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: LONDON MELBOURNE Media Relations Media Relations Hugh Leggatt Ian Head + 44 (0)20 7753 2273 + 61 (0)3 9283 3620 Investor Relations Investor Relations Peter Cunningham Dave Skinner + 44 (0)20 7753 2401 + 61 (0)3 9283 3628 Richard Brimelow Daphne Morros + 44 (0)20 7753 2326 + 61 (0)3 9283 3639 Website: www.riotinto.com 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. MORE TO FOLLOW This information is provided by RNS The company news service from the London Stock Exchange QRTMGMZGRFGGZZG

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