Rio Tinto Production Report Quarter to 31 Dec 1999

Rio Tinto PLC 27 January 2000 Rio Tinto Quarterly Production Report For the Quarter Ending 31 December 1999 - Coal production in the last quarter of 1999 continued at the high levels achieved in the third quarter. Total coal production in 1999 at 139 million tonnes was 22% higher than that in 1998. - Aluminium production in the fourth quarter was 9% higher than the comparable quarter of 1998 and was also 9% higher for the whole of 1999 compared with 1998 reflecting higher production at the smelters and Rio Tinto's increased stake in Comalco. - At Hamersley Iron, strong demand continued with shipments of 16.7 million tonnes in the last quarter raising total shipments for the year to 59.6 million tonnes, the second highest annual level ever. - Gold mined in the fourth quarter increased by 2% compared with the third quarter with a larger contribution from Grasberg. Production for the year rose by 6% to just under three million ounces. - Copper production in the fourth quarter was down marginally from the third quarter. For the year, production was only down 3% with higher output from Escondida offsetting, in part, the expected fall back from the exceptional contribution from the Grasberg joint venture in 1998. - The preliminary financial results for 1999 are planned to be released on 24th February, 2000. For further information contact: Media Relations Investor Relations Alexis Fernandez Peter Jarvis + 44 20 7753 2305 + 44 20 7753 2401 RIO TINTO PRODUCTION SUMMARY RIO TINTO share of production Full % Change Quarter Year Q499 Q499 1998 1998 1999 1999 1998 1999 vs vs vs Q4 Q3 Q4 Q399 Q498 1999 Principal Commodities Copper - mined ('000 t) 241.5 213.2 211.8 888.5 859.8 -1% -12% -3% Copper - refined ('000 t) 94.4 99.7 104.3 326.3 388.2 5% 10% 19% Gold - mined ('000ozs) 886 770 785 2,818 2,987 2% -11% 6% Gold - refined ('000 ozs) 70 86 96 290 346 12% 36% 19% Iron ore ('000 t) 13,165 13,785 13,579 52,589 51,830 -1% 3% -1% Coal ('000 t) 34,537 36,073 35,904 113,731 139,177 0% 4% 22% Aluminium ('000 t) 131.7 141.6 143.6 510.3 557.8 1% 9% 9% Borates ('000 t) 132 140 133 587 561 -5% 1% -4% Titanium dioxide feedstock ('000 t) 394 347 350 1,541 1,428 1% -11% -7% Other Metals & Minerals Bauxite ('000 t) 1,977 2,055 2,298 6,607 8,506 12% 16% 29% Diamonds ('000 cts) 5,406 4,720 4,430 24,384 17,730 -6% -18% -27% Lead - mined ('000 t) 5.6 5.4 4.7 21.2 20.9 -13% -16% -1% Molybdenum ('000 t) 1.9 1.3 1.6 6.3 6.3 25% -19% 0% Nickel in matte (tonnes) 1,923 2,620 2,928 4,670 9,445 12% 52% 102% Nickel - refined (tonnes) 999 1,011 969 3,607 3,942 -4% -3% 9% Salt ('000 t) 697 835 920 2,980 3,409 10% 32% 14% Silver - mined ('000 ozs) 4,212 4,099 4,093 16,232 15,973 0% -3% -2% Silver - refined ('000 ozs) 718 1,160 775 2,610 4,291 -33% 8% 64% Talc ('000 t) 289 321 313 1,194 1,268 -2% 8% 6% Tin (tonnes) 283 448 150 1,441 1,057 -67% -47% -27% Uranium (tonnes) 478 567 504 2,265 2,217 -11% 6% -2% Zinc - mined ('000 t) 19.1 19.2 17.1 70.8 74.5 -11% -11% 5% Zinc - refined ('000 t) 20.5 21.6 21.3 82.3 85.0 -1% 4% 3% 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 Full 4Q 1Q 2Q 3Q 4Q Year Year Interest 1998 1999 1999 1999 1999 1998 1999 COPPER Mine production ('000 tonnes) Kennecott Utah Copper 100% 84.4 79.4 68.9 67.2 63.7 298.2 279.3 Escondida 30% 60.4 74.6 77.8 75.8 71.4 258.5 299.7 Grasberg - FCX(a) 13% 24.8 20.9 21.2 21.7 20.5 78.9 84.3 Grasberg - Joint Venture(a) 40% 40.5 19.9 24.8 23.1 27.4 136.2 95.2 Neves Corvo 49% 14.3 13.0 12.2 12.3 11.8 56.1 49.3 Palabora (b) 46% 17.1 12.3 9.8 12.9 17.0 60.7 52.0 Rio Tinto total mine production 241.5 220.1 214.7 213.2 211.8 885.0 859.8 Refined production ('000 tonnes) Kennecott Utah Copper 100% 70.8 53.9 71.9 69.2 70.3 238.8 265.4 Palabora(b) 46% 12.8 11.8 9.6 11.3 13.9 45.1 46.5 Atlantic Copper(a) 15% 9.2 9.2 9.2 8.8 9.5 33.7 36.8 Escondida 30% 1.6 8.9 9.7 10.4 10.5 8.7 39.5 Rio Tinto total refined production 94.4 83.8 100.4 99.7 104.3 326.3 388.2 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% 3 14 0 0 0 3 0 Escondida 30% 123 126 105 96 104 123 104 Grasberg (a) 13% 60 39 59 40 56 60 56 Neves Corvo 49% 13 9 9 9 9 13 9 Rio Tinto total 199 188 173 145 169 199 169 Priced at US c/lb average 67 63 75 81 84 67 84 GOLD Mine production ('000 ounces) Kennecott Utah Copper 100% 100 96 87 95 88 366 367 Grasberg - FCX(a) 13% 103 76 77 83 72 270 308 Grasberg - Joint Venture (a) 40% 254 148 150 140 196 625 633 Kelian 90% 107 93 91 111 102 414 396 Ridgeway 100% 22 20 23 26 12 99 81 Barneys Canyon 100% 29 18 26 25 43 83 112 Morro do Ouro 51% 22 21 22 26 28 92 96 Rawhide 51% 16 13 15 16 14 64 58 Peak 100% 22 37 32 33 38 112 140 Cortez/Pipeline 40% 150 126 135 143 127 456 532 Escondida 30% 11 11 12 12 10 45 45 Rio Tinto Zimbabwe 56% 11 10 10 10 10 41 40 Lihir 17% 22 22 25 32 28 89 107 Others: - 17 19 17 19 18 63 73 Rio Tinto total mine production 886 712 720 770 785 2,818 2,987 Refined production('000 ounces) Kennecott Utah Copper 100% 70 82 83 86 96 290 346 IRON ORE Production ('000 tonnes) Hamersley 100% 11,134 10,002 11,437 11,778 11,780 45,580 44,997 Channar 60% 1,818 1,322 1,268 1,772 1,705 6,053 6,066 Corumba 80% 213 211 227 235 94 956 767 Rio Tinto total mine production 13,165 11,535 12,932 13,785 13,579 52,589 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 Full 4Q 1Q 2Q 3Q 4Q Year Year Interest 1998 1999 1999 1999 1999 1998 1999 COAL US coal operations ('000 tonnes) Kennecott Energy Cordero Rojo (d) 100% S 9,240 9,586 10,369 10,352 11,129 33,576 41,436 Antelope 100% S 4,993 4,590 5,183 5,548 5,258 17,616 20,579 Spring Creek 100% S 3,072 2,500 2,490 2,490 2,495 10,263 9,975 Decker 50% S 1,129 1,162 988 1,253 1,574 4,779 4,977 Colowyo (e) 100% S 1,344 1,155 1,284 1,197 1,417 5,283 5,053 Jacobs Ranch (f) 100% S 7,265 6,189 6,750 6,416 7,016 12,625 26,371 Total US coal 27,043 25,182 27,064 27,256 28,889 84,142 108,391 Australian coal operations ('000 tonnes) Pacific Coal: Blair Athol (g) 57% S 1,426 1,999 2,011 2,088 1,817 6,046 7,915 Kestrel Coal(h) 80% S - - 70 183 171 - 424 80% m - - 96 503 284 - 883 Tarong Coal 100% S 1,219 1,155 1,461 1,325 1,176 5,030 5,116 Coal & Allied Industries: Hunter Valley Operations (i) 71% S 1,262 1,121 1,076 1,257 829 5,323 4,284 71% M 673 556 458 661 443 2,171 2,118 Mount Thorley 57% S&M 756 734 672 684 547 2,216 2,637 Vickery (j) 71% S - - - - - 286 - Total Australian coal 5,337 5,565 5,844 6,701 5,267 21,072 23,377 Indonesian coal operations ('000 tonnes) Kaltim Prima Coal (j) 50% S 1,952 1,776 1,582 2,018 1,631 7,364 7,007 South American coal operations ('000 tonnes) Oreganal/Carbones del Cerrejon (k) 33% S 205 93 93 98 118 1,048 402 Copelmi (l) 0% S - - - - - 105 - Total South American coal operations 205 93 93 98 118 1,152 402 Rio Tinto total coal production 34,537 32,616 34,583 36,073 35,904 113,731 139,177 ALUMINIUM / BAUXITE Beneficiated bauxite ('000 tonnes) Weipa (m) 72% 1,868 2,068 1,934 2,016 2,170 6,316 8,188 Boke (m) 3% 109 76 75 38 128 291 317 Rio Tinto total bauxite production 1,977 2,143 2,010 2,055 2,298 6,607 8,506 Aluminium ('000 tonnes) Comalco (m) 72% 114.3 115.9 121.8 124.3 125.9 441.4 487.9 Anglesey 51% 17.4 17.5 17.4 17.3 17.7 69.0 69.9 Rio Tinto total aluminium production 131.7 133.4 139.3 141.6 143.6 510.3 557.8 BORATES Borates ('000 tonnes B2O3 content) Rio Tinto total borate production 100% 132 146 142 140 133 587 561 TITANIUM DIOXIDE FEEDSTOCK Production ('000 tonnes) Rio Tinto Iron & Titanium 100% 394 377 354 347 350 1,541 1,428 Key to coal type: S = Steam/ thermal coal, M = Metallurgical/ coking coal See footnotes below OTHER METALS & MINERALS Rio Tinto Share of Production Full Full 4Q 1Q 2Q 3Q 4Q Year Year Interest 1998 1999 1999 1999 1999 1998 1999 DIAMONDS Production ('000 carats) Argyle 60% 5,406 4,244 4,337 4,720 4,430 24,384 17,730 LEAD Mine production ('000 tonnes) Various - 5.6 5.3 5.4 5.4 4.7 21.2 20.9 MOLYBDENUM Mine production ('000 tonnes) Kennecott Utah Copper 100% 1.9 2.1 1.4 1.3 1.6 6.3 6.3 NICKEL Matte production (tonnes) Fortaleza (n) 100% 1,923 2,171 1,726 2,620 2,928 4,670 9,445 Toll refined metal production (tonnes) Rio Tinto Zimbabwe - Empress 56% 999 926 1,036 1,011 969 3,607 3,942 SALT Production ('000 tonnes) Dampier 65% 697 714 941 835 920 2,980 3,409 SILVER Mine production ('000 ounces) Kennecott Utah Copper 100% 1,140 1,109 905 959 886 4,247 3,859 Greens Creek 13% 1,561 1,547 1,954 1,810 1,902 6,676 7,213 Grasberg - FCX (a) 13% 196 121 148 147 147 523 563 Grasberg - Joint Venture (a) 40% 370 50 61 194 133 790 438 Others: - 945 960 927 989 1,025 3,996 3,900 Rio Tinto total 4,212 3,787 3,994 4,099 4,093 16,232 15,973 Refined production ('000 ounces) Kennecott Utah Copper 100% 718 1,202 1,154 1,160 775 2,610 4,291 TALC Production ('000 tonnes) Luzenac Group 99.9% 289 310 325 321 313 1,194 1,268 TIN Mine production (tonnes) Neves Corvo 49% 283 219 241 448 150 1,441 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 Full 4Q 1Q 2Q 3Q 4Q Year Year Interest 1998 1999 1999 1999 1999 1998 1999 URANIUM Production (tonnes U3O8) Rossing 69% 470 576 549 557 493 2,234 2,175 Palabora (b) 46% 8 10 11 10 11 32 42 Rio Tinto total uranium production 478 587 559 567 504 2,265 2,217 ZINC Mine production ('000 tonnes) Various - 19.1 19.4 18.9 19.2 17.1 70.8 74.5 Refined production ('000 tonnes) Norzink 50% 17.2 18.5 17.5 18.2 17.9 69.0 72.0 Others: - 3.3 2.9 3.1 3.5 3.5 13.3 13.0 Rio Tinto total refined zinc production 20.5 21.4 20.6 21.6 21.3 82.3 85.0 (a) Copper contained in oxide and sulphide ores has been included since the fourth quarter of 1998 when the new oxide plant was commissioned. (b) 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 December 1999, Rio Tinto had, by virtue of its FCX shareholding, a 12.6% share in Grasberg and a 14.6% 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. (c) Rio Tinto increased its interest in Palabora Mining Company from 38.9% to 46.5% on 10 June 1998. Rio Tinto's share of production has been calculated using the weighted average of Rio Tinto's interest over the relevant periods. (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) Rio Tinto acquired the Jacobs Ranch mine in Wyoming, US, with effect from 23 July 1998. (g) On 10 January 1999, Rio Tinto increased its beneficial interest in the Blair Athol mine from 57.2% to 71.2%. (h) Rio Tinto acquired Kestrel Coal, formerly Gordonstone, in February 1999 and production commenced in June 1999. (i) Coal & Allied has purchased the Rio Tinto coal interests in New South Wales that were previously held under the Novacoal name. Coal & Allied has 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 70.88% interest. Rio Tinto's share of production for quarters prior to 1 July 1999 is reported in line with the pre-merger shareholdings. (j) The Vickery mine was closed on 31 May 1998. The last stockpiled coal was sold in the first quarter of 1999. (k) 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. (l) Rio Tinto disposed of its interest in Carbones del Cerrejon with effect from 1 January 2000. (m) As a consequence of restructuring, with effect from 1 April 1998, Rio Tinto ceased to have any direct interest in the production from Copelmi's Recreio mine. (n) Production figures derived for Comalco reflect Comalco's share of primary production from its wholly owned or managed smelters. Rio Tinto increased its interest in Comalco from 67.0% to 70.4% during 1998. During the first half of 1999 Rio Tinto increased its interest in Comalco from 70.4% to 72.4%. Rio Tinto's share of production has been calculated using the weighted average of Rio Tinto's interest over the relevant periods. COPPER & GOLD Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Kennecott Utah Copper Total production at Kennecott's Bingham Canyon mine, smelter and refinery (Rio Tinto 100%) and Barneys Canyon mine (Rio Tinto 100%) in Utah, US. Bingham Canyon Mine Ore treated ('000 tonnes) 14,326 14,316 14,563 14,523 13,191 52,297 56,595 Average ore grade: Copper (%) 0.65 0.61 0.53 0.53 0.53 0.62 0.55 Gold (g/t) 0.32 0.31 0.28 0.30 0.30 0.33 0.30 Silver (g/t) 3.29 3.15 2.71 2.85 2.67 3.29 2.85 Molybdenum (%) 0.034 0.035 0.033 0.031 0.031 0.034 0.033 Copper concentrates produced ('000 tonnes) 297 284 263 257 248 1,101 1,051 Average concentrate grade (% Cu) 28.0 27.5 25.6 25.7 25.5 26.5 26.1 Production of metals in copper concentrates: Copper ('000 tonnes)(a) 84.4 79.4 68.9 67.2 63.7 298.2 279.3 Gold ('000 ounces) 100 96 87 95 88 366 367 Silver ('000 ounces) 1,140 1,109 905 959 886 4,247 3,859 Molybdenum concentrates produced ('000 tonnes): 3.6 3.8 2.7 2.4 2.9 11.9 11.8 Molybdenum in concentrates ('000 tonnes) 1.9 2.1 1.4 1.3 1.6 6.3 6.3 Kennecott Smelter & Refinery Copper concentrates smelted ('000 tonnes) 245 236 264 300 266 1,078 1,065 Copper anodes produced ('000 tonnes) (b) 66.0 52.8 73.1 72.5 66.8 254.0 265.2 Production of refined metal: Copper ('000 tonnes) 70.8 53.9 71.9 69.2 70.3 238.8 265.4 Gold ('000 ounces) (c) 70 82 83 86 96 290 346 Silver ('000 ounces) (c) 718 1,202 1,154 1,160 775 2,610 4,291 (a) Includes a small amount of copper in precipitates. (b) New metal excluding recycled material. (c) Includes gold and silver in intermediate products. Lower ore grade for all metals in the fourth quarter of 1999, compared with the fourth quarter of 1998, resulted in lower production of all metals in copper concentrate. As previously indicated, the lower than life- of-mine average copper grades are expected to continue, before recovering in mid 2000. Compared with the third quarter of 1999, molybdenum concentrate production was up due to higher recovery. Refined gold and silver production increased in the fourth quarter of 1999 compared with the fourth quarter of 1998 largely due to increased treatment of in-process inventories. Compared with the third quarter of 1999, refined silver production was lower mainly due to lower ore grade and timing of intermediate product outturn. As shown above, no sales of copper were provisionally priced at 31 December 1999. Barneys Canyon Mine Ore treated ('000 tonnes) 515 490 623 676 542 1,946 2,331 Average ore grade: Gold (g/t) 1.50 1.98 1.63 2.31 3.69 1.61 2.38 Gold produced in dore and concentrates ('000 ounces) 29 18 26 25 43 83 112 Gold production in the fourth quarter of 1999 was higher than the fourth quarter of 1998 and the third quarter of 1999 principally due to higher ore grade. Freeport-McMoRan Copper & Gold Total production and sales at the Grasberg mine (Rio Tinto 12.6% (a)) in Irian Jaya, Indonesia, and the Atlantic Copper smelter (Rio Tinto 14.6%) in Spain. (100% basis) Grasberg Mine Ore treated ('000 tonnes) 19,377 19,953 19,730 20,410 20,468 71,702 80,561 Average mill head grades: Copper (%) 1.45 1.14 1.16 1.11 1.09 1.30 1.12 Gold (g/t) 2.05 1.31 1.39 1.40 1.37 1.49 1.37 Silver (g/t) 4.02 2.77 2.91 2.74 2.69 3.17 2.78 Production of metals in concentrates: Copper in concentrates ('000 tonnes) 241.8 186.5 193.8 196.0 190.2 809.1 766.5 Gold in concentrates ('000 ounces) 1,105 754 762 804 766 2,927 3,086 Silver in concentrates ('000 ounces) 1,984 1,016 1,235 1,365 1,301 5,251 4,917 Sales of payable metals in concentrates:(b) Copper in concentrates ('000 tonnes) 231.9 177.4 184.8 187.1 198.1 774.1 747.4 Gold in concentrates ('000 ounces) 1,023 723 741 788 795 2,774 3,047 Silver in concentrates ('000 ounces) 1,285 774 951 1,043 1,061 4,008 3,829 (a) See note (b) in the summary section above for details of Rio Tinto's 12.6% interest in Grasberg and 40% interest in the expansion. (b) Net of smelter deductions. In the fourth quarter of 1999,production of copper and gold marginally decreased compared with the third quarter of 1999 due largely to a reduction in ore grades. Copper and gold production in the fourth quarter was below that achieved in the corresponding period of 1998 due to significantly lower ore grades, partly offset by higher throughput. Atlantic Copper Concentrate smelted ('000 tonnes) 233.0 238.6 225.1 230.9 254.8 973.9 949.4 Copper anodes produced ('000 tonnes) (c) 69.1 74.4 69.7 70.0 79.4 291.4 293.5 Copper cathodes produced ('000 tonnes) 63.5 63.1 63.3 60.6 65.5 247.1 252.5 Copper cathode sales ('000 tonnes) (d) 63.0 62.8 62.7 62.1 65.7 246.9 253.3 (c) New metal excluding recycled material. (d) Refers to copper cathode and wire rod sales. Minera Escondida Limitada Total production at the Escondida mine (Rio Tinto 30%) in Chile. (100% basis) Escondida Mine Sulphide ore treated ('000 tonnes) 9,821 11,400 11,435 11,510 11,678 38,914 46,023 Average copper grade (%) 2.23 2.15 2.15 2.06 1.84 2.46 2.05 Mill production (metals in concentrates): Contained copper ('000 tonnes) 190.0 215.6 217.4 206.7 187.1 850.2 826.8 Contained gold ('000 ounces) 37 38 40 39 32 150 150 Contained silver ('000 ounces) 743 915 1,038 854 718 3,068 3,525 Oxide ore treated ('000 tonnes) 1,049 3,346 3,595 3,777 4,020 1,049 14,738 Average copper grade (%) 1.08 0.99 1.16 1.22 1.26 1.08 1.17 Contained copper in leachate/mined material ('000 tonnes) 11 33 42 46 51 11 172 Refined production: Oxide plant production ('000 tonnes) 5.4 29.7 32.4 34.6 35.1 5.4 131.8 Coloso leach plant production ('000 tonnes) - - - - - 23.6 - Sulphide ore treated during the fourth quarter of 1999 was significantly higher than the corresponding period in 1998 due to the increased milling rate arising from the completion of the Phase 3.5 expansion. Contained copper in concentrate during the fourth quarter was slightly lower than the corresponding period in 1998 despite the increase in ore treated reflecting the expected decrease in copper head grade in line with the long term mine plan. The Coloso leach plant was closed in 1998. Somincor Total production at the Neves Corvo mine (Rio Tinto 49%) in Portugal. (100% basis) ('000 tonnes)(a) 615 558 543 592 517 2,290 2,210 Of which, treated to extract tin ('000 tonnes) 114 113 85 97 55 479 350 Average ore grades: Copper (%) 5.37 5.35 5.00 4.95 5.20 5.61 5.12 Tin (%) 1.33 1.12 1.29 1.43 1.25 1.44 1.27 Copper production: Copper concentrates produced ('000 tonnes) 120.7 109.2 103.0 104.4 101.1 468.9 417.8 Copper concentrate grade (% copper) 24.2 24.2 24.1 24.1 23.8 24.4 24.1 Copper in concentrates produced ('000 tonnes) 29.2 26.5 24.9 25.2 24.0 114.4 100.5 Tin production: Tin concentrates produced ('000 tonnes) 1.1 0.9 0.9 1.8 0.6 5.6 4.2 Tin concentrate grade (% tin) 53.1 50.0 51.9 49.9 53.2 52.8 50.8 Tin in concentrates produced ('000 tonnes) 0.6 0.4 0.5 0.9 0.3 2.9 2.2 (a) Total ore treated for both copper and tin production. COPPER & GOLD (continued) Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Palabora Mine Total production at the Palabora mine, smelter and refinery (Rio Tinto 46.5% (a)) in South Africa. (100% basis) Palabora Mine Ore treated ('000 tonnes) 7,361 6,791 7,080 7,419 7,053 28,759 28,343 Average ore grade (copper %) 0.60 0.46 0.35 0.46 0.62 0.58 0.47 Copper concentrates produced ('000 tonnes) 110.4 80.8 61.5 82.4 108.7 418.3 333.4 Average concentrate grade (copper %) 33.3 32.7 34.2 33.8 33.7 33.6 33.5 Copper in concentrates ('000 tonnes) 36.8 26.4 21.0 27.9 36.6 140.6 111.9 Palabora Smelter/Refinery New concentrate smelted on site ('000 tonnes) 77.6 73.8 51.5 79.6 80.2 290.7 285.1 New copper anodes produced ('000 tonnes)(b) 27.8 24.1 20.9 24.7 31.3 105.6 101.0 Refined new copper produced ('000 tonnes) 27.5 25.4 20.6 24.3 29.9 104.1 100.1 By-products: Magnetite concentrate ('000 tonnes) 57 31 49 41 70 214 190 Uranium oxide (tonnes) 17 23 23 21 24 74 91 Baddeleyite (several grades) ('000 tonnes) 1.8 2.4 3.0 2.6 3.1 10.0 11.1 Refined nickel sulphate (tonnes) 105 30 52 57 106 288 246 Vermiculite Plant Vermiculite produced ('000 tonnes) 53.4 53.0 54.1 49.4 52.1 209.7 208.6 (a) Rio Tinto increased its interest in Palabora Mining Company from 38.9% to 46.5% on 10 June 1998. Rio Tinto's share of production has been calculated from a weighted average of Rio Tinto's interest over the appropriate periods. (b) Contained copper in anodes; anode production includes a small amount produced from purchased material. The decrease in copper concentrate production during 1999, compared with 1998, was due to lower head grades. The expected reduction in head grade results from loading of low grade stockpiles from 1999 until the end of open pit life in 2003. Concentrate smelted in 1999 was below 1998 levels as a result of availability problems in the converter and anode sections. This led to reduced anode and refined copper production. The decrease in magnetite production resulted from the lower magnetite content in the marginal ore processed through the magnetite circuit. Uranium oxide production improved over 1998 due to an increase in uranium in the feed. Rio Tinto Brasil Limitada Total production at the Morro do Ouro gold mine (Rio Tinto 51%) in Minas Gerais, Brazil. (100% basis) Morro do Ouro Mine Ore treated ('000 tonnes) 3,905 3,959 4,176 4,487 4,853 15,613 17,475 Average ore grade: gold (g/t) 0.46 0.45 0.45 0.45 0.46 0.48 0.45 Refined gold produced ('000 ounces) 43 42 43 50 54 181 189 COPPER & GOLD (continued) Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Kennecott Minerals Company Total production at the mines of Kennecott Minerals Company in the US; Rawhide (Rio Tinto 51%) in Nevada; Ridgeway (Rio Tinto 100%) in South Carolina, Cortez/Pipeline (Rio Tinto 40%) in Nevada and Greens Creek (Rio Tinto 70%)in Alaska. (100% basis) Rawhide Mine Ore treated ('000 tonnes) 1,470 1,522 1,611 1,559 1,437 5,435 6,129 Average ore grades: Gold (g/t) 0.86 0.89 0.82 0.75 0.99 0.86 0.86 Silver (g/t) 9.1 8.9 9.7 10.2 18.7 10.6 11.7 Metals produced in dore: Gold ('000 ounces) 32 26 29 31 27 125 113 Silver ('000 ounces) 165 141 157 169 184 843 651 Mill throughput rates declined from previous record levels due to harder ore and additional maintenance requirements. Ore grades for both gold and silver increased in the fourth quarter of 1999 as a result of mining sequence. Ridgeway Ore treated ('000 tonnes) 1,023 873 981 871 435 4,255 3,160 Average ore grades: Gold (g/t) 0.89 0.99 1.12 1.18 1.10 0.89 1.10 Silver (g/t) 1.1 1.2 1.1 1.1 1.1 1.0 1.1 Metals produced in dore: Gold ('000 ounces) 22 20 23 26 12 99 81 Silver ('000 ounces) 18 20 14 15 9 72 58 Gold production ceased in November 1999. Efforts are now focused on reclamation. Cortez / Pipeline Ore treated ('000 tonnes) 969 932 980 1,022 901 3,811 3,835 Average ore grade: gold (g/t) 11.44 10.22 11.02 11.58 11.94 8.99 11.19 Gold produced in dore ('000 ounces) 376 316 337 358 318 1,139 1,329 Mill throughput declined with the Cortez Mill (No.1) being shut down in October due to ore being shifted from milling to leaching. Higher leach recoveries and reduced leaching costs accounted for the shift. The mill ore grade improved as additional lower grade material shifted to the leach pads. Greens Creek Ore treated ('000 tonnes) 133 128 131 131 135 490 525 Average ore grades: Gold (g/t) 5.83 8.56 7.29 7.31 6.0 5.83 7.27 Silver (g/t) 683 735 877 809 820 780 811 Zinc (%) 12.9 14.7 13.7 14.2 11.4 11.9 13.5 Lead (%) 5.6 5.9 5.9 5.9 4.8 5.1 5.6 Metals produced in concentrates: Gold ('000 ounces) 17 23 20 20 17 61 80 Silver ('000 ounces) 2,221 2,201 2,780 2,575 2,705 9,497 10,261 Zinc ('000 tonnes) 14.4 15.4 14.4 15.0 12.2 49.2 57.0 Lead ('000 tonnes) 5.4 5.3 5.4 5.5 4.4 19.0 20.6 The mine and mill continued to implement productivity improvements and consistently exceeded design throughput. Metal grades varied based on the mining sequence, with an increase in silver grades and a decline in the other metals. Peak Gold Mine Total production and sales from the Peak Gold mine (Rio Tinto 100%) at Cobar, New South Wales, Australia. Ore treated ('000 tonnes) 135 153 145 152 148 528 598 Average ore grades: Gold (g/t) 5.22 7.97 7.16 7.11 8.10 6.92 7.60 Silver (g/t) 4.55 7.41 5.46 3.81 4.63 4.87 5.34 Copper (%) 0.21 0.56 0.51 0.56 0.40 0.43 0.51 Lead (%) 0.49 0.66 0.48 0.51 0.85 0.65 0.63 Zinc (%) 0.50 0.77 0.37 0.43 0.87 0.73 0.61 Bullion produced ('000 ounces) 24 39 33 33 38 122 143 Containing: Gold ('000 ounces) 21 35 29 28 35 102 126 Silver ('000 ounces) 2 3 3 3 3 13 12 Gold recovered in concentrates ('000 ounces) 1 3 3 4 3 9 13 Total gold production ('000 ounces) 22 38 32 32 38 112 140 Bullion sales (fine gold) ('000 ounces) 21 35 29 27 31 102 122 Copper in concentrate ('000 tonnes): Production 0.1 0.5 0.4 0.5 0.3 1.4 1.7 Sales - - 0.9 - - 2.0 0.9 Lead/zinc in concentrate ('000 tonnes): Production 0.2 0.4 0.5 0.2 1.0 1.7 2.1 Sales 0.4 0.4 - 0.8 0.5 3.3 1.7 Ore treated decreased in the fourth quarter of 1999, however total gold production increased due to higher ore grades. Kelian Equatorial Mining Total production and sales from the Kelian gold mine (Rio Tinto 90%) in East Kalimantan, Indonesia. (100% basis) Ore treated ('000 tonnes) 2,095 1,841 1,918 1,900 2,014 7,773 7,673 Average ore grades: Gold (g/t) 2.54 2.26 2.13 2.62 2.30 2.77 2.33 Silver (g/t) 4.51 4.24 4.00 4.25 4.22 5.82 4.18 Production: Gold ('000 ounces) 119 103 101 123 113 460 440 Silver ('000 ounces) 84 89 84 87 85 420 345 Sales: Gold ('000 ounces) 125 108 103 115 122 469 448 Silver ('000 ounces) 93 112 97 90 80 365 379 Gold production was lower in the fourth quarter of 1999 than in the third quarter of 1999 due to higher rainfall levels restricting access to higher grade ore in the dropcut in the bottom of the pit. COPPER & GOLD (Continued) Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Lihir Gold Total production at the Lihir gold mine (Rio Tinto 17.15%) in Papua New Guinea. (100% basis) Ore treated ('000 tonnes) 553 603 655 841 812 2,353 2,911 Average ore grade: gold (g/t) 7.32 7.24 6.95 7.38 6.62 6.94 7.04 Gold produced ('000 ounces) (a) 127 128 143 188 166 520 625 (a) Gold production represents quantity of gold poured. Record gold production was achieved in December. Rio Tinto Zimbabwe Total production at Rio Tinto Zimbabwe's gold operations (Rio Tinto 56.0%) in Zimbabwe. (100% basis) Renco Mine Ore treated ('000 tonnes) 76 79 75 81 74 305 309 Average ore grade: gold (g/t) 5.56 5.42 5.23 5.33 5.21 5.58 5.30 Total gold produced ('000 ounces) 12 12 11 12 11 48 46 Patchway Mine (a) Ore treated ('000 tonnes) 21 23 24 25 26 90 98 Average ore grade: gold (g/t) 7.31 5.81 5.51 5.58 5.34 5.90 5.55 Total gold produced ('000 ounces) 5 4 4 4 4 15 16 Cam Dump Reprocessing Ore treated ('000 tonnes) 259 251 248 237 226 976 962 Average ore grade: gold (g/t) 1.20 1.15 1.11 1.21 1.21 1.43 1.17 Total gold produced ('000 ounces) 2 2 2 2 3 9 9 Total Rio Tinto Zimbabwe Total gold produced ('000 ounces) 19 18 17 18 18 73 71 (a) Includes low grade material. IRON ORE Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Hamersley Iron Total production and shipments are for all the mines operated by Hamersley Iron (Rio Tinto 100%). These mines are Paraburdoo, Mount Tom Price, Marandoo, Yandicoogina, Brockman (all Rio Tinto 100%) and Channar (Rio Tinto 60%) all in Western Australia. (100% basis) Saleable iron ore produced ('000 tonnes): Paraburdoo, Mount Tom Price, Marandoo, Brockman and Yandicoogina 11,134 10,002 11,437 11,778 11,780 45,580 44,997 Channar 3,030 2,203 2,113 2,953 2,841 10,088 10,110 Total production 14,164 12,205 13,550 14,731 14,621 55,668 55,107 Total shipments ('000 tonnes) 14,279 10,710 15,666 16,485 16,732 53,089 59,593 Full year shipments in 1999 were the second highest ever, 2.3% less than the 61 million shipped in 1997. Demand for Yandi ore continues to be strong. First year Yandi shipments of 10.5 million tonnes exceeded original expectations. Full year production was adversely affected by high rainfall and low shipments in the first quarter, together with higher than planned Yandi sales which limited the rail capacity for other products. Rio Tinto Brasil Limitada Total production at the Corumba mine (Rio Tinto 100% (a)) in Corumba, Mato Grosso do Sul, Brazil. (100% basis) Total iron ore production ('000 tonnes) (b) 266 211 227 235 94 1,195 767 (a) Rio Tinto increased its interest in the Corumba mine, Brazil, from 80% to 100% during June 1999. (b) Production includes by-product fines. Production was cut back in the fourth quarter of 1999 because the river, which is used to ship product, was at historically low levels, restricting barge access. COAL Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Kennecott Energy and Coal Company Total production from the mines operated by Kennecott Energy and Coal Company in the US: Antelope (Rio Tinto 100%) in Wyoming; Cordero Rojo (Rio Tinto 100%) in Wyoming; Jacobs Ranch (Rio Tinto 100%) in Wyoming; Spring Creek (Rio Tinto 100%) in Montana; Decker (Rio Tinto 50%) in Montana and Colowyo in Colorado, where Kennecott Energy has a partnership interest and full management responsibility - (see footnote (e) above). (100% basis) Thermal coal production ('000 tonnes) Antelope 4,993 4,590 5,183 5,548 5,258 17,616 20,579 Cordero Rojo 9,240 9,586 10,369 10,352 11,129 33,576 41,436 Spring Creek 3,072 2,500 2,490 2,490 2,495 10,263 9,975 Decker 2,258 2,324 1,976 2,506 3,148 9,558 9,954 Colowyo 1,344 1,155 1,284 1,197 1,417 5,283 5,053 Jacobs Ranch (a) 7,265 6,189 6,750 6,416 7,016 12,625 26,371 Total Kennecott Energy Total coal production ('000 tonnes) 28,172 26,344 28,052 28,509 30,463 88,921 113,368 (a) Rio Tinto acquired the Jacobs Ranch mine in Wyoming with effect from 23 July 1998. Production in the fourth quarter of 1999 was 8% higher than the same period of 1998 primarily due to expanded capacity at Antelope and Cordero Rojo. Production was 27% higher in 1999 than in 1998 due to this increased capacity and the acquisition of Jacobs Ranch in July 1998. Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Pacific Coal Total production and sales from the Blair Athol mine (Rio Tinto 71.2% (a)), the Kestrel Coal mine (Rio Tinto 80% (b)) and the Tarong Coal mine (Rio Tinto 100%) in Queensland, Australia. (100% basis) Blair Athol Thermal coal: Production ('000 tonnes) 2,493 2,806 2,823 2,931 2,550 10,571 11,110 Sales ('000 tonnes) 2,490 2,569 3,334 2,636 2,885 10,892 11,424 Kestrel Coal Thermal coal: Production ('000 tonnes) - - 87 229 214 - 530 Sales ('000 tonnes) - - - 64 223 - 287 Coking coal: Production ('000 tonnes) - - 120 629 355 - 1,104 Sales ('000 tonnes) - - - 338 297 - 635 Semi-hard coking coal: (c) Sales ('000 tonnes) - - - 146 94 - 240 Tarong Coal Thermal coal: Production and sales ('000 tonnes) 1,219 1,155 1,461 1,325 1,176 5,030 5,116 Total Pacific Coal Total coal Production ('000 tonnes) 3,712 3,960 4,491 5,114 4,295 15,601 17,860 (a) On 10 January 1999, Rio Tinto acquired an additional 14% beneficial interest in Blair Athol. (b) Rio Tinto acquired Kestrel Coal, formerly Gordonstone, in February 1999 and production commenced in June 1999. (c) Semi-hard coking coal is a mixture of Thermal Coal and Coking Coal. The product mix is customer dependent. Tarong sales decreased in the fourth quarter of 1999 due to the mild weather conditions which resulted in the Tarong power station reducing its coal consumption. The last quarter sales at Blair Athol were increased by stockpiling of coal by some customers to insure against potential Y2K problems. This resulted in some shipments being brought forward from 2000 into 1999. Coal & Allied Industries Limited (a) Total production and sales from the Hunter Valley Operations (Rio Tinto 71%), Mount Thorley mine (Rio Tinto 57%), and the Vickery mine (Rio Tinto 71%), all in New South Wales, Australia. (100% basis) Hunter Valley Operations (b) Thermal coal Production ('000 tonnes) 1,954 1,726 1,649 1,773 1,170 8,183 6,319 Coking coal Production ('000 tonnes) 995 793 654 933 624 3,164 3,004 Mount Thorley Thermal coal: Production ('000 tonnes) 757 676 497 593 447 1,857 2,213 Coking coal: Production ('000 tonnes) 580 622 691 615 520 2,060 2,448 Vickery Thermal coal: Production ('000 tonnes) - - - - - 286 - Total Coal & Allied Total coal Production ('000 tonnes) 4,286 3,816 3,492 3,914 2,762 15,550 13,984 Total sales ('000 tonnes) (c) 4,793 3,887 3,326 3,722 2,728 16,366 13,663 (a) Coal & Allied has purchased the Rio Tinto Group's coal interests in New South Wales which included the Howick mine. The restructuring of Coal and Allied's shareholdings leaves Rio Tinto with a 70.88% interest; these transactions were effective from 1 July 1999. (b) Hunter Valley Operations consist of the now merged Howick and Hunter Valley mines. (c) Sales relate only to coal mined by the operation and exclude traded coal. Production for Hunter Valley Operations in 1999 was down on 1998 mainly due to higher production rates throughout 1998 which were necessary to complete contracts disrupted by industrial action in 1997 and due to higher domestic demand. Sales to a significant domestic customer were lower in 1999 due to a contractual dispute that resulted in lower delivered tonnage. Deliveries were suspended by the customer during the third quarter 1999 and are yet to resume. Mount Thorley mine production in 1999 was higher than in 1998, when there was an industrial dispute. During the fourth quarter 1999 production at both Hunter Valley and Mount Thorley was affected by industrial disputes and workplace restructuring. The Vickery mine closed on 31 May 1998. The last of the stockpiled coal was sold in the first quarter of 1999. COAL (Continued) Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Kaltim Prima Coal Total production and shipments from Kaltim Prima Coal (Rio Tinto 50%) in Indonesia, including the share of production attributed to the Indonesian Government (see footnote (k) above). (100% basis) Thermal coal: Production ('000 tonnes) 3,904 3,552 3,164 4,036 3,261 14,728 14,013 Shipments ('000 tonnes) 3,988 3,831 3,165 3,717 3,302 14,573 14,015 Carbones del Cerrejon SA Total production at the Central Cerrejon mine (Rio Tinto 33.3% (a)). (100% basis) Central Cerrejon Mine Thermal coal: Production ('000 tonnes) 616 280 280 295 352 3,143 1,207 (a) Rio Tinto disposed of its interest in Carbones del Cerrejon with effect from 1 January 2000. Rio Tinto Brasil Limitada Total production from Copelmi's Recreio mine in the Rio Grande do Sul, Brazil. As a consequence of a restructuring, with effect from 1 April 1998, Rio Tinto ceased to have any direct interest in the production from this mine; prior to that date, Rio Tinto had a 40% interest in the mine's production. (100% basis) Recreio Mine Thermal coal: Production ('000 tonnes) - - - - - 262 - ALUMINIUM Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 Comalco Production and sales from operations owned by Comalco (Rio Tinto 72.4% (a)) including Comalco's share of primary aluminium production from partly owned smelters. (100% of Comalco's share) ('000 tonnes) Weipa mine, Queensland (Comalco 100%): Beneficiated bauxite production 2,716 2,931 2,675 2,784 2,997 9,308 11,386 Metal grade bauxite shipments 2,612 2,513 2,665 3,019 2,997 9,789 11,194 Calcined bauxite production 47 20 32 27 34 133 112 Boke mine, Guinea (Comalco 4%): Bauxite production 159 107 104 53 177 429 441 Primary aluminium production: Bell Bay, Tasmania (Comalco 100%) 36.4 37.0 37.2 37.9 39.0 141.9 151.1 Boyne Island, Queensland (Comalco 54.2%) 65.7 64.2 66.8 68.0 68.7 257.3 267.7 Tiwai Point, New Zealand (Comalco 79.4%) 64.2 63.1 64.5 65.6 66.1 252.0 259.4 Total Comalco share 166.2 164.3 168.5 171.6 173.8 651.2 678.2 Total sales of Comalco produced aluminium 174.1 167.3 166.6 169.3 173.3 659.8 676.5 (a) During the first half of 1999 Rio Tinto increased its interest in Comalco from 70.4% to 72.4%. Rio Tinto's share of production has been calculated using the weighted average of Rio Tinto's interest over the relevant periods. Weipa achieved record production and shipments in 1999. The Bell Bay, Boyne Island and Tiwai Point smelters all achieved record daily average production. Production gains from higher amperages and process improvements continued. All cells have been online at Boyne Island Line 3 since late April 1999. Anglesey Aluminium Total production at Anglesey Aluminium (Rio Tinto 51%) in the UK. (100% basis) Aluminium hot metal production ('000 tonnes) 34.1 34.3 34.2 33.9 34.7 135.2 137.1 INDUSTRIAL MINERALS Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 BORATES Rio Tinto Borax Total production at the Boron mine (Rio Tinto 100%) in California, US and at the Tincalayu, Sijes and Porvenir mines (Rio Tinto 100%) in Argentina. (100% basis) Borates ('000 tonnes) (a) 132 146 142 140 133 587 561 (a) Production is expressed as B2O3 content. TITANIUM DIOXIDE FEEDSTOCK Rio Tinto Iron & Titanium Total Rio Tinto share of titanium dioxide feedstock production in Canada and South Africa. (Rio Tinto share) Titanium dioxide feedstock production ('000 tonnes) 394 377 354 347 350 1,541 1,428 Production in recent periods has been affected by the consequences of a fire at QIT's Canadian smelter in June. Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 DIAMONDS Argyle Diamonds Total production from mining operations at Argyle Diamonds (Rio Tinto 59.7%) in Western Australia. (100% basis) Ore processed ('000 tonnes): AK1 ore 2,785 2,524 2,435 1,992 2,552 11,242 9,503 Alluvial ore 1,197 1,646 1,282 1,527 1,488 6,312 5,943 Total ore processed 3,983 4,170 3,717 3,519 4,040 17,554 15,447 Diamonds recovered ('000 carats): AK1 8,463 6,565 6,886 7,433 6,876 38,959 27,760 Alluvial 593 544 378 473 544 1,885 1,939 Total recovered 9,056 7,109 7,264 7,906 7,420 40,843 29,699 Lower AKl diamond production relative to the corresponding periods last year is in line with lower tonnes processed and lower ore grades. SALT Dampier Salt Total production of salt from Dampier and Lake MacLeod (Rio Tinto 64.9%) in Western Australia. (100% basis) Salt production ('000 tonnes) 1,074 1,099 1,449 1,286 1,416 4,589 5,250 TALC The Luzenac Group Total Talc production from Luzenac Group operations in Europe (Rio Tinto 99.9%) and North America (Rio Tinto 100%). (100% basis) Talc Production ('000 tonnes) 289 310 325 321 313 1,195 1,269 OTHER METALS Full Full 4Q 1Q 2Q 3Q 4Q Year Year 1998 1999 1999 1999 1999 1998 1999 NICKEL Rio Tinto Brasil Limitada Total nickel in matte production at the Fortaleza mine (Rio Tinto 100%) in Brazil. Production (tonnes) 1,923 2,171 1,726 2,620 2,928 4,670 9,445 Rio Tinto Zimbabwe Toll refined metal production at the Empress nickel refinery (Rio Tinto 56.1%) in Zimbabwe. (100% basis) Production (tonnes) 1,780 1,650 1,847 1,802 1,728 6,430 7,027 URANIUM Rossing Uranium Ltd Total uranium production at the Rossing Uranium mine (Rio Tinto 68.58%) in Namibia. (100% basis) Production (tonnes U3O8) 685 840 800 812 719 3,257 3,171 ZINC Norzink AS Total zinc production at Norzink AS (Rio Tinto 50%) in Norway. (100% basis) Production ('000 tonnes) 34.3 37.0 35.0 36.3 35.7 137.9 144.0 Expenditure Rio Tinto's pre-tax exploration charged to the profit and loss account for the quarter ending 31 December 1999 was US$42 million compared with US$55 million in the comparable quarter of 1998. Total expenditure for the twelve months of 1999 was US$132 million compared with US$163 million in 1998. Global prioritisation of the exploration programme continued. New programmes for a variety of commodities were initiated in prospective terrains around the world, and other less prospective programmes were terminated. The majority of the Sepon copper-gold project in Laos was sold and the divestment process is nearing completion on the Palu gold deposit in Indonesia. Major Developments Grasberg, Indonesia In Block A, drilling continued at the Deep Grasberg, Idenberg Fault, and Lembah Tembaga prospects with long intervals of ore grade mineralisation being regularly intersected at Deep Grasberg. The limits of the Kucing Liar orebody have been defined by drilling; infill drilling has started. Other Programmes Country Commodity Programme Summary Australia Diamonds Deep mine delineration drilling continued at the Argyle diamond mine. Mexico Copper A porphyry copper prospect with associated high grade skarn mineralisation has been identified. Peru, Chile Copper Delineation drilling continued on oxide copper properties in Peru and Chile. Definition drilling commenced at the Pukaqaqa sulphide copper-gold prospect in Peru. Zimbabwe Diamonds Underground bulk sampling commenced on three diamondiferous kimberlite pipes discovered by the Rio Tinto Zimbabwe/Rio Tinto Exploration joint venture. Regional Programmes A number of early stage exploration programmes were underway in various regions.

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