,046 1,196 3,122 3,313
Jacobs Ranch
100% S 5,404 7,067 6,869 6,593 7,315 19,545 20,777
Spring Creek
100% S 2,185 2,375 2,300 2,007 1,719 6,392 6,026
Total US coal 25,133 28,337 25,853 26,020 25,385 78,324 77,257
Rio Tinto total
coal production 36,839 38,648 36,874 36,872 36,097 110,282 109,842
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.
Key to coal type: S = Steaming/thermal coal, M = Metallurgical/coking coal.
See footnotes on page 6.
3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
Interest 2001 2001 2002 2002 2002 2001 2002
COPPER
Mine production
('000 tonnes)
Alumbrera
25% 12.0 12.3 12.8 12.8 11.5 35.6 37.0
Bingham Canyon
100% 73.1 67.2 62.5 64.3 64.4 245.5 191.2
Escondida
30% 59.2 53.2 48.7 61.0 47.9 179.2 157.6
Grasberg -
FCX (g)
15% 22.9 21.2 21.0 26.4 30.0 72.3 77.4
Grasberg -
Joint Venture (g)
40% 23.0 19.1 28.4 39.1 39.6 75.3 107.1
Neves Corvo
49% 8.4 10.5 9.0 10.8 8.5 30.2 28.3
Northparkes
80% 11.4 11.0 9.5 8.4 6.7 33.1 24.6
Palabora (h)
49% 12.5 11.2 8.6 5.5 6.0 27.2 20.1
Rio Tinto total
mine production 222.7 205.8 200.6 228.3 214.4 698.4 643.3
Refined production
('000 tonnes)
Atlantic Copper (g)
17% 10.5 10.7 10.3 10.5 10.2 28.4 31.0
Escondida
30% 11.4 11.4 11.0 11.3 9.3 33.9 31.6
Kennecott Utah Copper
100% 43.7 67.3 74.9 76.1 68.1 167.0 219.1
Palabora (h)
49% 9.9 11.0 8.0 10.8 11.3 31.5 30.1
Rio Tinto total
refined production 75.5 100.4 104.2 108.7 99.0 260.8 311.8
DIAMONDS
Production ('000 carats)
Argyle (i)
100% 8,032 7,929 6,143 8,411 9,013 18,116 23,567
Merlin 100% 13 20 34 22 33 35 90
Rio Tinto
total diamond
production 8,045 7,950 6,177 8,433 9,046 18,151 23,656
GOLD
Mine production ('000 ounces)
Alumbrera
25% 44 47 51 49 40 121 140
Barneys Canyon
100% 32 41 27 22 16 99 65
Bingham Canyon
100% 142 120 125 95 103 472 323
Cortez/Pipeline
40% 118 118 111 118 101 357 330
Escondida
30% 7 8 8 12 7 22 27
Grasberg -
FCX (g)
15% 99 70 52 69 131 317 252
Grasberg -
Joint Venture (g)
40% 220 199 86 141 208 680 435
Greens Creek
70% 15 15 17 20 18 46 55
Kelian
90% 117 110 103 115 158 298 376
Lihir
16% 29 20 24 25 22 85 71
Morro do Ouro
51% 23 24 28 30 30 71 88
Northparkes
80% 7 9 9 8 9 25 26
Peak
100% 28 25 27 20 30 76 77
Rawhide
51% 13 12 12 11 9 39 32
Rio Tinto Zimbabwe
56% 9 8 6 6 5 30 17
Others - 2 3 2 2 2 7 6
Rio Tinto total
mine production 906 830 687 745 890 2,747 2,322
Refined production
('000 ounces)
Kennecott
Utah Copper
100% 88 112 127 133 123 277 383
IRON ORE
Production ('000 tonnes)
Channar
60% 1,622 1,929 1,517 1,446 1,454 4,724 4,417
Corumba
100% 206 164 104 201 282 478 587
Hamersley
100% 15,748 15,149 14,653 14,078 15,711 43,679 44,442
Iron Ore Company
of Canada (j)
56% 2,028 1,841 1,815 2,189 1,296 6,328 5,300
Robe River
53% 4,607 4,379 4,418 3,686 5,345 11,895 13,448
Rio Tinto
total mine production 24,212 23,462 22,507 21,600 24,087 67,104 68,194
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, except for the data for iron ore which
represent production of saleable quantities of ore plus pellets.
See footnotes on page 6.
3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
Interest 2001 2001 2002 2002 2002 2001 2002
LEAD
Mine production
('000 tonnes)
Greens Creek
70% 3.7 3.7 3.7 4.6 3.5 10.6 11.9
Zinkgruvan
100% 5.8 6.1 4.7 4.9 9.2 18.4 18.7
Rio Tinto
total mine
production 9.5 9.8 8.4 9.5 12.7 29.0 30.6
MOLYBDENUM
Mine production ('000 tonnes)
Bingham Canyon
100% 1.5 1.6 1.7 1.3 1.7 6.5 4.7
NICKEL
Nickel in matte (tonnes)
Fortaleza
100% 2,989 1,984 2,063 1,290 510 8,186 3,863
Total refined metal production (tonnes)
Rio Tinto
Zimbabwe - Empress
56% 992 892 943 835 987 2,827 2,765
SALT
Production ('000 tonnes)
Dampier Salt
65% 1,007 1,322 1,103 1,085 1,223 2,926 3,411
SILVER
Mine production ('000 ounces)
Bingham Canyon
100% 1,076 1,042 1,032 924 866 3,433 2,822
Escondida
30% 227 212 209 244 182 748 635
Grasberg - FCX (g)
15% 162 141 151 201 233 559 585
Grasberg -
Joint Venture (g)
40% 178 193 115 193 264 448 572
Greens Creek
70% 1,814 1,809 1,960 2,029 1,955 5,895 5,943
Zinkgruvan
100% 326 427 324 302 545 1,069 1,171
Others - 396 447 401 425 383 1,281 1,209
Rio Tinto total
mine production 4,180 4,272 4,192 4,318 4,427 13,432 12,938
Refined production ('000 ounces)
Kennecott
Utah Copper
100% 626 765 790 1,104 1,178 2,117 3,072
TALC
Production ('000 tonnes)
Luzenac Group
99.9% 311 315 322 346 341 952 1,009
TIN
Mine production (tonnes)
Neves Corvo
49% 192 72 123 36 - 517 159
TITANIUM DIOXIDE FEEDSTOCK
Production
('000 tonnes)
Rio Tinto Iron &
Titanium
100% 359 341 328 318 309 1,086 955
URANIUM
Production (tonnes U3O8)
Energy Resources
of Australia
68% 540 790 650 668 773 2,090 2,092
Palabora (h) 49% 4 - - - - 15 -
Rossing 69% 544 462 510 463 580 1,348 1,553
Rio Tinto total
uranium production 1,087 1,252 1,160 1,131 1,353 3,453 3,644
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 on page 6.
3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
Interest 2001 2001 2002 2002 2002 2001 2002
ZINC
Mine production ('000 tonnes)
Greens Creek
70% 10.6 10.5 11.4 12.4 11.1 30.3 34.9
Zinkgruvan
100% 15.1 16.6 11.1 10.4 13.6 45.2 35.1
Rio Tinto total
mine production 25.7 27.1 22.5 22.8 24.7 75.5 69.9
Refined production ('000 tonnes)
Norzink (k)
0% - - - - - 20.4 -
(a) Comalco increased its holding in Queensland Alumina Limited from 30.3%to
38.6%, with effect from September 2001.
(b) Comalco acquired an approximately 5% additional interest in production
from the Boyne Island smelter with effect from August 2002.
(c) Rio Tinto increased its stake in Coal & Allied from 70.9% to 7during
March 2001 and to 75.7% on 17 September 2002.
(d) Production data are shown from 29 January 2001, the effective date of
Coal & Allied's acquisition of the Australian coal businesses of the Peabody
Group. Effective on the same date, Coal & Allied acquired an additional 11.8%
interest in the Warkworth mine. On 14 March 2002, Coal & Allied completed the
sale of its interests in Narama and Ravensworth. Coal & Allied sold its
interest in the Moura coal mine with effect from 24 May 2002. Production data
are shown up to the dates of sale.
(e) 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.
(f) 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.
(g) Through its interest in Freeport-McMoRan-Copper & Gold (FCX), Rio Tinto
had, as of 30 September 2002, a 15.0% share in the Grasberg mine and a 16.5%
share in Atlantic Copper. Through a joint venture agreement with FCX, Rio
Tinto is entitled, as shown separately in the above tables, to 40% of
additional material mined as a consequence of the expansion of the Grasberg
facilities in 1998.
(h) In July 2001, Rio Tinto increased its holding in Palabora from 48.6% to
49.2%.
(i) Rio Tinto's interest in the Argyle Diamond mine increased from 99.8% to
100% on 29 April 2002, following the purchase of the outstanding units in the
Western Australian Diamond Trust.
(j) During the first half of 2001, Rio Tinto acquired 20.3% of the Labrador
Iron Ore Royalty Income Fund. The Fund has a shareholding in Iron Ore Company
of Canada but this has not been included in the calculation of tonnage
attributable to Rio Tinto.
(k) Rio Tinto completed the sale of its interest in Norzink on 17 April 2001.
Where Rio Tinto's beneficial interest in an operation has changed, as
indicated above, the share of production has been calculated using the
weighted average interest over the relevant periods.
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