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Rio Tinto (RIO)

  Print      Mail a friend       Annual reports

Wednesday 16 July, 2014

Rio Tinto

Rio Tinto delivers very strong first half

RNS Number : 4232M
Rio Tinto PLC
15 July 2014
 



 

Rio Tinto delivers very strong first half production

 

16 July 2014

 

Rio Tinto chief executive Sam Walsh said "We achieved another half of very strong operating performance, powered by productivity gains across our business. Our iron ore expansion continues to deliver high-margin growth reinforcing our position as a low cost producer. It has allowed us to increase shipments of our Pilbara Blend products, providing our customers with reliable, long-term supply of stable quality. Healthy copper volumes reflect higher grades and recoveries at Kennecott Utah Copper, as well as the ramp up at Oyu Tolgoi. With a relentless focus on achieving sustainable cost savings while delivering the highest quality growth, we continue to transform Rio Tinto into a stronger, more disciplined business that will consistently deliver strong cash flows and shareholder value."

 

Highlights (Rio Tinto share unless stated otherwise)



Q2'14

vs Q2'13

vs Q1'14

H1'14

vs H1'13

Global iron ore shipments (100% basis)

mt

75.7

+23%

+13%

142.4

+20%

Global iron ore production (100% basis)

mt

73.1

+11%

+10%

139.5

+10%

Mined copper

kt

164.8

+28%

+4%

323.0

+23%

Bauxite

mt

10.1

-7%

+1%

20.2

-2%

Aluminium

kt

839

0%

+1%

1,671

0%

Hard coking coal

mt

2.0

+6%

+8%

3.9

+9%

Semi-soft and thermal coal

mt

6.7

-7%

-2%

13.5

+2%

Titanium dioxide feedstock

kt

372

-19%

-4%

762

-14%

 

·      Record first half iron ore shipments, production and rail volumes. Shipments from the Pilbara exceeded production as stocks built ahead of the delivery of the expanded infrastructure were drawn down, while existing mines continue to be expanded to utilise increased rail and port capacity.

·      In May, Rio Tinto announced that its Pilbara iron ore system of mines, rail and ports reached a run rate of 290 million tonnes a year (Mt/a), two months ahead of schedule.

·      The rail duplication and trackwork required for the 360 Mt/a expansion is now complete. Critical 360 Mt/a port infrastructure remains on track for completion by the end of the first half of 2015.

·      Full year production guidance for copper has been increased following strong production during the first half, driven by higher grades and concentrator recoveries at Kennecott Utah Copper and the ramp up at Oyu Tolgoi. These led to a 23 per cent increase on a like-for-like basis in the half, and more than offset the impact of divestments in 2013. Sales exceeded production at Oyu Tolgoi in the half as logistics commissioning issues were resolved enabling a strong acceleration in shipments.

·      Gove has been operating as a bauxite export business since the curtailment of the refinery in May and is expected to ramp up from current export capacity of 6 Mt/a to 8 Mt/a by the end of 2015. First half global bauxite production was lower than 2013 as the Gove mine adjusted production to reflect the staged curtailment of the alumina refinery during the first half.

·      First half aluminium production was in line with last year, with productivity gains across the smelter portfolio offsetting the loss of production from the closure of Shawinigan in November 2013.

·      Production of hard coking coal improved in the first half of 2014 following completion of the extension project at the Kestrel mine in the second half of 2013. Thermal coal production set a new first half record, up six per cent on last year.

·      Titanium dioxide production was down in the first half as the business continues to match production volumes to underlying demand.

·      Exploration and evaluation expenditure was $340 million in the first half of 2014, sustaining the savings achieved in 2013 whilst continuing to progress the highest priority projects.

·      The sale of Rio Tinto's interest in the Clermont thermal coal mine completed on 29 May for cash consideration of $1.015 billion, before adjustments for working capital and net debt.

 

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 2013 have been excluded.

IRON ORE

 

Rio Tinto share of production (million tonnes)


Q2 2014

vs Q2 2013

vs Q1 2014

H1 2014

vs H1 2013

Pilbara Blend Lump

14.5

+10%

+10%

27.8

+10%

Pilbara Blend Fines

22.7

+22%

+16%

42.3

+15%

Robe Valley Lump

1.5

+9%

+7%

2.9

+11%

Robe Valley Fines

3.0

-1%

+3%

5.9

+4%

Yandicoogina Fines (HIY)

13.4

+1%

0%

26.8

+5%

IOC (pellets and concentrate)

2.4

+1%

+34%

4.1

-5%

 

Global iron ore production of 139.5 million tonnes (Rio Tinto share 109.9 million tonnes) and global shipments of 142.4 million tonnes set new first half records. Rio Tinto's share of production in the half was ten per cent higher than in the same period of 2013.

 

Pilbara operations

First half production of 132.4 million tonnes (Rio Tinto share 105.7 million tonnes) was 11 per cent higher than the same period in 2013 and set a new first half record, driven by productivity improvements and the ramp up to the 290Mt/a run rate achieved in May, two months ahead of schedule.

 

Production in the second quarter was 69.1 million tonnes (Rio Tinto share 55.2 million tonnes) which is 11 per cent higher than in the same period last year. A significant proportion of the additional tonnes have gone directly into Pilbara Blends, the largest traded iron ore products by volume and the industry reference iron ores in Asian steel markets.

 

Pilbara sales

Record first half sales of 136.1 million tonnes (100 per cent basis) were 22 per cent higher than the same period of 2013. Sales in the first half continued to exceed production due to the drawdown of stockpiled iron ore inventory built at Pilbara mine sites in previous years to facilitate a ramp up of the expanded port and rail facilities to 290Mt/a. 

 

The growth of our Pilbara iron ore business has enabled us to deliver additional Pilbara Blend iron ore volumes to Asian steel markets, providing our customers with reliable, long-term supply of stable quality. Our Yandicoogina and Robe Valley products remained in high demand from major steel mills in Asia.

 

Approximately 25 per cent of sales in the first half of 2014 were priced with reference to the prior quarter's average index lagged by one month. The remainder was sold either on the current quarter average, current month average or on the spot market.

 

Second quarter sales set a new quarterly record of 71.8 million tonnes (100 per cent basis), 27 per cent higher than the same period of 2013.

 

Pilbara expansion

The rail duplication and trackwork required for the 360Mt/a expansion is now complete. Critical 360 Mt/a port infrastructure remains on track for completion by the end of the first half of 2015.

 

In November 2013, Rio Tinto set out its breakthrough pathway to optimise the growth of mine capacity towards 360 Mt/a at a target all-in capital intensity of between $120-130 per tonne (100 per cent basis or low-US$100s a tonne Rio Tinto share), significantly lower than originally planned. A series of low-cost brownfield expansions will bring on additional tonnes to feed the expanded infrastructure. From a base run rate of 290 Mt/a in May 2014, annual mine production capacity is planned to increase by more than 60 million tonnes between 2014 and 2017. The majority of the low-cost growth will be delivered in the next two years, with mine production of more than 330 million tonnes (100 per cent basis) expected from the Pilbara in 2015.

 

Iron Ore Company of Canada (IOC)

Second quarter production was slightly higher than the same period of 2013 as operations recovered from an unusually cold winter. Sales continued to be constrained by frozen material during the second quarter. As a result, pellet sales were 25 per cent lower and concentrate sales were 15 per cent lower than in the second quarter of 2013.

 

2014 shipping and production guidance

Rio Tinto expects 2014 global shipments of approximately 300 million tonnes (100 per cent basis). 2014 global production guidance is unchanged at 295 million tonnes (100 per cent basis), subject to weather constraints. Around five million tonnes of iron ore inventory is expected to be drawn down at the Pilbara mines during the year.

 

 

COPPER

 

Rio Tinto share of production


Q2 2014

vs Q2 2013

vs Q1 2014

H1 2014

vs H1 2013

Kennecott Utah Copper






Mined copper (000 tonnes)

61.9

+58%

-11%

131.0

+50%

Refined copper (000 tonnes)

70.1

+79%

+32%

123.2

+38%

Molybdenum (000 tonnes)

2.5

+177%

+162%

3.4

+27%

Mined gold (000 oz)

77.0

+146%

+22%

140.3

+81%

Refined gold (000 oz)

59.8

+35%

-4%

121.8

+17%

Escondida






Mined copper (000 tonnes)

89.4

+4%

+13%

168.2

-2%

Refined copper (000 tonnes)

24.5

+3%

+8%

47.2

+2%

Grasberg






Mined copper (000 tonnes)

1.5

N/A

-13%

3.2

N/A

Mined gold (000 oz)

0.3

N/A

-33%

0.7

N/A

Oyu Tolgoi






Mined copper (000 tonnes)

12.1

+176%

+43%

20.6

+369%

Mined gold (000 oz)

37.9

+439%

+72%

59.9

+751%

 

Kennecott Utah Copper

First half production of copper and gold contained in concentrates improved significantly on the same period in 2013, reflecting the recovery from the pit wall slide experienced in April 2013. Production in the second quarter was higher than the same period last year due to sustained improvements in grades at the mine, higher throughput and improved recoveries at the concentrator following completion of the flotation expansion in the third quarter of 2013. Molybdenum production in the first half was 27 per cent higher than in the first half of 2013 due to higher grades and throughput.

 

Copper cathode production for the first half was 38 per cent higher than in the same period in 2013 as production was brought forward in anticipation of the 65-day smelter shutdown planned to start in September, which will lead to lower cathode production in the second half of 2014.

 

Escondida

Mined copper production decreased two per cent on the first half of 2013, driven by lower ore grades, which was partially offset by higher mill throughput. Second quarter production was up four per cent on the same period last year, with higher throughput offsetting lower grades.

 

Oyu Tolgoi / Turquoise Hill Resources

Production for the first half was 61.5 thousand tonnes of copper and 178.6 thousand ounces of gold in concentrates (Rio Tinto share 20.6 thousand tonnes and 59.9 thousand ounces, respectively). Production was higher in the second quarter due to the shutdown of one grinding circuit line in the first quarter to complete inspections and repairs following post-commissioning issues.

 

Customer collections of concentrate from the Chinese bonded warehouse accelerated, with the sale of 64.7 thousand tonnes of copper and 154.0 thousand ounces of gold in concentrates (100 per cent basis) recognised in the first half of 2014 (of which 51.6 thousand tonnes of copper and 126.2 thousand ounces of gold took place in the second quarter). Monthly sales exceeded production, resulting in a drawdown of inventories, which should ensure that inventories approach appropriate levels by the end of 2014.

 

On 23 June, Oyu Tolgoi LLC received an audit report from the Mongolian Tax Authority claiming unpaid taxes, penalties and disallowed entitlements associated with the initial development of the Oyu Tolgoi mine. On 25 June, Turquoise Hill Resources Limited, a 50.8 per cent owned subsidiary of Rio Tinto, notified shareholders that a notice of dispute had been filed with the Government of Mongolia.

 

Grasberg

Based on the latest available forecast from Freeport-McMoran Copper & Gold, a small proportion of copper and gold production in the first half has been attributed to Rio Tinto.

 

Sulawesi project

In July 2014, the Group divested its interest in the Sulawesi nickel project in Indonesia as part of its continued repositioning of the Copper portfolio to focus on its four tier one operating assets and two world class greenfield projects.

 

Provisional pricing

At 30 June 2014, the Group had an estimated 266 million pounds of copper sales that were provisionally priced at US 317 cents per pound. The final price of these sales will be determined during the second half of 2014. This compared with 254 million pounds of open shipments at 31 December 2013, provisionally priced at US 333 cents per pound.

 

2014 production guidance

Rio Tinto is increasing its copper guidance for the year. It now expects its share of mined copper production to be approximately 585,000 tonnes (previously 570,000) and refined copper production to be 300,000 tonnes (previously 260,000).

 

 

ALUMINIUM

 

Rio Tinto share of production (000 tonnes)


Q2 2014

vs Q2 2013

vs Q1 2014

H1 2014

vs H1 2013

Rio Tinto Alcan






Bauxite

10,144

-7%

+1%

20,188

-2%

Alumina

1,795

+1%

-3%

3,650

+9%

Aluminium

839

0%

+1%

1,671

0%

Other operations






Gove alumina refinery

139

-70%

-74%

676

-37%

 

In May 2014, Rio Tinto completed the curtailment of alumina production at Gove. The refinery is now on care and maintenance and continues to be reported separately from Rio Tinto Alcan.

 

Bauxite

Gove has been operating as a bauxite export business since the curtailment of the refinery in May. Bauxite production and export capacity at Gove are expected to ramp up from current capacity of 6 Mt/a to 8 Mt/a by the end of 2015 following upgrades to export infrastructure. First half bauxite production was lower than 2013 as the Gove bauxite mine adjusted production to reflect the staged curtailment of the Gove alumina refinery during the first half.

 

Alumina

Excluding the Gove alumina refinery which is reported separately from the Rio Tinto Alcan refineries, production in the first half was up by nine per cent compared to 2013 reflecting stronger production at Yarwun and Queensland Alumina which were both impacted by ex-tropical cyclone Oswald in the first half of 2013. Production at Yarwun is expected to reach full capacity during the second half of 2015 as refinery design and construction challenges are progressively addressed.

 

Aluminium

Aluminium production in the first half was in line with the same period of last year, with productivity gains across the portfolio of smelters. These gains, coupled with production from the new AP60 smelter, offset the loss of production from Shawinigan which closed in November last year.

 

In June 2014, one potline (24 thousand tonnes of capacity) was closed at the Kitimat smelter as part of the transition to the commissioning of the modernised and expanded Kitimat facility, which is scheduled to produce first hot metal in the first half of 2015.

 

On 3 July, Rio Tinto Alcan signed an agreement to sell its 50 per cent shareholding in the SØRAL aluminium smelter in Norway to its joint venture partner at the plant, Hydro Aluminium ASA. The transaction is subject to customary conditions and is expected to close in the second half of 2014.

 

2014 production guidance

Rio Tinto's share of bauxite and aluminium production for 2014 is unchanged and is expected to be 41 million tonnes and 3.4 million tonnes, respectively. Alumina production guidance is revised to 7.6 million tonnes (previously 8.0 million tonnes). This excludes alumina production from the Gove alumina refinery, which moved to care and maintenance in May 2014.

 

 

ENERGY

 

Coal

Rio Tinto share of production (000 tonnes)


Q2 2014

vs Q2 2013

vs Q1 2014

H1 2014

vs H1 2013

Rio Tinto Coal Australia






Hard coking coal

1,828

+4%

+1%

3,642

+10%

Semi-soft coking coal

903

-21%

-4%

1,839

-16%

Thermal coal

5,581

-5%

-4%

11,388

+6%







Rio Tinto Coal Mozambique






Hard coking coal

187

+31%

+216%

246

-3%

Thermal coal

176

+34%

+229%

230

-4%

 

Hard coking coal production in Australia was ten per cent higher than the first half of 2013. This was largely driven by increased coal production at the Kestrel mine, where the coal handling preparation plant had been shut for upgrade works in the first half of 2013 as part of the extension project completed later that year.

 

Semi-soft coking coal production was 16 per cent lower than the first half of 2013 and 21 per cent lower than the second quarter of 2013. This reflects changes in the production mix to maximise higher margin thermal coal.

 

Australian thermal coal production increased by six per cent compared with the first half of 2013 due to productivity gains in the Hunter Valley and additional production from a processing plant by-product stream at Hail Creek. This was partially offset by the absence of production from Clermont following completion of the divestment of Rio Tinto's 50.1 per cent interest in the mine in the second quarter 2014.

 

First half production in Mozambique was affected by rail and port constraints, as well as stoppages and operational changes in the first quarter. Second quarter production was stronger than the same period of last year due to productivity and yield improvements.

 

Uranium

Rio Tinto share of production (000 lbs)


Q2 2014

vs Q2 2013

vs Q1 2014

H1 2014

vs H1 2013

Energy Resources of Australia

0

-100%

N/A

0

-100%

Rössing

455

-53%

-29%

1,099

-44%

 

The progressive restart of processing operations at ERA began on 5 June following the receipt of all necessary regulatory approvals. Processing operations had been suspended since December 2013 following the failure of a leach tank.

 

First half production at Rössing was 44 per cent lower than in the first half of 2013. This was the result of reduced mill throughput and recoveries in the first quarter following the temporary plant stoppage caused by a leach tank failure in December 2013, along with a planned maintenance shutdown in the second quarter.

 

2014 production guidance

Rio Tinto is increasing its expected share of thermal coal production to 17.5 million tonnes (previously 16.7 million tonnes). This follows a change in the production profile to produce additional higher margin thermal coal from a processing plant by-product stream at Hail Creek. As a result of this change and lower than expected production during the ramp up at Kestrel, Australian hard coking coal production has decreased to 7.4 million tonnes (previously 8.2 million tonnes). Semi-soft coking coal production guidance remains unchanged at 3.0 million tonnes.

 

Rio Tinto's share of uranium production across Rössing and ERA in 2014 is expected to be between 4.3 and 5.1 million pounds. This follows operational changes at Rössing in response to current market conditions. Progression to full processing capacity at ERA is anticipated in the third quarter.

 

 

DIAMONDS & MINERALS

 

Rio Tinto share of production


Q2 2014

vs Q2 2013

vs Q1 2014

H1 2014

vs H1 2013

Diamonds (000 carats)






Argyle

2,459

-21%

0%

4,920

-4%

Diavik

1,290

+38%

+15%

2,409

+15%

Murowa

83

+21%

+20%

152

+4%







Minerals (000 tonnes)






Borates - B2O3 content

133

-3%

+6%

259

+4%

Titanium dioxide feedstock

372

-19%

-4%

762

-14%







Salt (000 tonnes)

1,788

+7%

+13%

3,374

+4%

 

Diamonds

At Argyle, carats recovered were four per cent lower than the first half of 2013 reflecting the move from open pit to underground mining and the processing of lower grade tailings in the first quarter of 2014 as underground production ramped up. The underground project remains on track, with the second crusher being commissioned in July this year.

 

Diavik had a strong operational performance in the first half with a 15 per cent increase in carats produced compared to the corresponding period of 2013. This was due to improvements in mining rates, with all three pipes in full production, as well as processing plant improvements implemented over the past six months. These improvements enabled a strong second quarter of production, 15 per cent higher than the first quarter.

 

First half carats recovered at Murowa were four per cent higher than the first half of 2013 due to improved throughput and processing previously stockpiled material.

 

Minerals

Borates production in the first half was four per cent higher than the same period in 2013 in response to higher sales demand in the half and in preparation for the commissioning of the new modified direct dissolving of kernite (MDDK) process plant in the third quarter of 2014. Production in the second quarter was six per cent higher than the first quarter following stronger sales demand.

 

Rio Tinto Iron and Titanium (RTIT)

Titanium dioxide feedstock production was 14 per cent lower than the first half of 2013 reflecting soft market demand. Production continues to be optimised to align with market demand and, as a result, the planned rebuild of one of nine furnaces at Rio Tinto Fer et Titane (RTFT) remains postponed. Second quarter production in 2014 was four per cent lower than the first quarter as production was reduced to match shipments of chloride feedstock.

 

Salt

First half production of salt was four per cent higher than the same period of 2013 due to productivity improvements and better weather conditions.

 

2014 production guidance

2014 production guidance is unchanged. Rio Tinto's share of production is expected to be 1.5 million tonnes of titanium dioxide feedstocks, 0.5 million tonnes of boric oxide equivalent and 16 million carats of diamonds.

 

 

CORPORATE

 

On 7 April, Rio Tinto announced that it had gifted its 19.1 per cent shareholding in Northern Dynasty Minerals Ltd, owner of the Pebble Project, to two local Alaskan charitable foundations committed to educational, vocational and cultural programmes. The decision followed a strategic review which concluded that the Pebble Project did not fit with Rio Tinto's strategy.

 

On 26 May, Rio Tinto and its partners, Chinalco and the International Finance Corporation, signed the Investment Framework with the Government of Guinea for blocks 3 and 4 of the Simandou project. This marked a significant milestone, providing the legal and commercial foundation for the project. The Investment Framework was ratified by the Guinean National Assembly in June 2014, followed by the Supreme Court review and the Presidential promulgation. The project partners are continuing to work towards the development of a bankable feasibility study which is due to be completed within approximately one year.

 

 

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 2014 was $340 million compared with $542 million in 2013, sustaining the savings achieved in the first half of 2013 whilst continuing to progress the highest priority projects.

 

In the half, approximately 35 per cent was incurred by the Copper Group, four per cent by Iron Ore, 20 per cent by Energy, 17 per cent by Diamonds and Minerals, one per cent by Aluminium and the balance by Central Exploration.

 

There were no significant divestments of central exploration properties in the first half of 2014 or 2013.

 

Exploration highlights

 

Iron Ore

In the Pilbara, Western Australia, data processing and interpretation of airborne geophysical surveys continued. In Botswana, a drilling programme continued.

 

Copper

In the United States, field mapping, sampling and drilling continued across copper projects in Utah, Arizona and Montana. In South America, field reconnaissance, sampling and drilling occurred across projects in Chile and Peru. In Zambia, mapping and ground geophysical surveys were undertaken. In China, CRTX, the Chinalco Rio Tinto Exploration Joint Venture, commenced field mapping and geophysical surveys.

 

Nickel

In Canada, field mapping and drilling commenced targeting nickel sulphides.

 

Bauxite

In Brazil, field mapping and drilling continued across several targets. In Laos, exploration continued with bulk sampling and interpretation of geophysical results.

 

Coal

In the Bowen Basin (Queensland, Australia), field activities included mapping and ground geophysics.

 

Uranium

In the Athabasca, Canada, interpretation and geological modelling progressed on a number of targets drilled during the winter.

 

Diamonds

In India, gravel sampling and ground geophysical surveys continued.

 

Heavy Mineral Sands

In Gabon, auger drilling commenced over heavy mineral sands target areas.

 

A summary of activity for the period is as follows:

 

Product Group

Evaluation

projects

Advanced

projects

Greenfield

programmes

Aluminium

Amargosa, Brazil; Cape York, Australia

Amargosa orbit, Brazil

Australia, Brazil, Laos

Copper

Copper/molybdenum: Resolution, US

Copper: La Granja, Peru

Copper/gold: Oyu Tolgoi, Mongolia

Nickel: Tamarack, US

Copper: Australia, US, Chile, Peru, Zambia, Russia, Kazakhstan, Uzbekistan, Mongolia, China

Diamonds & Minerals

Diamonds: Bunder, India

Lithium borates: Jadar, Serbia

Heavy mineral sands: Mutamba, Mozambique


Diamonds: India

Heavy mineral sands: Gabon

Energy

Coal: Mt Pleasant, Australia

Uranium: Ranger 3 Deeps, Australia

Roughrider, Canada Rössing Z20, Namibia

Coal: Bowen Basin, Australia

 

Uranium: Canada, US, Australia

Iron Ore

Simandou, Guinea

Pilbara, Australia

Pilbara, Australia

Botswana

 

Mine-lease exploration continued at a number of Rio Tinto businesses including: Pilbara Iron, Rio Tinto Coal Australia, Richards Bay, Oyu Tolgoi, Resolution, Roughrider and Sweetwater.

Contacts

 

media.enquiries@riotinto.com

 

www.riotinto.com

 

 Follow @riotinto on Twitter

 

 

 

Media Relations, EMEA/Americas

Illtud Harri

T +44 20 7781 1152

M +44 7920 503 600

 

David Outhwaite

T +44 20 7781 1623

M +44 7787 597 493

 

Investor Relations, EMEA/Americas

Mark Shannon

T +44 20 7781 1178

M +44 7917 576597

 

David Ovington

T +44 20 7781 2051

M +44 7920 010 978

 

Grant Donald

T +44 20 7781 1262

M +44 7920 587 805

Media Relations, Australia/Asia

David Luff

T +61 3 9283 3620

M +61 419 850 205

 

Bruce Tobin

T +61 3 9283 3612

M +61 419 103 454

 

Investor Relations, Australia/Asia

Christopher Maitland

T +61 3 9283 3063

M +61 459 800 131

Rachel Storrs

T +61 3 9283 3628

M +61 417 401 018

 

Galina Rogova

T +852 2839 9208

M +852 6978 3011

 

 

 

 



 

 

Rio Tinto plc

2 Eastbourne Terrace

London W2 6LG

United Kingdom

 

T +44 20 7781 2000
Registered in England

No. 719885

Rio Tinto Limited

120 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



2013
Q2

2014
Q1

2014
Q2


2013
H1

2014
H1


Q2 14 
vs
Q2 13

Q2 14 
vs
Q1 14

H1 14 
vs
H1 13

Principal Commodities












Alumina

('000 t)

2,246

2,392

1,934


4,432

4,326


-14%

-19%

-2%

Aluminium

('000 t)

843

832

839


1,677

1,671


0%

1%

0%

Bauxite

('000 t)

10,960

10,044

10,144


20,522

20,188


-7%

1%

-2%

Borates

('000 t)

137

126

133


248

259


-3%

6%

4%

Coal - hard coking

('000 t)

1,902

1,874

2,015


3,552

3,888


6%

8%

9%

Coal - semi-soft coking

('000 t)

1,147

936

903


2,186

1,839


-21%

-4%

-16%

Coal - thermal

('000 t)

5,978

5,860

5,758


11,030

11,618


-4%

-2%

5%

Copper - mined

('000 t)

129.2

158.2

164.8


263.0

323.0


28%

4%

23%

Copper - refined

('000 t)

63.0

75.8

94.6


135.9

170.4


50%

25%

25%

Diamonds

('000 cts)

4,135

3,650

3,832


7,370

7,482


-7%

5%

2%

Iron ore

('000 t)

51,829

52,339

57,530


100,079

109,869


11%

10%

10%

Titanium dioxide feedstock

('000 t)

461

389

372


888

762


-19%

-4%

-14%

Uranium

('000 lbs)

2,408

644

455


4,744

1,099


-81%

-29%

-77%

Other Metals & Minerals












Gold - mined

('000 oz)

45

94

123


99

217


171%

31%

119%

Gold - refined

('000 oz)

44

62

60


104

122


35%

-4%

17%

Molybdenum

('000 t)

0.9

0.9

2.5


2.7

3.4


177%

162%

27%

Salt

('000 t)

1,670

1,586

1,788


3,255

3,374


7%

13%

4%

Silver - mined

('000 oz)

766

1,197

1,372


1,690

2,569


79%

15%

52%

Silver - refined

('000 oz)

457

598

818


1,130

1,417


79%

37%

25%

 

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 full year figures.

 



 

Rio Tinto share of production






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










ALUMINA









Production ('000 tonnes)









Rio Tinto Alcan









  Jonquière (Vaudreuil)

100%

346

353

378

360

352

708

713

  Queensland Alumina

80%

697

695

722

697

668

1,290

1,365

  São Luis (Alumar)

10%

84

85

91

88

87

167

175

  Yarwun

100%

620

608

696

683

661

1,143

1,344

  Jonquière (Vaudreuil) specialty alumina plant

100%

30

25

23

26

27

55

53

Rio Tinto Alcan total


1,776

1,764

1,909

1,856

1,795

3,363

3,650

Other Aluminium - Gove refinery (a)

100%

470

528

673

537

139

1,069

676

Rio Tinto total alumina production


2,246

2,293

2,582

2,392

1,934

4,432

4,326










ALUMINIUM









Production ('000 tonnes)









Rio Tinto Alcan









  Australia - Bell Bay

100%

47

47

47

46

47

93

93

  Australia - Boyne Island

59%

83

84

83

76

81

166

157

  Australia - Tomago

52%

69

71

72

70

71

138

142

  Cameroon - Alucam (Edéa)

47%

8

11

11

11

11

13

22

  Canada - seven wholly owned (b) (c)

100%

338

335

331

322

320

667

642

  Canada - Alouette (Sept-Îles)

40%

58

57

59

58

58

117

116

  Canada - Bécancour

25%

27

28

27

28

28

54

56

  France - Dunquerque

100%

60

66

68

67

67

124

134

  Iceland - ISAL (Reykjavik)

100%

50

49

49

50

52

99

102

  New Zealand - Tiwai Point

79%

62

64

66

64

65

127

129

  Norway - SØRAL (Husnes) (d)

50%

11

11

12

11

11

22

23

  Oman - Sohar

20%

18

18

17

18

18

36

36

  UK - Lochaber

100%

11

11

11

10

10

23

20

Rio Tinto total aluminium production


843

853

853

832

839

1,677

1,671










BAUXITE









Production ('000 tonnes) (e)









Rio Tinto Alcan









   Gove

100%

1,857

1,983

2,271

1,804

1,426

3,775

3,230

   Porto Trombetas

12%

473

506

525

438

470

857

908

   Sangaredi

   (f)

1,831

1,790

1,848

1,686

1,885

3,308

3,571

   Weipa

100%

6,800

6,971

6,787

6,116

6,363

12,583

12,479

Rio Tinto total bauxite production


10,960

11,250

11,432

10,044

10,144

20,522

20,188

 



 

Rio Tinto share of production






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










BORATES









Production ('000 tonnes B2O3 content)









  Rio Tinto Minerals - borates

100%

137

127

121

126

133

248

259










COAL - hard coking









Rio Tinto Coal Australia ('000 tonnes)









  Hail Creek Coal

82%

1,373

1,483

1,536

1,190

1,338

2,590

2,528

  Kestrel Coal

80%

387

608

726

625

490

708

1,115

Total Rio Tinto Coal Australia hard coking coal


1,759

2,091

2,262

1,814

1,828

3,298

3,642

Rio Tinto Coal Mozambique









  Benga

65%

143

162

148

59

187

254

246

Rio Tinto total hard coking coal production


1,902

2,253

2,410

1,874

2,015

3,552

3,888










COAL - semi-soft coking









Rio Tinto Coal Australia ('000 tonnes)









  Hunter Valley

80%

463

466

527

431

385

1,114

816

  Mount Thorley

64%

364

241

305

355

365

635

719

  Warkworth

44%

320

43

90

151

153

437

304

Rio Tinto total semi-soft coking coal production


1,147

750

922

936

903

2,186

1,839










COAL - thermal









Rio Tinto Coal Australia ('000 tonnes)









  Bengalla

32%

721

710

638

758

654

1,286

1,413

  Clermont (g)

0%

1,524

1,753

1,496

1,286

1,135

2,654

2,421

  Hail Creek Coal (h)

82%

-

21

136

320

344

-

664

  Hunter Valley

80%

2,553

2,330

2,026

2,350

2,183

4,446

4,532

  Kestrel Coal

80%

89

53

60

70

87

258

157

  Mount Thorley

64%

413

263

350

382

425

895

807

  Warkworth

44%

547

1,069

791

641

753

1,251

1,394

Total Rio Tinto Coal Australia thermal coal


5,846

6,198

5,497

5,806

5,581

10,789

11,388

Rio Tinto Coal Mozambique









  Benga

65%

132

122

127

54

176

241

230

Rio Tinto total thermal coal production


5,978

6,321

5,624

5,860

5,758

11,030

11,618



 

Rio Tinto share of production






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










COPPER









Mine production ('000 tonnes) (e)









  Bingham Canyon

100%

39.2

59.1

64.5

69.2

61.9

87.4

131.0

  Escondida

30%

85.6

81.5

83.8

78.8

89.4

171.2

168.2

  Grasberg - Joint Venture (i)

40%

0.0

0.0

6.3

1.7

1.5

0.0

3.2

  Oyu Tolgoi (j)

34%

4.4

10.3

11.0

8.5

12.1

4.4

20.6

Rio Tinto total mine production


129.2

150.9

165.6

158.2

164.8

263.0

323.0

Refined production ('000 tonnes)









  Escondida

30%

23.8

22.0

23.2

22.7

24.5

46.4

47.2

  Kennecott Utah Copper

100%

39.2

46.3

57.7

53.1

70.1

89.5

123.2

Rio Tinto total refined production


63.0

68.3

81.0

75.8

94.6

135.9

170.4










DIAMONDS









Production ('000 carats)









  Argyle

100%

3,130

3,085

3,153

2,461

2,459

5,120

4,920

  Diavik

60%

936

1,003

1,240

1,119

1,290

2,103

2,409

  Murowa

78%

69

70

105

69

83

147

152

Rio Tinto total diamond production


4,135

4,158

4,498

3,650

3,832

7,370

7,482










GOLD









Mine production ('000 ounces) (e)









  Barneys Canyon

100%

0.4

0.0

0.0

0.0

0.4

0.4

0.4

  Bingham Canyon

100%

31

56

74

63

77

77

140

  Escondida

30%

7

7

7

9

8

14

17

  Grasberg - Joint Venture (i)

40%

0.0

0.0

0.0

0.4

0.3

0.0

0.7

  Oyu Tolgoi (j)

34%

7

21

25

22

38

7

60

Rio Tinto total mine production


45

83

106

94

123

99

217

Refined production ('000 ounces)









  Kennecott Utah Copper

100%

44

40

48

62

60

104

122



 

Rio Tinto share of production






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










IRON ORE









Production ('000 tonnes) (e)









  Hamersley - six wholly owned mines

100%

32,946

33,707

35,868

33,898

37,018

63,720

70,916

  Hamersley - Channar

60%

1,742

1,528

1,615

1,642

1,642

3,485

3,284

  Hamersley - Eastern Range

   (k)

2,460

2,571

2,513

2,447

2,725

4,968

5,172

  Hope Downs

50%

3,965

4,504

4,556

4,780

5,093

7,834

9,873

  Iron Ore Company of Canada

59%

2,341

2,353

2,321

1,764

2,365

4,350

4,129

  Robe River

53%

8,375

8,714

8,637

7,808

8,687

15,722

16,495

Rio Tinto total iron ore production


51,829

53,377

55,510

52,339

57,530

100,079

109,869

Breakdown:









  Pilbara Blend Lump


13,217

13,269

13,665

13,251

14,541

25,213

27,792

  Pilbara Blend Fines


18,572

19,237

20,480

19,616

22,669

36,753

42,285

  Robe Valley Lump


1,387

1,658

1,631

1,413

1,517

2,639

2,930

  Robe Valley Fines


3,039

3,066

2,960

2,916

3,012

5,700

5,928

  Yandicoogina Fines (HIY)


13,272

13,795

14,453

13,379

13,426

25,422

26,805

  IOC Concentrate


1,086

1,048

1,057

629

1,130

1,883

1,758

  IOC Pellets


1,255

1,305

1,264

1,136

1,235

2,468

2,371










MOLYBDENUM









Mine production ('000 tonnes) (e)









  Bingham Canyon

100%

0.9

1.2

1.8

0.9

2.5

2.7

3.4










SALT









Production ('000 tonnes)









  Dampier Salt

68%

1,670

1,586

1,886

1,586

1,788

3,255

3,374










SILVER









Mine production ('000 ounces) (e)









  Bingham Canyon

100%

431

852

930

744

864

1,094

1,608

  Escondida

30%

306

305

337

398

432

567

829

  Grasberg - Joint Venture (i)

40%

0

0

0

0

0

0

0

  Oyu Tolgoi (j)

34%

28

66

70

54

77

28

131

Rio Tinto total mine production


766

1,223

1,337

1,197

1,372

1,690

2,569

Refined production ('000 ounces)









  Kennecott Utah Copper

100%

457

395

633

598

818

1,130

1,417










TITANIUM DIOXIDE FEEDSTOCK









Production ('000 tonnes)









  Rio Tinto Iron & Titanium (l)

100%

461

373

361

389

372

888

762



 

Rio Tinto share of production






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










URANIUM









Production ('000 lbs U3O8)









  Energy Resources of Australia (m)

68%

1,433

920

758

0

0

2,785

0

  Rössing

69%

976

948

735

644

455

1,959

1,099

Rio Tinto total uranium production


2,408

1,868

1,493

644

455

4,744

1,099










Production data notes:

(a) The curtailment of production at the Gove refinery was completed on 28 May 2014.

(b) The Shawinigan smelter ceased production on 29 November 2013.

(c) Rio Tinto started production at the Arvida AP60 Technology Centre in the fourth quarter of 2013.

(d) On 3 July 2014, Rio Tinto Alcan reached a binding agreement for the sale of its 50% interest in the SØRAL (Husnes) smelter.

(e) 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.

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

(g) Rio Tinto sold its 50.1% interest in the Clermont mine with an effective date of 29 May 2014. Production is shown up to that date

(h) Hail Creek commenced production of thermal coal from reprocessed coking coal reject following completion of a successful trial in the third quarter of 2013.

(i) Through a joint venture agreement with Freeport-McMoRan Copper & Gold (FCX), Rio Tinto is entitled to 40% of additional material mined as a consequence of expansions and developments of the Grasberg facilities since 1998.

(j) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources Ltd. Production included in the table is from 1 May 2013.

(k) Rio Tinto's share of production includes 100% of the production from 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.

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

(m) ERA production has been restated from 'produced ready for packing' to 'drummed' U3O8, in line with production reported by Energy Resources of Australia Ltd to the Australian Stock Exchange (ASX).










The Rio Tinto percentage shown above is at 30 June 2014.

















Rio Tinto's interest in the Northparkes and Palabora mines and the Saint-Jean-de-Maurienne and Sebree smelters were sold in 2013.  No data for these operations are included in the Share of Production table.

 



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










ALUMINIUM









Rio Tinto Alcan - Bauxite









Bauxite production ('000 tonnes)









Australia









  Gove mine - Northern Territory

100.0%

1,857

1,983

2,271

1,804

1,426

3,775

3,230

  Weipa mine - Queensland

100.0%

6,800

6,971

6,787

6,116

6,363

12,583

12,479

Brazil









  Porto Trombetas (MRN) mine

12.0%

3,941

4,214

4,376

3,649

3,918

7,139

7,567

Guinea









  Sangaredi mine (a)

23.0%

4,070

3,978

4,107

3,747

4,189

7,352

7,937










Rio Tinto Alcan share of bauxite shipments









Share of bauxite shipments ('000 tonnes)


11,148

11,166

11,268

9,829

10,065

20,529

19,895


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

Rio Tinto Alcan - Smelter Grade Alumina









Alumina production ('000 tonnes)









Australia









  Queensland Alumina Refinery - Queensland

80.0%

872

868

903

872

835

1,613

1,706

  Yarwun refinery - Queensland

100.0%

620

608

696

683

661

1,143

1,344

Brazil









  São Luis (Alumar) refinery

10.0%

836

848

908

882

865

1,669

1,747

Canada









  Jonquière (Vaudreuil) refinery - Quebec (a)

100.0%

346

353

378

360

352

708

713


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

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










ALUMINIUM (continued)









Rio Tinto Alcan - Specialty Alumina









Specialty alumina production ('000 tonnes)









Canada









  Jonquière (Vaudreuil) plant - Quebec

100.0%

30

25

23

26

27

55

53

Rio Tinto Alcan - Primary Aluminium









Primary aluminium production ('000 tonnes)









Australia









  Bell Bay smelter - Tasmania

100.0%

47

47

47

46

47

93

93

  Boyne Island smelter - Queensland

59.4%

140

142

139

129

136

280

265

  Tomago smelter - New South Wales

51.6%

134

139

139

136

139

267

275

Cameroon









  Alucam (Edéa) smelter

46.7%

16

24

24

24

23

28

47

Canada









  Alma smelter - Quebec

100.0%

110

111

113

112

111

216

223

  Alouette (Sept-Îles) smelter - Quebec

40.0%

146

143

147

144

145

293

290

  Arvida smelter - Quebec

100.0%

44

45

43

42

43

87

85

  Arvida AP60 smelter - Quebec (a)

100.0%

-

-

9

14

15

-

29

  Bécancour smelter - Quebec

25.1%

108

110

109

111

111

215

222

  Grande-Baie smelter - Quebec

100.0%

56

56

56

56

55

111

111

  Kitimat smelter - British Columbia

100.0%

44

42

40

38

35

89

73

  Laterrière smelter - Quebec

100.0%

60

62

61

60

61

116

121

  Shawinigan smelter - Quebec (b)

100.0%

24

20

7

-

-

47

-

France









  Dunkerque smelter

100.0%

60

66

68

67

67

124

134

  Saint-Jean-de-Maurienne smelter (c)

0.0%

23

24

16

-

-

45

-

Iceland









  ISAL (Reykjavik) smelter

100.0%

50

49

49

50

52

99

102

New Zealand









  Tiwai Point smelter

79.4%

78

81

83

81

82

160

163

Norway









  SØRAL (Husnes) smelter (d)

50.0%

22

22

23

23

23

44

45

Oman









  Sohar smelter

20.0%

91

89

85

88

91

180

178

United Kingdom









  Lochaber smelter

100.0%

11

11

11

10

10

23

20


(a) Rio Tinto started production at the Arvida AP60 Technology Centre in the fourth quarter of 2013.
(b) The Shawinigan smelter ceased production on 29 November 2013.
(c) Rio Tinto sold its 100% interest in the Saint-Jean-de-Maurienne smelter with an effective date of 16 December 2013. Production is shown up to that date.
(d) On 3 July 2014, Rio Tinto Alcan reached a binding agreement for the sale of its 50% interest in the SØRAL (Husnes) smelter.

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










ALUMINIUM (continued)









Other Aluminium - Smelter Grade Alumina









Alumina production ('000 tonnes)









Australia









  Gove refinery - Northern Territory (a)

100.0%

470

528

673

537

139

1,069

676

Other Aluminium - Primary Aluminium









Primary aluminium production ('000 tonnes)









USA









  Sebree smelter - Kentucky (b)

0.0%

35

-

-

-

-

87

-


(a) The curtailment of production at the Gove refinery was completed on 28 May 2014.
(b) Rio Tinto sold its 100% interest in the Sebree smelter with an effective date of 1 June 2013. Production is shown up to that date.

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










BORATES









Rio Tinto Minerals - borates

100.0%








US and Argentina









  Borates ('000 tonnes) (a)


137

127

121

126

133

248

259


(a) Production is expressed as B2O3 content.










COAL









Rio Tinto Coal Australia









Bengalla mine

32.0%








New South Wales









  Thermal coal ('000 tonnes)


2,254

2,220

1,992

2,369

2,045

4,019

4,414

Clermont Coal mine (a)

0.0%








Queensland









  Thermal coal ('000 tonnes)


3,041

3,499

2,986

2,567

2,265

5,297

4,832

Hail Creek Coal mine

82.0%








Queensland









  Hard coking coal ('000 tonnes)


1,674

1,808

1,873

1,451

1,631

3,158

3,082

  Thermal coal ('000 tonnes) (b)


-

25

166

390

420

-

810

Hunter Valley Operations

80.0%








New South Wales









  Semi-soft coking coal ('000 tonnes)


579

582

659

539

481

1,393

1,020

  Thermal coal ('000 tonnes)


3,191

2,912

2,533

2,937

2,728

5,557

5,665

Kestrel Coal mine

80.0%








Queensland









  Hard coking coal ('000 tonnes)


483

760

908

781

613

885

1,393

  Thermal coal ('000 tonnes)


111

66

75

88

109

322

197

Mount Thorley Operations

64.0%








New South Wales









  Semi-soft coking coal ('000 tonnes)


569

377

477

554

570

992

1,124

  Thermal coal ('000 tonnes)


645

411

547

596

665

1,399

1,261

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










COAL (continued)









Warkworth mine

44.5%








New South Wales









  Semi-soft coking coal ('000 tonnes)


719

96

202

339

345

982

683

  Thermal coal ('000 tonnes)


1,229

2,403

1,779

1,439

1,692

2,813

3,132

Total hard coking coal production ('000 tonnes)


2,157

2,568

2,780

2,232

2,244

4,044

4,476

Total semi-soft coking coal production ('000 tonnes)


1,867

1,055

1,338

1,431

1,395

3,368

2,827

Total thermal coal production ('000 tonnes)


10,472

11,537

10,078

10,387

9,924

19,407

20,311

Total coal production ('000 tonnes)


14,496

15,161

14,196

14,050

13,563

26,819

27,613










Total coal sales ('000 tonnes)


14,056

14,481

15,027

14,014

13,569

26,315

27,583

Rio Tinto Coal Australia share (c)









Share of hard coking coal sales ('000 tonnes)


1,776

1,846

2,289

1,990

2,152

3,311

4,143

Share of semi-soft coal sales ('000 tonnes) (d)


981

806

1,048

820

803

2,096

1,623

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


5,682

5,952

5,750

5,827

5,447

10,614

11,275


(a) Rio Tinto sold its 50.1% interest in the Clermont mine with an effective date of 29 May 2014. Production is shown up to that date.
(b) Hail Creek commenced production of thermal coal from reprocessed coking coal reject following completion of a successful trial in the third quarter of 2013.
(c) Kestrel produces hard coking coal and thermal coal through its mining operations. These coals may be blended at ports.
(d) Sales relate only to coal mined by the operations and exclude traded coal.

Rio Tinto Coal Mozambique









Benga mine

65.0%








Hard coking coal production ('000 tonnes)


219

249

228

91

288

390

379

Thermal coal production ('000 tonnes)


202

188

196

82

271

370

354

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










COPPER & GOLD









Escondida

30.0%








Chile









Sulphide ore to concentrator ('000 tonnes)


19,295

18,276

19,584

21,051

21,438

38,259

42,488

  Average copper grade (%)


1.42

1.37

1.30

1.12

1.33

1.43

1.23

Mill production (metals in concentrates):









  Contained copper ('000 tonnes)


231.9

210.6

214.4

195.5

235.6

461.2

431.2

  Contained gold ('000 ounces)


24

22

24

29

27

48

55

  Contained silver ('000 ounces)


1,021

1,017

1,124

1,326

1,439

1,891

2,765

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

53.5

61.0

64.9

67.1

62.3

109.4

129.4

Refined production from leach plants:









  Copper cathode production ('000 tonnes)


79.3

73.2

77.5

75.8

81.5

154.7

157.3


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

Freeport-McMoRan Copper & Gold









Grasberg mine (a)

0.0% (b)








Papua, Indonesia









Ore treated ('000 tonnes)


10,403

18,235

18,837

10,617

14,098

28,347

24,715

Average mill head grades:









  Copper (%)


0.73

0.74

0.87

0.73

0.86

0.69

0.80

  Gold (g/t)


0.53

0.65

0.99

0.79

0.84

0.53

0.82

  Silver (g/t)


3.65

2.68

3.72

3.34

2.55

2.70

2.89

Production of metals in concentrates:









  Copper in concentrates ('000 tonnes)


65.2

119.2

148.9

67.5

108.8

168.2

176.3

  Gold in concentrates ('000 ounces)


135

306

517

215

296

353

511

  Silver in concentrates ('000 ounces)


509

1,069

1,479

558

660

1,321

1,218

Sales of payable metals in concentrates: (c)









  Copper in concentrates ('000 tonnes)


71.6

107.5

138.3

50.6

111.3

161.5

161.8

  Gold in concentrates ('000 ounces)


150

278

475

163

313

342

476

  Silver in concentrates ('000 ounces)


452

761

1,090

334

610

1,014

944


(a) Through a joint venture agreement with Freeport-McMoRan Copper & Gold (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 2Q 2014 results show the forecast from FCX's most recent five-year plan, because FCX is not releasing its actual 100% operating data for 2Q 2014 until the release of its 2014 second-quarter results on 23 July 2014.
(b) Rio Tinto share of Grasberg production is 40% of the expansion.
(c) Net of smelter deductions.

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










COPPER & GOLD (continued)









Kennecott Utah Copper









Barneys Canyon mine (a)

100.0%


             

             

             




Utah, US



             

             

             




  Gold produced ('000 ounces)


0.4

0.0

0.0

0.0

0.4

0.4

0.4

Bingham Canyon mine

100.0%








Utah, US









Ore treated ('000 tonnes)


8,192

10,593

13,088

11,916

10,480

19,925

22,396

Average ore grade:









  Copper (%)


0.54

0.62

0.56

0.65

0.65

0.50

0.65

  Gold (g/t)


0.15

0.22

0.28

0.25

0.33

0.17

0.29

  Silver (g/t)


2.18

4.16

3.12

2.62

3.26

2.32

2.92

  Molybdenum (%)


0.022

0.034

0.032

0.029

0.044

0.028

0.036

Copper concentrates produced ('000 tonnes)


170

235

257

299

225

393

524

  Average concentrate grade (% Cu)


23.0

25.2

25.1

23.1

27.5

22.2

25.0

Production of metals in copper concentrates:









  Copper ('000 tonnes) (b)


39.2

59.1

64.5

69.2

61.9

87.4

131.0

  Gold ('000 ounces)


31

56

74

63

77

77

140

  Silver ('000 ounces)


431

852

930

744

864

1,094

1,608

Molybdenum concentrates produced ('000 tonnes):


1.7

2.4

3.5

1.9

4.6

5.2

6.5

  Molybdenum in concentrates ('000 tonnes)


0.9

1.2

1.8

0.9

2.5

2.7

3.4


(a) Mining operations ceased in the first quarter of 2002. Gold continues to be recovered from leach pads.
(b) Includes a small amount of copper in precipitates.

Kennecott smelter & refinery

100.0%








Copper concentrates smelted ('000 tonnes)


123

256

266

273

309

367

581

Copper anodes produced ('000 tonnes) (a)


30.1

54.3

56.9

57.4

71.7

80.7

129.1

Production of refined metal:









  Copper ('000 tonnes)


39.2

46.3

57.7

53.1

70.1

89.5

123.2

  Gold ('000 ounces) (b)


44

40

48

62

60

104

122

  Silver ('000 ounces) (b)


457

395

633

598

818

1,130

1,417


(a) New metal excluding recycled material.
(b) Includes gold and silver in intermediate products.

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










COPPER & GOLD (continued)









Northparkes Joint Venture (a)

0.0%








New South Wales, Australia









Ore treated ('000 tonnes)


1,542

1,528

989

-

-

2,960

-

Average ore grade:









  Copper (%)


1.02

1.04

1.03

-

-

1.04

-

  Gold (g/t)


0.47

0.45

0.44

-

-

0.48

-

Copper concentrates produced ('000 tonnes)


42.8

44.2

27.1

-

-

82.4

-

Contained copper in concentrates:









   Saleable production ('000 tonnes)


14.0

14.3

9.0

-

-

27.3

-

   Sales ('000 tonnes) (b)


11.3

8.9

11.6

-

-

21.9

-

Contained gold in concentrates:









   Saleable production ('000 ounces)


17

17

10

-

-

34

-

   Sales ('000 ounces) (b)


13.4

11.0

14.1

-

-

28.3

-


(a) Rio Tinto sold its 80% interest in Northparkes with an effective date of 1 December 2013. Production is shown up to that date.
(b) Rio Tinto's 80% share of material from the Joint Venture.

Turquoise Hill Resources









Oyu Tolgoi mine (a)

33.5%








Mongolia









Ore Treated ('000 tonnes)


4,430

8,052

7,835

5,560

7,778

4,430

13,338

Average mill head grades:









  Copper (%)


0.42

0.47

0.49

0.52

0.53

0.42

0.52

  Gold (g/t)


0.27

0.36

0.41

0.49

0.60

0.27

0.55

  Silver (g/t)


1.31

1.39

1.44

1.52

1.57

1.31

1.55

Copper concentrates produced ('000 tonnes)


50.2

110.3

129.5

102.9

140.0

50.2

242.9

  Average concentrate grade (% Cu)


26.1

27.7

25.4

24.6

25.8

26.1

25.3

Production of metals in concentrates:









  Copper in concentrates ('000 tonnes)


13.1

30.6

32.9

25.3

36.2

13.1

61.5

  Gold in concentrates ('000 ounces)


21

62

74

66

113

21

179

  Silver in concentrates ('000 ounces)


85

196

208

163

229

85

391

Sales of metals in concentrates:







             


  Copper in concentrates ('000 tonnes)


-

-

6.1

13.1

51.6

-

64.7

  Gold in concentrates ('000 ounces)


-

-

10

28

126

-

154

  Silver in concentrates ('000 ounces)


-

-

36

78

309

-

387


(a) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources. Production included in the table is from 1 May 2013.

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










COPPER & GOLD (continued)









Palabora (a)

0.0%








Palabora Mine









South Africa









Ore Treated ('000 tonnes)


2,221

-

-

-

-

4,360

-

   Average ore grade: copper (%)


0.58

-

-

-

-

0.57

-

Copper concentrates produced ('000 tonnes)


47.7

-

-

-

-

83.2

-

   Average concentrate grade: copper (%)


25.3

-

-

-

-

26.7

-

   Copper in concentrates ('000 tonnes)


12.1

-

-

-

-

22.2

-

Palabora smelter/refinery









New concentrate smelted on site ('000 tonnes)


57.1

-

-

-

-

111.3

-

New copper anodes produced ('000 tonnes)


13.2

-

-

-

-

27.3

-

Refined new copper produced ('000 tonnes)


12.9

-

-

-

-

25.8

-

Gold in Anode Slimes ('000 tonnes)


2.6

-

-

-

-

5.5

-

By-products:









  Magnetite concentrate ('000 tonnes)


1,482

-

-

-

-

2,628

-

  Nickel contained in products (tonnes)


11

-

-

-

-

17

-

Vermiculite plant









  Vermiculite produced ('000 tonnes)


41

-

-

-

-

73

-


(a) The sale of Rio Tinto's 57.7% interest in Palabora Mining Company was completed on 31 July 2013; production data have been reported up to 30 June 2013.










DIAMONDS









Argyle Diamonds (a)

100.0%








Western Australia









  AK1 ore processed ('000 tonnes)


1,929

2,088

1,728

724

712

3,462

1,435

  AK1 diamonds produced ('000 carats)


3,130

3,085

3,153

2,461

2,459

5,120

4,920


(a) Rio Tinto officially opened the Argyle underground mine on 30 April 2013.

Diavik Diamonds

60.0%








Northwest Territories, Canada









  Ore processed ('000 tonnes)


526

548

539

587

617

1,029

1,204

  Diamonds recovered ('000 carats)


1,559

1,672

2,066

1,865

2,150

3,505

4,015

Murowa Diamonds

77.8%








Zimbabwe









  Ore processed ('000 tonnes)


122

145

144

142

135

275

277

  Diamonds recovered ('000 carats)


88

90

135

89

107

189

196

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.



 

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










IRON ORE









Rio Tinto Iron Ore









Western Australia









Pilbara Operations









Saleable iron ore production ('000 tonnes)









  Hamersley - Paraburdoo, Mt Tom Price, Marandoo,









  Yandicoogina, Brockman and Nammuldi

100.0%

32,945

33,707

35,868

33,898

37,018

63,720

70,916

  Hamersley - Channar

60.0%

2,904

2,546

2,692

2,737

2,736

5,809

5,473

  Hamersley - Eastern Range

   (a)

2,460

2,571

2,513

2,447

2,725

4,968

5,172

  Hope Downs

50.0%

7,932

9,007

9,112

9,559

10,187

15,669

19,746

  Robe River - Pannawonica (Mesas J and A)

53.0%

8,352

8,912

8,661

8,168

8,546

15,735

16,714

  Robe River - West Angelas

53.0%

7,451

7,528

7,635

6,564

7,845

13,930

14,409

Total production ('000 tonnes)


62,044

64,271

66,481

63,373

69,057

119,831

132,430

Breakdown of total production:









  Pilbara Blend Lump


16,641

16,845

17,374

17,031

18,688

31,740

35,719

  Pilbara Blend Fines


23,780

24,719

25,993

24,795

28,397

46,934

53,192

  Robe Valley Lump


2,616

3,129

3,076

2,666

2,863

4,979

5,529

  Robe Valley Fines


5,735

5,783

5,585

5,502

5,683

10,756

11,185

  Yandicoogina Fines (HIY)


13,272

13,795

14,453

13,379

13,426

25,422

26,805

Breakdown of total sales:









  Pilbara Blend Lump


13,356

14,408

15,628

14,969

16,247

25,828

31,216

  Pilbara Blend Fines


23,437

26,177

28,999

27,822

32,870

46,190

60,692

  Robe Valley Lump


1,982

2,794

3,096

2,265

2,763

4,001

5,028

  Robe Valley Fines


5,637

6,298

6,592

5,431

6,247

10,282

11,678

  Yandicoogina Fines (HIY)


12,056

14,576

14,504

13,732

13,713

24,889

27,445

Total sales ('000 tonnes) (b)


56,468

64,253

68,819

64,219

71,840

111,190

136,059

(a) 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) 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)


1,849

1,785

1,801

1,071

1,924

3,206

2,994

  Pellets ('000 tonnes)


2,138

2,222

2,152

1,934

2,104

4,202

4,038

Sales:









  Concentrates ('000 tonnes)


2,245

1,481

1,530

633

1,904

3,184

2,537

  Pellets ('000 tonnes)


2,582

2,289

2,064

1,876

1,931

4,230

3,807

Global Iron Ore Totals









Iron Ore Production ('000 tonnes)


66,030

68,278

70,434

66,378

73,084

127,239

139,462

Iron Ore Sales ('000 tonnes)


61,294

68,023

72,414

66,728

75,674

118,604

142,403

Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.

Rio Tinto operational data






Rio Tinto
interest

2Q
2013

3Q
2013

4Q
2013

1Q
2014

2Q
2014

1H
2013

1H
2014










SALT









Dampier Salt

68.4%








Western Australia









  Salt production ('000 tonnes)


2,444

2,320

2,759

2,320

2,616

4,762

4,936










TITANIUM DIOXIDE FEEDSTOCK









Rio Tinto Iron & Titanium

100.0%








Canada and South Africa









  (Rio Tinto share) (a)









  Titanium dioxide feedstock ('000 tonnes)


461

373

361

389

372

888

762


(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)


2,095

1,345

1,108

0

0

4,072

0


(a) ERA production has been restated from 'produced ready for packing' to 'drummed' U3O8, in line with production reported by Energy Resources of Australia Ltd to the Australian Stock Exchange (ASX).

Rössing Uranium Ltd

68.6%








Namibia









  U3O8 Production ('000 lbs)


1,423

1,383

1,072

939

664

2,857

1,603










Rio Tinto percentage interest shown above is at 30 June 2014. The data represent full production and sales on a 100% basis unless otherwise stated.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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