Second quarter operations review

RNS Number : 6102F
Rio Tinto PLC
16 July 2019
 

 

Rio Tinto releases second quarter production results

 

16 July 2019

 

Rio Tinto chief executive J-S Jacques said "We saw a challenging operational performance across our portfolio in the first half, while also investing in future growth at Richards Bay Minerals and Resolution. Whilst we experienced operational and weather issues at our iron ore operations in Australia, pricing and market demand has remained robust. We remain focused on safely improving and optimising the performance and productivity of our assets in order to drive future cash flow. This, combined with our value over volume strategy and the disciplined allocation of capital, will continue to deliver superior returns to our shareholders in the short, medium and long term."

 

 

 

Q2 2019

vs Q2 2018

vs Q1 2019

H1 2019

vs H1 2018

Pilbara iron ore shipments (100% basis)

Mt

85.4

-3%

+24%

154.6

-8%

Pilbara iron ore production (100% basis)

Mt

79.7

-7%

+5%

155.7

-8%

Bauxite

kt

13,407

+1%

+5%

26,171

+1%

Aluminium

kt

803

0%

+1%

1,599

0%

Mined copper

kt

137.1

-13%

-5%

281.0

-5%

Titanium dioxide slag

kt

303

+31%

+2%

599

+14%

IOC iron ore pellets and concentrate

Mt

2.5

+191%

+2%

5.0

+55%

 

Operational update

Pilbara iron ore shipments of 85.4 million tonnes (100% basis) in the second quarter were 3% lower than the second quarter of 2018. Shipments were impacted in April due to recovery works following Tropical Cyclone Veronica.

2019 guidance for Pilbara shipments was revised on 19 June 2019 to between 320 and 330 million tonnes, 100% basis (previously between 333 and 343 million tonnes) due to mine operational challenges. Unit cost guidance has been revised to $14 - $15 per tonne (previously $13 - $14 per tonne).

Lower iron ore production was the primary driver of a 2% reduction in copper equivalent production in the first half compared to the corresponding period of 2018.

Bauxite production of 13.4 million tonnes in the second quarter was 1% higher than the same period of 2018.

Aluminium production of 0.8 million tonnes was in line with the second quarter of 2018.

Mined copper production of 137 thousand tonnes was 13% lower than the second quarter of 2018, with lower production from Escondida and Kennecott reflective of lower grades.

Titanium dioxide slag production of 303 thousand tonnes was 31% higher than the second quarter of 2018, reflecting improved operational performance following operational challenges faced in the corresponding period of 2018.

Second quarter production at Iron Ore Company of Canada was significantly higher than the corresponding quarter of 2018, which was impacted by a labour strike. However, guidance for Rio Tinto's share of iron ore pellets and concentrate production is revised to between 10.7 and 11.3 million tonnes (previously 11.3 to 12.3 million tonnes), due to adverse weather conditions in the first quarter and a flooding incident in June.

Rio Tinto today released a separate announcement providing an update on the Oyu Tolgoi underground project.

On 8 April 2019, Rio Tinto announced the approval of the construction of the Zulti South project at Richards Bay Minerals (RBM) in South Africa for $463 million (Rio Tinto share $343 million).

On 15 April 2019, Rio Tinto announced it had committed $302 million ($166 million Rio Tinto share) of additional expenditure to advance its Resolution Copper project in Arizona.

 

 

All figures in this report are unaudited. All currency figures in this report are US dollars, and comments refer to Rio Tinto's share of production, unless otherwise stated. To allow production numbers to be compared on a like-for-like basis, production from asset divestments completed in 2018 is excluded from Rio Tinto share of production data.

 

 

IRON ORE

 

Rio Tinto share of production (million tonnes)

 

Q2 2019

vs Q2 2018

vs Q1 2019

H1 2019

vs H1 2018

Pilbara Blend Lump

19.8

-9%

-1%

39.8

-7%

Pilbara Blend Fines

28.5

-9%

-1%

57.2

-6%

Robe Valley Lump

1.2

-16%

+89%

1.8

-39%

Robe Valley Fines

2.1

-19%

+72%

3.4

-41%

Yandicoogina Fines (HIY)

14.0

-2%

+4%

27.4

-3%

Total Pilbara production

65.6

-8%

+2%

129.7

-8%

Total Pilbara production (100% basis)

79.7

-7%

+5%

155.7

-8%

Total Pilbara shipments (a) (100% basis)

85.4

-3%

+24%

154.6

-8%

(a)   Pilbara Blend sales include 2.4 million tonnes of alternate products in Q2 2019 and 3.9 million tonnes in H1 2019

 

Pilbara operations

Pilbara operations produced 155.7 million tonnes (Rio Tinto share 129.7 million tonnes) in the first half of 2019, 8% lower than the same period in 2018.

 

As highlighted in our first quarter Operations Review, significant disruptions were caused by Tropical Cyclone Veronica, and a fire at Cape Lambert A. The impacts of Cyclone Veronica continued into the second quarter, with repairs to the Cape Lambert A port facilities impacting Robe Valley and Yandicoogina shipments and operations. All repairs are now complete.

 

As announced on 19 June 2019, mine operational challenges are being experienced, particularly at our Greater Brockman hub. This has seen shortfalls in planned material movement and impacted mine sequencing both in the Greater Brockman hub and in the broader system. Waste material movement will be increased over 2019 and 2020 to improve mine performance and pit sequencing. Cost guidance (below) has been revised to include these additional mining activities.

 

First half sales of 154.6 million tonnes (Rio Tinto share 129.6 million tonnes) were 8% lower than the first half of last year due to lower mine production and damage to the port facilities caused by the cyclone.

 

Approximately 16% of sales in the first half of 2019 were priced by reference to the prior quarter's average index lagged by one month. The remainder was sold either on current quarter average, current month average or on the spot market. We continue to prioritise meeting our long-term customer commitments.

 

Approximately 33% of sales in the first half were made free on board (FOB), with the remainder sold including freight.

 

Achieved average pricing in the first half of 2019 was $78.5 per wet metric tonne on an FOB basis (2018 first half: $57.9 per wet metric tonne) which equates to $85.3 per dry metric tonne. Pilbara Blend sales included an additional 2.4 million tonnes of alternate products in the second quarter, bringing the total alternate product sales in the first half of 2019 to 3.9 million tonnes.

 

Pilbara projects

The Koodaideri iron ore mine is progressing to plan with engineering, procurement and construction activities on schedule, including the ramp-up of the mine bulk earthworks and commencement of rail bulk earthworks. First ore from Koodaideri is expected in late 2021, consistent with previous guidance.

 

The Robe River Joint Venture sustaining production projects (West Angelas C&D and Mesa B, C and H at Robe Valley) are progressing through the necessary environmental and heritage approval process. Mesa H environmental approvals have experienced some delays, with contingency plans being assessed in case required. Consistent with previous guidance, first ore from these projects is anticipated in 2021.

    

2019 guidance

As announced on 19 June 2019, Rio Tinto's Pilbara shipments in 2019 are expected to be between 320 and 330 million tonnes, 100% basis (previously between 333 and 343 million tonnes). Guidance will remain subject to weather. Major rail maintenance is scheduled to occur in October, and is reflected in the existing guidance.

 

Rio Tinto's Pilbara unit cost guidance in 2019 has been revised to $14 - $15 per tonne (previously $13 - $14 per tonne), which incorporates costs for the additional waste movement in the mines in the second half, and the overall reduction in shipments. 

 

ALUMINIUM

 

Rio Tinto share of production ('000 tonnes)

 

Q2 2019

vs Q2 2018

vs Q1 2019

H1 2019

vs H1 2018

Rio Tinto Aluminium

 

 

 

 

 

Bauxite

13,407

+1%

+5%

26,171

+1%

Bauxite third party shipments

9,477

+8%

+7%

18,318

+8%

Alumina

1,878

-6%

-6%

3,886

-3%

Aluminium

803

0%

+1%

1,599

0%

 

Bauxite

Second quarter bauxite production of 13.4 million tonnes was 1% higher than the same period of 2018. Production at managed operations increased by 2%, with the ramp-up of Amrun progressing despite weather related impacts in the first quarter. This was partly offset by lower production from the non-managed Porto Trombetas (MRN) JV in Brazil. The expansion project at CBG, a non-managed JV in Guinea, experienced a slower than expected ramp-up, but is now delivering at target run-rates.

 

9.5 million tonnes of bauxite were shipped to third parties in the second quarter, 8% higher than the same period of 2018.

 

Alumina

Alumina production in the second quarter of 2019 was 6% lower than the same period in 2018 due primarily to major maintenance activities at non-managed QAL and the lower bauxite supply from MRN impacting production at Vaudreuil.

 

Aluminium

Aluminium production of 0.8 million tonnes in the second quarter was in line with the corresponding period of 2018. Excluding the non-managed Becancour operation, where a lock-out constrained operations, aluminium production in the first half was 1% higher than the corresponding period in 2018, reflecting continued productivity improvement.

 

On 2 July 2019, management and unions at the Becancour smelter agreed a new labour arrangement which will lead to restart of production at the end of July, with full ramp-up expected by mid-2020.

 

Average realised aluminium prices in the first half of 2019 were $2,174 per tonne (H1 2018: $2,547 per tonne). This includes premiums for value-added products (VAP), which represented 54% of primary metal sold in the first half of 2018 (H1 2018: 58%) and generated attractive product premiums averaging $242 per tonne of VAP sold (H1 2018: $222 per tonne) on top of the physical market premiums. The mid-west premium duty paid increased from $396 per tonne in the first half of 2018 to $420 per tonne in the first half of 2019. A 10% tariff on aluminium imports into the United States under Section 232, which was effective for Canadian imports, was paid until the tariffs were removed on 19 May 2019.

 

There was some respite from cost inflation in Aluminium compared with 2018 for certain raw materials, in particular for caustic soda and petroleum coke albeit with a lag effect due to the pricing mechanism. However, this was partly offset by inflationary pressures on other costs.

 

Kemano

At the Kemano hydro-power facility at Kitimat, British Columbia, the tunnel boring machine has achieved a total of 828 metres excavated as at 30 June 2019. Current progress is slightly behind schedule, but cost forecasts remain on budget.

 

2019 guidance

2019 guidance is unchanged. Rio Tinto's expected share of bauxite production in 2019 is between 56 and 59 million tonnes. Aluminium production guidance is between 3.2 and 3.4 million tonnes and alumina production guidance is 8.1 to 8.4 million tonnes.

  

COPPER & DIAMONDS

 

Rio Tinto share of production ('000 tonnes)

 

Q2 2019

vs Q2 2018

vs Q1 2019

H1 2019

vs H1 2018

Mined copper

 

 

 

 

 

Rio Tinto Kennecott

41.1

-20%

-22%

93.7

+8%

Escondida

82.9

-10%

+9%

158.9

-13%

Oyu Tolgoi

13.1

-1%

-15%

28.5

+9%

 

 

 

 

 

 

Refined copper

 

 

 

 

 

Rio Tinto Kennecott

63.3

+55%

+114%

92.8

+22%

Escondida

19.0

-9%

+2%

37.7

-10%

 

 

 

 

 

 

Diamonds ('000 carats)

 

 

 

 

 

Argyle

3,292

-5%

+18%

6,079

-13%

Diavik

1,188

+3%

+18%

2,198

-1%

 

Rio Tinto Kennecott

Second quarter mined copper production was 20% lower than the same period of 2018. Lower grades experienced as mining activity moved into lower levels of the pit were partially offset by increased mined ore.

 

Refined copper production was 55% higher than the second quarter of 2018, reflecting strong smelter performance and improved mining rates. Production was significantly higher than the prior quarter, when the anode furnace was shut for planned maintenance. 

 

Rio Tinto Kennecott continues to toll and purchase third party concentrate to optimise smelter utilisation, with 31.8 thousand tonnes of concentrate received for processing in the second quarter of 2019, compared with 31.3 thousand tonnes in the second quarter of 2018. Purchased and tolled copper concentrate are excluded from reported production figures.

 

Grades were higher in the second quarter for molybdenum, with concentrate production more than two and a half times higher than the same quarter in 2018.

 

Escondida

Mined copper production at Escondida in the second quarter of 2019 was 10% lower than the same period of 2018 mainly due to lower copper grades feeding the concentrators.

 

Oyu Tolgoi

Mined copper production from the open pit in the second quarter of 2019 was 1% lower than the same period in 2018 and 15% lower than the prior quarter as ore sources move to lower grade areas of the pit, as planned.

 

Oyu Tolgoi Underground Project

On 16 July 2019, Rio Tinto released a separate announcement providing an update on the Oyu Tolgoi underground project.

 

Provisional pricing

At 30 June 2019, the Group had an estimated 287 million pounds of copper sales that were provisionally priced at 275 cents per pound. The final price of these sales will be determined during the second half of 2019. This compares with 240 million pounds of open shipments at 31 December 2018, provisionally priced at 277 cents per pound.

 

Resolution Copper

On 15 April 2019, Rio Tinto announced it had committed $302 million ($166 million Rio Tinto share) of additional expenditure to advance its Resolution Copper project in Arizona. The investment will fund additional drilling, ore-body studies, infrastructure improvements and permitting activities as Rio Tinto looks to progress the project to the final stage of the project's permitting phase.

 

Diamonds

At Argyle, carat production in the second quarter of 2019 was 5% lower than the same period in 2018 due to lower recovered grade, partially offset by stronger mining rates.

 

At Diavik, carats recovered in the second quarter were 3% higher than the second quarter of 2018 due to slightly higher grades and ore processing throughput.

 

2019 guidance

2019 guidance is unchanged. Rio Tinto's share of mined copper production for 2019 is expected to be between 550 and 600 thousand tonnes, subject to grade availability. Refined copper production is expected to be between 220 and 250 thousand tonnes.

 

Diamond production guidance for 2019 is between 15 and 17 million carats. 

 

ENERGY & MINERALS

 

Rio Tinto share of production

 

Q2 2019

vs Q2 2018

vs Q1 2019

H1 2019

vs H1 2018

Iron ore pellets and concentrate (million tonnes)

 

 

 

 

 

IOC

2.5

+191%

+2%

5.0

+55%

 

 

 

 

 

 

Minerals ('000 tonnes)

 

 

 

 

 

Borates - B2O3 content

138

+4%

+20%

253

-1%

Titanium dioxide slag

303

+31%

+2%

599

+14%

 

 

 

 

 

 

Uranium ('000 lbs)

 

 

 

 

 

Energy Resources of Australia

620

+3%

-22%

1,413

+11%

Rössing

1,142

+23%

+43%

1,944

+9%

 

Iron Ore Company of Canada (IOC)

Second quarter production available for sale at IOC was significantly higher than the corresponding period of 2018, which was impacted by a labour strike, and 2% higher than the prior quarter. Although 55% higher than the corresponding period of 2018, first half production was impacted by adverse weather in the first quarter and a flooding incident in June.

 

Borates

Second quarter borates production was 4% higher than the second quarter of 2018, and production will continue to be aligned to customer demand.

 

Iron and Titanium

Titanium dioxide feedstock production in the second quarter was 31% higher than the same period of 2018, reflecting improved operational performance following challenges faced in the corresponding period of 2018.

 

Eight of nine furnaces at Rio Tinto Fer et Titane (RTFT) are currently in operation, with three of four furnaces currently in operation at Richards Bay Minerals (RBM). Reconstruction of the currently idled fourth furnace at RBM commenced in July, with the furnace expected to be in operation by the end of 2019. A decision to re-start the remaining idled furnace at RTFT will be based on maximising value over volume.

 

On 8 April 2019, Rio Tinto announced the approval of the construction of the Zulti South project at RBM in South Africa for $463 million (Rio Tinto share $343 million). First production is scheduled for late-2021.

 

Uranium

Energy Resources of Australia continues to process existing stockpiles. Second quarter production was 3% higher than the same period of 2018, with higher grade and recoveries partly offset by lower plant throughput.

 

Second quarter production at Rössing Uranium was 23% higher than the same quarter of 2018, reflecting higher grades and recoveries.

 

On 26 November 2018, Rio Tinto announced it had entered into a binding agreement with China National Uranium Corporation for the sale of its entire 68.62% stake in Rössing Uranium. Approval has now been received from the Namibian Competition Commission and final completion occurred in July.

 

2019 guidance

At IOC, guidance for Rio Tinto's expected share of 2019 iron ore pellets and concentrate production is revised to between 10.7 and 11.3 million tonnes (previously 11.3 to 12.3 million tonnes), due to the adverse weather conditions in the first quarter and the flooding incident in June.

 

Titanium dioxide slag production guidance is unchanged between 1.2 and 1.4 million tonnes, and boric oxide equivalent production guidance remains at 0.5 million tonnes.

  

EXPLORATION AND EVALUATION

 

Pre-tax and pre-divestment expenditure on exploration and evaluation charged to the profit and loss account in the first half of 2019 was $287 million, compared with $232 million in the first half of 2018, with increased spend on central exploration and at Resolution Copper. Approximately 51% of this expenditure was incurred by central exploration, 38% by Copper & Diamonds, 7% by Energy & Minerals and the remainder by Iron Ore and Aluminium.

 

There were no significant divestments of central exploration properties in the second quarter of 2019.

 

Exploration highlights

Rio Tinto has a strong portfolio of projects with activity in 18 countries across eight commodities. The bulk of the exploration expenditure in this quarter was focused on copper targets in Australia, Canada, Chile, Kazakhstan, Mongolia, Namibia, Papua New Guinea, Peru, Serbia, United States, Zambia and diamond projects in Canada. Mine-lease exploration continued at a number of Rio Tinto managed businesses including Pilbara Iron in Australia, Oyu Tolgoi in Mongolia, Weipa in Australia, Diavik in Canada, as well as Bingham, Resolution and Boron in the US.

 

At the Winu project in Western Australia, results continue to indicate relatively wide intersections of vein style copper mineralisation associated with gold and silver beneath relatively shallow cover which ranges from 50 to 100 metres. The mineralisation remains open at depth and to the east, north, and south.  Reverse circulation (RC) and diamond drilling is continuing, with RC drilling primarily focused upon defining the extent and tenor of the supergene zone, and diamond drilling continuing to test the extents of the deposit. Drilling is ongoing with eight diamond rigs and three RC rigs drilling at Winu.

 

A summary of activity for the quarter is as follows:

 

Product Groups

Studies stage

Advanced exploration

projects

Greenfield/ Brownfield

programmes

Aluminium

Cape York, Australia

Amargosa, Brazil

Sanxai, Laos

Cape York, Australia

Copper & Diamonds

Copper/molybdenum: Resolution, US

Copper: Winu, Australia, La Granja, Peru

Nickel: Tamarack, US

Diamonds: FalCon, Canada

Copper Greenfield: Australia, Chile, China, Kazakhstan, Mongolia, Namibia, Papua New Guinea, Peru, Serbia, US, Zambia

Copper Brownfield: Bingham, Resolution, US Oyu Tolgoi, Mongolia

Nickel Greenfield: Canada, Finland, Uganda

Diamonds Greenfield: Canada

Diamonds Brownfield: Diavik, Canada

Energy & Minerals

Lithium borates: Jadar, Serbia

Potash: KP405, Canada

Heavy mineral sands: Mutamba, Mozambique

Uranium: Roughrider, Canada

 

Heavy mineral sands: Tanzania

Industrial Minerals: Serbia

 

Iron Ore

Pilbara, Australia

Pilbara, Australia

Pilbara, Australia

 

 

Forward-looking statements

 

This announcement may include "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding Rio Tinto's production forecast or guidance, financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto's products and reserve and resource positions), are forward-looking statements. The words "intend", "aim", "project", "anticipate", "estimate", "plan", "believes", "expects", "may", "should", "will", "target", "set to", "assumes" or similar expressions, commonly identify such forward looking statements.

 

Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual production, performance or results of Rio Tinto to be materially different from any future production, performance or results expressed or implied by such forward-looking statements. Such forward-looking statements could be influenced by such risk factors as identified in Rio Tinto's most recent Annual Report and Accounts in Australia and the United Kingdom and the most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC") or Form 6-Ks furnished to, or filed with, the SEC. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this announcement. Rio Tinto expressly disclaims any obligation or undertaking (except as required by applicable law, the UK Listing Rules, the Disclosure and Transparency Rules of the Financial Conduct Authority and the Listing Rules of the Australian Securities Exchange) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Rio Tinto's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

 

Nothing in this announcement should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed its historical published earnings per share. 

 

 

 

Contacts

 

media.enquiries@riotinto.com 

riotinto.com 

 

  Follow @RioTinto on Twitter

 

 

Media Relations, United Kingdom

Illtud Harri

M +44 7920 503 600

 

David Outhwaite

T +44 20 7781 1623

M +44 7787 597 493

 

Media Relations, Americas

Matthew Klar

T +1 514 608 4429

 

Media Relations, Asia

Grant Donald

T +65 6679 9290

M +65 9722 6028

 

Media Relations, Australia

Jonathan Rose

T +61 3 9283 3088

M +61 447 028 913

 

Matt Chambers

T +61 (0) 3 9283 3087

M +61 433 525 739

 

Jesse Riseborough

T +61 8 6211 6013

M +61 436 653 412

 

Investor Relations, United Kingdom

John Smelt

T +44 20 7781 1654

M +44 7879 642 675

 

David Ovington

T +44 20 7781 2051

M +44 7920 010 978

 

Nick Parkinson

M +61 436 637 571

 

 

Investor Relations, Australia

Natalie Worley

T +61 3 9283 3063

M +61 409 210 462

 

Rachel Storrs

T +61 3 9283 3628

M +61 417 401 018

 

Rio Tinto plc

6 St James's Square

London SW1Y 4AD

United Kingdom

T +44 20 7781 2000

Registered in England

No. 719885

 

Rio Tinto Limited

Level 7, 360 Collins Street

Melbourne 3000

Australia

T +61 3 9283 3333

Registered in Australia

ABN 96 004 458 404

 

 

 

 

 

 

 

 

Rio Tinto production summary

 

 

 

 

 

 

 

 

 

 

Rio Tinto share of production

 

 

 

 

 

 

 

 

 

 

 

 

Quarter

 

Half Year

 

% Change

 

 

2018
Q2

2019
Q1

2019
Q2

 

2018
H1

2019
H1

 

Q2 19
vs
Q2 18

Q2 19
vs
Q1 19

H1 19
vs
H1 18

Principal Commodities

 

 

 

 

 

 

 

 

Alumina

('000 t)

1,999

2,008

1,878

 

3,988

3,886

 

-6%

-6%

-3%

Aluminium

('000 t)

805

796

803

 

1,600

1,599

 

1%

0%

Bauxite

('000 t)

13,279

12,763

13,407

 

25,931

26,171

 

5%

1%

Borates

('000 t)

132

115

138

 

256

253

 

20%

-1%

Copper - mined

('000 t)

156.8

143.9

137.1

 

296.1

281.0

 

-5%

-5%

Copper - refined

('000 t)

61.7

48.3

82.3

 

117.9

130.6

 

70%

11%

Diamonds

('000 cts)

4,626

3,796

4,481

 

9,241

8,277

 

18%

-10%

Iron Ore

('000 t)

72,336

66,581

68,141

 

143,773

134,723

 

2%

-6%

Titanium dioxide slag

('000 t)

232

296

303

 

525

599

 

2%

14%

Uranium

('000 lbs)

1,531

1,595

1,762

 

3,046

3,357

 

15%

11%

10%

Other Metals & Minerals

 

 

 

 

 

 

 

 

Gold - mined

('000 oz)

82.8

115.4

111.6

 

152.2

227.0

 

35%

-3%

49%

Gold - refined

('000 oz)

48.4

41.7

52.9

 

89.2

94.6

 

27%

6%

Molybdenum

('000 t)

0.7

1.9

2.6

 

2.2

4.4

 

37%

104%

Salt

('000 t)

1,662

1,310

1,269

 

3,176

2,579

 

-3%

-19%

Silver - mined

('000 oz)

1,448

1,481

1,403

 

2,686

2,883

 

-5%

7%

Silver - refined

('000 oz)

461

617

734

 

1,328

1,351

 

59%

19%

2%

 

 

 

 

 

 

 

 

 

 

Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page. Production figures are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the year to date figures.

 

 

 

Rio Tinto share of production

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

ALUMINA

 

 

 

 

 

 

 

 

Production ('000 tonnes)

 

 

 

 

 

 

 

 

Jonquière (Vaudreuil)

100%

365

363

354

373

336

727

709

Jonquière (Vaudreuil) specialty Alumina plant

100%

32

31

29

25

31

64

57

Queensland Alumina

80%

752

748

742

711

668

1,469

1,378

São Luis (Alumar)

10%

87

85

92

86

86

174

172

Yarwun

100%

763

744

803

813

757

1,556

1,570

Rio Tinto total alumina production

 

1,999

1,972

2,020

2,008

1,878

3,988

3,886

 

 

 

 

 

 

 

 

 

ALUMINIUM

 

 

 

 

 

 

 

 

Production ('000 tonnes)

 

 

 

 

 

 

 

 

Australia - Bell Bay

100%

47

48

48

45

47

94

92

Australia - Boyne Island

59%

74

75

74

73

75

146

147

Australia - Tomago

52%

76

78

77

74

76

151

150

Canada - six wholly owned

100%

402

407

408

400

400

800

800

Canada - Alouette (Sept-Îles)

40%

58

59

58

58

60

116

118

Canada - Bécancour

25%

9

8

8

4

4

19

8

Iceland - ISAL (Reykjavik)

100%

53

53

54

52

52

105

105

New Zealand - Tiwai Point

79%

67

68

70

71

69

133

140

Oman - Sohar

20%

19

20

20

19

19

37

39

Rio Tinto total aluminium production

 

805

814

817

796

803

1,600

1,599

 

 

 

 

 

 

 

 

 

 

BAUXITE

 

 

 

 

 

 

 

 

Production ('000 tonnes) (a)

 

 

 

 

 

 

 

 

Gove

100%

3,274

2,893

3,250

3,004

2,957

6,398

5,960

Porto Trombetas

12%

393

342

489

285

287

745

572

Sangaredi

   (b)

1,657

1,261

1,204

1,558

1,630

3,403

3,189

Weipa

100%

7,955

8,204

6,847

7,917

8,533

15,386

16,450

Rio Tinto total bauxite production

13,279

12,700

11,790

12,763

13,407

25,931

26,171

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

(b) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits from 45.0% of production.

 

 

Rio Tinto share of production

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

BORATES

 

 

 

 

 

 

 

 

Production ('000 tonnes B2O3 content)

 

 

 

 

 

 

 

 

Rio Tinto Borates - borates

100%

132

137

118

115

138

256

253

 

 

 

 

 

 

 

 

 

COPPER

 

 

 

 

 

 

 

 

Mine production ('000 tonnes) (a)

 

 

 

 

 

 

 

 

Bingham Canyon

100%

51.2

59.1

58.3

52.5

41.1

86.6

93.7

Escondida

30%

92.4

87.4

79.7

76.0

82.9

183.3

158.9

Oyu Tolgoi (b)

34%

13.2

13.2

13.9

15.4

13.1

26.2

28.5

Rio Tinto total mine production

 

156.8

159.7

151.9

143.9

137.1

296.1

281.0

Refined production ('000 tonnes)

 

 

 

 

 

 

 

Escondida

30%

21.0

16.6

21.6

18.7

19.0

41.9

37.7

Rio Tinto Kennecott

100%

40.7

54.2

64.6

29.6

63.3

76.0

92.8

Rio Tinto total refined production

61.7

70.8

86.1

48.3

82.3

117.9

130.6

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources Ltd.

 

 

 

 

 

 

 

 

 

DIAMONDS

 

 

 

 

 

 

 

 

Production ('000 carats)

 

 

 

 

 

 

 

 

Argyle

100%

3,476

3,830

3,211

2,786

3,292

7,027

6,079

Diavik

60%

1,150

1,066

1,078

1,010

1,188

2,214

2,198

Rio Tinto total diamond production

 

4,626

4,896

4,290

3,796

4,481

9,241

8,277

 

 

 

 

 

 

 

 

 

GOLD

 

 

 

 

 

 

 

 

Mine production ('000 ounces) (a)

 

 

 

 

 

 

 

 

Bingham Canyon

100%

45.6

56.6

57.1

53.0

65.1

83.0

118.0

Escondida

30%

20.5

19.1

22.1

22.2

22.4

38.5

44.6

Oyu Tolgoi (b)

34%

16.8

25.8

39.1

40.2

24.1

30.8

64.3

Rio Tinto total mine production

 

82.8

101.4

118.4

115.4

111.6

152.2

227.0

Refined production ('000 ounces)

 

 

 

 

 

 

 

Rio Tinto Kennecott

100%

48.4

50.3

58.6

41.7

52.9

89.2

94.6

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources Ltd.

 

 

Rio Tinto share of production

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

IRON ORE

 

 

 

 

 

 

 

 

Production ('000 tonnes) (a)

 

 

 

 

 

 

 

Hamersley mines

   (b)

56,034

54,583

56,364

51,218

50,087

109,665

101,304

Hamersley - Channar

60%

1,227

604

1,337

931

1,451

2,363

2,382

Hope Downs

50%

5,783

5,713

5,845

5,957

6,051

11,126

12,007

Iron Ore Company of Canada

59%

871

2,880

2,836

2,481

2,532

3,236

5,012

Robe River - Pannawonica (Mesas J and A)

53%

4,048

4,208

4,004

1,870

3,329

8,720

5,200

Robe River - West Angelas

53%

4,373

4,021

4,631

4,125

4,692

8,663

8,817

Rio Tinto iron ore production ('000 tonnes)

 

72,336

72,010

75,018

66,581

68,141

143,773

134,723

Breakdown of Production:

 

 

 

 

 

 

 

 

Pilbara Blend Lump

 

21,901

20,554

21,674

19,978

19,842

42,615

39,821

Pilbara Blend Fines

 

31,239

29,921

31,652

28,779

28,463

61,009

57,242

Robe Valley Lump

 

1,431

1,470

1,409

635

1,201

3,017

1,836

Robe Valley Fines

 

2,617

2,738

2,595

1,235

2,128

5,703

3,363

Yandicoogina Fines (HIY)

 

14,277

14,446

14,852

13,473

13,975

28,193

27,448

Pilbara iron ore production ('000 tonnes)

 

71,465

69,129

72,182

64,101

65,610

140,537

129,711

IOC Concentrate

 

572

1,131

1,433

890

1,193

1,370

2,083

IOC Pellets

 

299

1,750

1,403

1,590

1,339

1,865

2,929

IOC iron ore production ('000 tonnes)

 

871

2,880

2,836

2,481

2,532

3,236

5,012

Breakdown of Sales:

 

 

 

 

 

 

 

 

Pilbara Blend Lump

 

19,424

17,967

18,439

15,772

18,644

37,485

34,416

Pilbara Blend Fines

 

35,158

31,432

35,205

28,406

33,912

65,904

62,318

Robe Valley Lump

 

1,264

1,174

1,219

457

1,037

2,487

1,494

Robe Valley Fines

 

3,255

2,839

2,996

1,308

2,577

6,250

3,885

Yandicoogina Fines (HIY)

 

14,388

14,583

14,831

12,294

15,212

27,966

27,505

Pilbara iron ore sales ('000 tonnes) (c)

 

73,489

67,995

72,690

58,236

71,382

140,093

129,618

IOC Concentrate

 

62

1,521

1,558

516

1,315

808

1,830

IOC Pellets

 

202

1,659

1,516

1,576

1,423

1,776

2,999

IOC Iron ore sales ('000 tonnes)

 

263

3,180

3,073

2,092

2,738

2,584

4,830

Rio Tinto iron ore sales ('000 tonnes)

73,752

71,175

75,763

60,328

74,119

142,677

134,448

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

(b) Includes 100% of production from Paraburdoo, Mt Tom Price, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass and the Eastern Range mines. Whilst Rio Tinto owns 54% of the Eastern Range mine, under the terms of the joint venture agreement, Hamersley Iron manages the operation and is obliged to purchase all mine production from the joint venture and therefore all of the production is included in Rio Tinto's share of production.
(c) Pilbara Blend sales include 2.4 million tonnes of alternate products in Q2 2019 and 3.9 million tonnes in H1 2019

 

 

Rio Tinto share of production

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

MOLYBDENUM

 

 

 

 

 

 

 

 

Mine production ('000 tonnes) (a)

 

 

 

 

 

 

 

Bingham Canyon

100%

0.7

1.4

2.2

1.9

2.6

2.2

4.4

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

 

 

 

 

 

 

 

 

 

SALT

 

 

 

 

 

 

 

 

Production ('000 tonnes)

 

 

 

 

 

 

 

 

Dampier Salt

68%

1,662

1,481

1,496

1,310

1,269

3,176

2,579

 

 

 

 

 

 

 

 

 

SILVER

 

 

 

 

 

 

 

 

Mine production ('000 ounces) (a)

 

 

 

 

 

 

 

Bingham Canyon

100%

615

708

736

741

700

1,076

1,442

Escondida

30%

758

599

771

657

622

1,460

1,279

Oyu Tolgoi (b)

34%

75

77

80

83

80

149

163

Rio Tinto total mine production

 

1,448

1,384

1,586

1,481

1,403

2,686

2,883

Refined production ('000 ounces)

 

 

 

 

 

 

 

Rio Tinto Kennecott

100%

461

730

807

617

734

1,328

1,351

(a) Mine production figures for metals refer to the total quantity of metal produced in concentrates, leach liquor or doré bullion irrespective of whether these products are then refined onsite, except for the data for bauxite and iron ore which represent production of marketable quantities of ore plus concentrates and pellets.

(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources Ltd.

 

 

 

 

 

 

 

 

 

TITANIUM DIOXIDE SLAG

 

 

 

 

 

 

 

 

Production ('000 tonnes)

 

 

 

 

 

 

 

 

Rio Tinto Iron & Titanium (a)

100%

232

297

294

296

303

525

599

(a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74% interest in Richards Bay Minerals (RBM).

 

 

 

 

 

 

 

 

 

URANIUM

 

 

 

 

 

 

 

 

Production ('000 lbs U3O8) (a)

 

 

 

 

 

 

 

Energy Resources of Australia

68%

603

820

924

793

620

1,270

1,413

Rössing (b)

69%

928

994

979

802

1,142

1,776

1,944

Rio Tinto total uranium production

1,531

1,814

1,904

1,595

1,762

3,046

3,357

(a) ERA and Rössing production reported are drummed U3O8.
(b) On 26 November 2018, Rio Tinto signed a binding agreement to sell its 68.62% interest in the Rossing mine in Namibia to China National Uranium Corporation Limited.

 

 

 

 

 

 

 

 

 

Production figures are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the year to date figures.

The Rio Tinto percentage shown above is at 30 June 2019.

 

 

 

 

 

 

 

 

 

Rio Tinto's interest in the Kestrel, Hail Creek, Dunkerque and Grasberg operations were sold in 2018. No data for these operations are included in the Share of production table.

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

ALUMINA

 

 

 

 

 

 

 

 

Smelter Grade Alumina - Aluminium Group

 

 

 

 

 

 

 

Alumina production ('000 tonnes)

 

 

 

 

 

 

 

 

Australia

 

 

 

 

 

 

 

 

Queensland Alumina Refinery - Queensland

80.0%

940

935

927

888

834

1,836

1,723

Yarwun refinery - Queensland

100.0%

763

744

803

813

757

1,556

1,570

Brazil

 

 

 

 

 

 

 

 

São Luis (Alumar) refinery

10.0%

869

851

918

859

864

1,740

1,723

Canada

 

 

 

 

 

 

 

 

Jonquière (Vaudreuil) refinery - Quebec (a)

100.0%

365

363

354

373

336

727

709

(a) Jonquière's (Vaudreuil's) production shows smelter grade alumina only and excludes hydrate produced and used for specialty alumina.

Specialty Alumina - Aluminium Group

 

 

 

 

 

 

 

Specialty alumina production ('000 tonnes)

 

 

 

 

 

 

 

Canada

 

 

 

 

 

 

 

 

Jonquière (Vaudreuil) plant - Quebec

100.0%

32

31

29

25

31

64

57

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

ALUMINIUM

 

 

 

 

 

 

 

 

Primary Aluminium

 

 

 

 

 

 

 

 

Primary aluminium production ('000 tonnes)

 

 

 

 

 

 

 

Australia

 

 

 

 

 

 

 

 

Bell Bay smelter - Tasmania

100.0%

47

48

48

45

47

94

92

Boyne Island smelter - Queensland

59.4%

124

126

125

122

126

246

248

Tomago smelter - New South Wales

51.6%

148

151

149

144

147

293

292

Canada

 

 

 

 

 

 

 

 

Alma smelter - Quebec

100.0%

116

117

118

115

118

231

233

Alouette (Sept-Îles) smelter - Quebec

40.0%

146

148

146

144

150

290

294

Arvida smelter - Quebec

100.0%

43

43

44

43

44

86

86

Arvida AP60 smelter - Quebec

100.0%

13

13

13

14

15

26

29

Bécancour smelter - Quebec

25.1%

35

32

30

17

16

74

33

Grande-Baie smelter - Quebec

100.0%

58

59

59

58

58

115

116

Kitimat smelter - British Columbia

100.0%

109

110

109

106

102

217

208

Laterrière smelter - Quebec

100.0%

64

65

65

64

64

127

128

France

 

 

 

 

 

 

 

 

Dunkerque smelter (a)

0%

52

66

57

-

-

104

-

Iceland

 

 

 

 

 

 

 

 

ISAL (Reykjavik) smelter

100.0%

53

53

54

52

52

105

105

New Zealand

 

 

 

 

 

 

 

 

Tiwai Point smelter

79.4%

84

85

88

89

87

167

176

Oman

 

 

 

 

 

 

 

 

Sohar smelter

20.0%

97

98

99

97

97

183

194

(a) On 14 December 2018, Rio Tinto completed the sale of its 100% interest in the Dunkerque smelter. Production is reported up to the date of completion.

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

BAUXITE

 

 

 

 

 

 

 

 

Bauxite production ('000 tonnes)

 

 

 

 

 

 

 

 

Australia

 

 

 

 

 

 

 

 

Gove mine - Northern Territory

100.0%

3,274

2,893

3,250

3,004

2,957

6,398

5,960

Weipa mine - Queensland

100.0%

7,955

8,204

6,847

7,917

8,533

15,386

16,450

Brazil

 

 

 

 

 

 

 

 

Porto Trombetas (MRN) mine

12.0%

3,273

2,848

4,073

2,372

2,393

6,212

4,765

Guinea

 

 

 

 

 

 

 

 

Sangaredi mine (a)

23.0%

3,683

2,803

2,675

3,463

3,623

7,561

7,087

 

 

 

 

 

 

 

 

 

Rio Tinto share of bauxite shipments

 

 

 

 

 

 

 

Share of total bauxite shipments ('000 tonnes)

12,936

12,427

11,622

12,725

13,122

25,487

25,847

Share of third party bauxite shipments ('000 tonnes)

8,738

8,441

7,387

8,842

9,477

16,986

18,318

 

 

 

 

 

 

 

 

 

(a) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits from 45.0% of production.

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

BORATES

 

 

 

 

 

 

 

 

Rio Tinto Borates - borates

100.0%

 

 

 

 

 

 

 

US

 

 

 

 

 

 

 

 

Borates ('000 tonnes) (a)

 

132

137

118

115

138

256

253

(a) Production is expressed as B2O3 content.

 

 

 

 

 

 

 

 

 

COAL

 

 

 

 

 

 

 

 

Rio Tinto Coal Australia

 

 

 

 

 

 

 

 

Hail Creek Coal mine (a)

0.0%

 

 

 

 

 

 

 

Queensland

 

 

 

 

 

 

 

 

Hard coking coal ('000 tonnes)

 

1,380

396

-

-

-

2,304

-

Thermal coal ('000 tonnes)

 

1,018

449

-

-

-

2,311

-

Kestrel Coal mine (b)

0.0%

 

 

 

 

 

 

 

Queensland

 

 

 

 

 

 

 

 

Hard coking coal ('000 tonnes)

 

1,303

484

-

-

-

1,733

-

Thermal coal ('000 tonnes)

 

220

35

-

-

-

293

-

 

 

 

 

 

 

 

 

 

Total hard coking coal production ('000 tonnes)

2,683

880

-

-

-

4,037

-

Total thermal coal production ('000 tonnes)

1,238

485

-

-

-

2,605

-

Total coal production ('000 tonnes)

 

3,921

1,365

-

-

-

6,642

-

 

 

 

 

 

 

 

 

 

Total coal sales ('000 tonnes)

 

3,717

1,725

-

-

-

6,767

-

Rio Tinto Coal Australia share (c)

 

 

 

 

 

 

 

 

Share of hard coking coal sales ('000 tonnes)

2,228

650

-

-

-

3,596

-

Share of thermal coal sales ('000 tonnes) (d)

791

754

-

-

-

1,910

-

 

 

 

 

 

 

 

 

 

(a) On 1 August 2018, Rio Tinto completed the sale of its 82% interest in the Hail Creek mine.  Production is reported up to the date of completion.
(b) On 1 August 2018, Rio Tinto completed the sale of its 80% interest in the Kestrel mine. Production is reported up to the date of completion.
(c) Kestrel and Hail Creek produce hard coking coal and thermal coal through their mining operations. Both mines may blend coal types at ports.
(d) Sales relate only to coal mined by the operations and exclude traded coal.

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

COPPER & GOLD

 

 

 

 

 

 

 

 

Escondida

30.0%

 

 

 

 

 

 

 

Chile

 

 

 

 

 

 

 

 

Sulphide ore to concentrator ('000 tonnes)

31,732

30,513

30,507

32,027

32,519

63,936

64,546

Average copper grade (%)

 

0.96

0.94

0.87

0.82

0.86

0.96

0.84

Mill production (metals in concentrates):

 

 

 

 

 

 

 

 

Contained copper ('000 tonnes)

 

253.6

241.9

219.9

216.9

231.7

506.2

448.6

Contained gold ('000 ounces)

 

68

64

74

74

75

128

149

Contained silver ('000 ounces)

 

2,527

1,997

2,570

2,189

2,074

4,866

4,263

Recoverable copper in ore stacked for leaching ('000 tonnes) (a)

54.4

49.4

45.7

36.5

44.5

104.8

81.0

Refined production from leach plants:

 

 

 

 

 

 

 

 

Copper cathode production ('000 tonnes)

 

70.1

55.4

71.9

62.4

63.5

139.5

125.8

(a) The calculation of copper in material mined for leaching is based on ore stacked at the leach pad.

Freeport-McMoRan

 

 

 

 

 

 

 

 

Grasberg mine (a)

0.0% (b)

 

 

 

 

 

 

 

Papua, Indonesia

 

 

 

 

 

 

 

 

Ore treated ('000 tonnes)

 

17,101

17,535

14,049

-

-

32,725

-

Average mill head grades:

 

 

 

 

 

 

 

 

Copper (%)

 

1.06

1.00

0.73

-

-

1.09

-

Gold (g/t)

 

1.77

1.77

1.08

-

-

1.71

-

Silver (g/t)

 

5.09

4.49

2.09

-

-

4.89

-

Production of metals in concentrates:

 

 

 

 

 

 

 

 

Copper in concentrates ('000 tonnes)

 

165.7

158.7

85.4

-

-

325.6

-

Gold in concentrates ('000 ounces)

 

842

842

402

-

-

1,535

-

Silver in concentrates ('000 ounces)

 

1,548

1,439

545

-

-

3,061

-

Sales of payable metals in concentrates: (c)

 

 

 

 

 

 

 

Copper in concentrates ('000 tonnes)

 

145.3

170.6

82.7

-

-

302.7

-

Gold in concentrates ('000 ounces)

 

740

903

399

-

-

1,417

-

Silver in concentrates ('000 ounces)

 

1,098

1,221

426

-

-

2,282

-

(a) Through a joint venture agreement with Freeport-McMoRan (FCX), Rio Tinto is entitled to 40% of additional material mined as a consequence of expansions and developments of the Grasberg facilities since 1998. The Q4 2018 results show the forecast from FCX's most recent five-year plan. On 21 December 2018, Rio Tinto completed the sale of its entire interest in the Grasberg mine in Indonesia to PT Indonesia Asahan Aluminium (Persero) (Inalum). Production is reported up to the date of completion.
(b) Rio Tinto share of Grasberg production is 40% of the expansion.
(c) Net of smelter deduction

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

                                                            

 

 

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

COPPER & GOLD (continued)

 

 

 

 

 

 

 

 

Rio Tinto Kennecott

 

 

 

 

 

 

 

 

Bingham Canyon mine

100.0%

 

 

 

 

 

 

 

Utah, US

 

 

 

 

 

 

 

 

Ore treated ('000 tonnes)

 

8,974

11,173

10,853

10,685

10,123

18,234

20,808

Average ore grade:

 

 

 

 

 

 

 

 

Copper (%)

 

0.63

0.58

0.59

0.55

0.46

0.53

0.50

Gold (g/t)

 

0.26

0.26

0.26

0.25

0.33

0.25

0.29

Silver (g/t)

 

2.73

2.62

2.76

2.76

2.84

2.49

2.80

Molybdenum (%)

 

0.025

0.030

0.032

0.032

0.039

0.025

0.035

Copper concentrates produced ('000 tonnes)

194

233

222

207

161

365

368

Average concentrate grade (% Cu)

 

26.4

25.3

26.0

25.3

25.5

23.7

25.4

Production of metals in copper concentrates:

 

 

 

 

 

 

 

Copper ('000 tonnes) (a)

 

51.2

59.1

58.3

52.5

41.1

86.6

93.7

Gold ('000 ounces)

 

46

57

57

53

65

83

118

Silver ('000 ounces)

 

615

708

736

741

700

1,076

1,442

Molybdenum concentrates produced ('000 tonnes):

1.5

2.8

4.5

3.8

5.0

4.3

8.7

Molybdenum in concentrates ('000 tonnes)

 

0.7

1.4

2.2

1.9

2.6

2.2

4.4

 

Kennecott smelter & refinery

100.0%

 

 

 

 

 

 

 

Copper concentrates smelted ('000 tonnes)

224

246

262

204

207

425

411

Copper anodes produced ('000 tonnes) (b)

44.4

58.1

62.4

33.3

60.3

86.9

93.6

Production of refined metal:

 

 

 

 

 

 

 

 

Copper ('000 tonnes)

 

40.7

54.2

64.6

29.6

63.3

76.0

92.8

Gold ('000 ounces) (c)

 

48.4

50.3

58.6

41.7

52.9

89.2

94.6

Silver ('000 ounces) (c)

 

461

730

807

617

734

1,328

1,351

(a) Includes a small amount of copper in precipitates.
(b) New metal excluding recycled material.
(c) Includes gold and silver in intermediate products.

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

 

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

COPPER & GOLD (continued)

 

 

 

 

 

 

 

 

Turquoise Hill Resources

 

 

 

 

 

 

 

 

Oyu Tolgoi mine (a)

33.5%

 

 

 

 

 

 

 

Mongolia

 

 

 

 

 

 

 

 

Ore Treated ('000 tonnes)

 

10,164

9,652

9,361

9,255

10,394

19,725

19,649

Average mill head grades:

 

 

 

 

 

 

 

 

Copper (%)

 

0.48

0.51

0.55

0.57

0.46

0.50

0.51

Gold (g/t)

 

0.26

0.38

0.56

0.58

0.31

0.25

0.44

Silver (g/t)

 

1.17

1.19

1.22

1.25

1.20

1.24

1.23

Copper concentrates produced ('000 tonnes)

178.8

179.8

189.0

210.1

180.6

356.1

390.7

Average concentrate grade (% Cu)

 

22.0

21.9

21.9

21.8

21.7

22.0

21.8

Production of metals in concentrates:

 

 

 

 

 

 

 

 

Copper in concentrates ('000 tonnes)

 

39.4

39.4

41.5

45.8

39.2

78.2

85.0

Gold in concentrates ('000 ounces)

 

50.0

77.0

116.7

120.1

71.8

91.7

191.9

Silver in concentrates ('000 ounces)

 

225

230

238

247

239

446

486

Sales of metals in concentrates:

 

 

 

 

 

 

 

 

Copper in concentrates ('000 tonnes)

 

46.1

36.0

40.2

38.5

46.6

80.4

85.1

Gold in concentrates ('000 ounces)

 

51

55

111

98

116

82

213

Silver in concentrates ('000 ounces)

 

250

201

216

200

245

456

445

(a) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources.

 

 

 

 

 

 

 

 

 

DIAMONDS

 

 

 

 

 

 

 

 

Argyle Diamonds

100.0%

 

 

 

 

 

 

 

Western Australia

 

 

 

 

 

 

 

 

AK1 ore processed ('000 tonnes)

 

1,428

1,465

1,292

1,248

1,427

2,688

2,674

AK1 diamonds produced ('000 carats)

 

3,476

3,830

3,211

2,786

3,292

7,027

6,079

Diavik Diamonds

60.0%

 

 

 

 

 

 

 

Northwest Territories, Canada

 

 

 

 

 

 

 

 

Ore processed ('000 tonnes)

 

652

670

651

620

671

1,208

1,291

Diamonds recovered ('000 carats)

 

1,916

1,776

1,797

1,683

1,980

3,690

3,663

 

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

IRON ORE

 

 

 

 

 

 

 

 

Rio Tinto Iron Ore

 

 

 

 

 

 

 

 

Western Australia

 

 

 

 

 

 

 

 

Pilbara Operations

 

 

 

 

 

 

 

 

Saleable iron ore production ('000 tonnes)

 

 

 

 

 

 

 

Hamersley mines

   (a)

56,034

54,583

56,364

51,218

50,087

109,665

101,304

Hamersley - Channar

60.0%

2,045

1,007

2,228

1,552

2,419

3,939

3,971

Hope Downs

50.0%

11,567

11,426

11,691

11,913

12,101

22,252

24,015

Robe River - Pannawonica (Mesas J and A)

53.0%

7,637

7,940

7,555

3,529

6,282

16,453

9,811

Robe River - West Angelas

53.0%

8,252

7,587

8,738

7,783

8,853

16,346

16,635

Total production ('000 tonnes)

 

85,534

82,542

86,576

75,995

79,741

168,654

155,736

Breakdown of total production:

 

 

 

 

 

 

 

 

Pilbara Blend Lump

 

26,253

24,461

26,084

24,068

24,291

51,084

48,359

Pilbara Blend Fines

 

37,368

35,696

38,085

34,924

35,194

72,924

70,118

Robe Valley Lump

 

2,699

2,774

2,659

1,198

2,266

5,693

3,465

Robe Valley Fines

 

4,937

5,166

4,896

2,331

4,015

10,760

6,346

Yandicoogina Fines (HIY)

 

14,277

14,446

14,852

13,473

13,975

28,193

27,448

Breakdown of total sales:

 

 

 

 

 

 

 

 

Pilbara Blend Lump

 

22,954

21,644

22,161

18,968

22,287

44,410

41,255

Pilbara Blend Fines

 

42,638

38,100

42,497

34,558

41,105

79,957

75,663

Robe Valley Lump

 

2,386

2,215

2,301

863

1,957

4,693

2,820

Robe Valley Fines

 

6,141

5,356

5,652

2,468

4,862

11,793

7,330

Yandicoogina Fines (HIY)

 

14,388

14,583

14,831

12,294

15,212

27,966

27,505

Total sales ('000 tonnes) (b) (c)

 

88,506

81,898

87,442

69,150

85,423

168,820

154,573

(a) Includes 100% of production from Paraburdoo, Mt Tom Price, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass and the Eastern Range mines. Whilst Rio Tinto owns 54% of the Eastern Range mine, under the terms of the joint venture agreement, Hamersley Iron manages the operation and is obliged to purchase all mine production from the joint venture and therefore all of the production is included in Rio Tinto's share of production.
(b) Pilbara Blend sales include 2.4 million tonnes of alternate products in Q2 2019 and 3.9 million tonnes in H1 2019
(c) Sales represent iron ore exported from Western Australian ports.

Iron Ore Company of Canada

58.7%

 

 

 

 

 

 

 

Newfoundland & Labrador and Quebec in Canada

 

 

 

 

 

 

 

Saleable iron ore production:

 

 

 

 

 

 

 

 

Concentrates ('000 tonnes)

 

974

1,926

2,441

1,516

2,031

2,334

3,547

Pellets ('000 tonnes)

 

510

2,979

2,389

2,709

2,280

3,177

4,989

IOC Total production ('000 tonnes)

 

1,484

4,905

4,830

4,225

4,311

5,510

8,536

Sales:

 

 

 

 

 

Concentrates ('000 tonnes)

 

105

2,590

2,653

878

2,239

1,376

3,117

Pellets ('000 tonnes)

 

343

2,825

2,581

2,684

2,424

3,024

5,108

IOC Total Sales ('000 tonnes)

 

449

5,415

5,234

3,562

4,663

4,400

8,225

Global Iron Ore Totals

 

 

 

 

 

 

 

 

Iron Ore Production ('000 tonnes)

 

87,018

87,448

91,406

80,219

84,052

174,164

164,272

Iron Ore Sales ('000 tonnes)

 

88,954

87,314

92,676

72,712

90,085

173,220

162,798

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

Rio Tinto operational data

 

 

 

 

 

 

 

 

 

 

Rio Tinto
interest

Q2
2018

Q3
2018

Q4
2018

Q1
2019

Q2
2019

H1
2018

H1
2019

 

 

 

 

 

 

 

 

 

SALT

 

 

 

 

 

 

 

 

Dampier Salt

68.4%

 

 

 

 

 

 

 

Western Australia

 

 

 

 

 

 

 

 

Salt production ('000 tonnes)

 

2,431

2,167

2,188

1,917

1,856

4,646

3,773

 

 

 

 

 

 

 

 

 

TITANIUM DIOXIDE SLAG

 

 

 

 

 

 

 

 

Rio Tinto Iron & Titanium

100.0%

 

 

 

 

 

 

 

Canada and South Africa

 

 

 

 

 

 

 

 

(Rio Tinto share) (a)

 

 

 

 

 

 

 

 

Titanium dioxide slag ('000 tonnes)

 

232

297

294

296

303

525

599

 

 

 

 

 

 

 

 

 

(a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74% interest in Richards Bay Minerals' production. Ilmenite mined in Madagascar is being processed in Canada.

 

 

 

 

 

 

 

 

 

URANIUM

 

 

 

 

 

 

 

 

Energy Resources of Australia Ltd

 

 

 

 

 

 

 

 

Ranger mine (a)

68.4%

 

 

 

 

 

 

 

Northern Territory, Australia

 

 

 

 

 

 

 

 

U3O8 Production ('000 lbs)

 

881

1,199

1,351

1,160

906

1,856

2,066

(a) ERA production data are drummed U3O8.

 

 

 

Rössing Uranium Ltd (a) (b)

68.6%

 

 

 

 

 

 

 

Namibia

 

 

 

 

 

 

 

 

U3O8 Production ('000 lbs)

 

1,352

1,449

1,427

1,168

1,665

2,589

2,833

(a) Rössing production data are drummed U3O8.
(b) On 26 November 2018, Rio Tinto signed a binding agreement to sell its 68.62% interest in the Rossing mine in Namibia to China National Uranium Corporation Limited.

Rio Tinto percentage interest shown above is at 30 June 2019. The data represent full production and sales on a 100% basis unless otherwise stated.

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
UPDUVRORKUABAUR

Companies

Rio Tinto (RIO)
UK 100

Latest directors dealings