REG - Rio Tinto - 3rd Quarter Results 2014 <Origin Href="QuoteRef">RIO.L</Origin> - Part 3
29/10/2014 12:02
- Part 3: For the preceding part double click ID:nRSO3228Ub
Copper in concentrates ('000 tonnes) 107.5 138.3 50.6 54.3 108.8 269.0 213.7
Gold in concentrates ('000 ounces) 278 475 163 136 431 620 729
Silver in concentrates ('000 ounces) 761 1,090 334 367 599 1,775 1,299
(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 3Q 2014 results show the forecast from FCX's most recent five-year plan, because FCX is not releasing its actual 100% operating data for 3Q 2014 until the release of its 2014 third-quarter results on 28 October 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 September 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
interest 2013 2013 2014 2014 2014 2013 2014
COPPER & GOLD (continued)
Kennecott Utah Copper
Barneys Canyon mine (a) 100.0%
Utah, US
Gold produced ('000 ounces) 0.0 0.0 0.0 0.4 0.0 0.4 0.4
Bingham Canyon mine 100.0%
Utah, US
Ore treated ('000 tonnes) 10,593 13,088 11,916 10,480 12,184 30,518 34,579
Average ore grade:
Copper (%) 0.62 0.56 0.65 0.65 0.49 0.54 0.59
Gold (g/t) 0.22 0.28 0.25 0.33 0.33 0.19 0.30
Silver (g/t) 4.16 3.12 2.62 3.26 3.01 2.96 2.95
Molybdenum (%) 0.034 0.032 0.029 0.044 0.069 0.030 0.048
Copper concentrates produced ('000 tonnes) 235 257 299 225 193 627 717
Average concentrate grade (% Cu) 25.2 25.1 23.1 27.5 27.2 23.3 25.6
Production of metals in copper concentrates:
Copper ('000 tonnes) (b) 59.1 64.5 69.2 61.9 52.8 146.5 183.8
Gold ('000 ounces) 56 74 63 77 87 133 227
Silver ('000 ounces) 852 930 744 864 970 1,947 2,578
Molybdenum concentrates produced ('000 tonnes): 2.4 3.5 1.9 4.6 10.5 7.6 17.0
Molybdenum in concentrates ('000 tonnes) 1.2 1.8 0.9 2.5 5.6 3.9 8.9
(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) 256 266 273 309 205 624 787
Copper anodes produced ('000 tonnes) (a) 54.3 56.9 57.4 71.7 50.2 135.1 179.3
Production of refined metal:
Copper ('000 tonnes) 46.3 57.7 53.1 70.1 62.7 135.9 185.9
Gold ('000 ounces) (b) 40.3 47.8 62.0 59.8 79.3 144.5 201.1
Silver ('000 ounces) (b) 395 633 598 818 759 1,525 2,175
(a) New metal excluding recycled material.
(b) Includes gold and silver in intermediate products.
Rio Tinto percentage interest shown above is at 30 September 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
interest 2013 2013 2014 2014 2014 2013 2014
COPPER & GOLD (continued)
Northparkes Joint Venture (a) 0.0%
New South Wales, Australia
Ore treated ('000 tonnes) 1,528 989 - - - 4,488 -
Average ore grade:
Copper (%) 1.04 1.03 - - - 1.04 -
Gold (g/t) 0.45 0.44 - - - 0.47 -
Copper concentrates produced ('000 tonnes) 44.2 27.1 - - - 126.6 -
Contained copper in concentrates:
Saleable production ('000 tonnes) 14.3 9.0 - - - 41.6 -
Sales ('000 tonnes) (b) 8.9 11.6 - - - 30.8 -
Contained gold in concentrates:
Saleable production ('000 ounces) 17 10 - - - 52 -
Sales ('000 ounces) (b) 11.0 14.1 - - - 39.3 -
(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) 8,052 7,835 5,560 7,778 7,029 12,482 20,367
Average mill head grades:
Copper (%) 0.47 0.49 0.52 0.53 0.59 0.45 0.55
Gold (g/t) 0.36 0.41 0.49 0.60 0.80 0.33 0.64
Silver (g/t) 1.39 1.44 1.52 1.57 1.64 1.36 1.58
Copper concentrates produced ('000 tonnes) 110.3 129.5 102.9 140.0 134.1 160.5 377.0
Average concentrate grade (% Cu) 27.7 25.4 24.6 25.8 27.3 27.2 26.0
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 30.6 32.9 25.3 36.2 36.6 43.7 98.2
Gold in concentrates ('000 ounces) 62.4 73.7 65.6 113.0 132.0 83.4 310.6
Silver in concentrates ('000 ounces) 196 208 163 229 216 281 608
Sales of metals in concentrates:
Copper in concentrates ('000 tonnes) - 6.1 13.1 51.6 53.6 - 118.3
Gold in concentrates ('000 ounces) - 10 28 126 144 - 298
Silver in concentrates ('000 ounces) - 36 78 309 323 - 710
(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 September 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
interest 2013 2013 2014 2014 2014 2013 2014
COPPER & GOLD (continued)
Palabora (a) 0.0%
Palabora Mine
South Africa
Ore Treated ('000 tonnes) - - - - - 4,360 -
Average ore grade: copper (%) - - - - - - -
Copper concentrates produced ('000 tonnes) - - - - - 83.2 -
Average concentrate grade: copper (%) - - - - - 26.7 -
Copper in concentrates ('000 tonnes) - - - - - 22.2 -
Palabora smelter/refinery
New concentrate smelted on site ('000 tonnes) - - - - - 111.3 -
New copper anodes produced ('000 tonnes) - - - - - 27.3 -
Refined new copper produced ('000 tonnes) - - - - - 25.8 -
Gold in Anode Slimes ('000 tonnes) - - - - - 5.5 -
By-products:
Magnetite concentrate ('000 tonnes) - - - - - 2,628 -
Nickel contained in products (tonnes) - - - - - 17 -
Vermiculite plant
Vermiculite produced ('000 tonnes) - - - - - 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) 2,088 1,728 724 712 876 5,550 2,311
AK1 diamonds produced ('000 carats) 3,085 3,153 2,461 2,459 2,455 8,205 7,375
(a) Rio Tinto officially opened the Argyle underground mine on 30 April 2013.
Diavik Diamonds 60.0%
Northwest Territories, Canada
Ore processed ('000 tonnes) 548 539 587 617 560 1,577 1,765
Diamonds recovered ('000 carats) 1,672 2,066 1,865 2,150 1,673 5,176 5,688
Murowa Diamonds 77.8%
Zimbabwe
Ore processed ('000 tonnes) 145 144 142 135 153 420 430
Diamonds recovered ('000 carats) 90 135 89 107 116 279 312
Rio Tinto percentage interest shown above is at 30 September 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
interest 2013 2013 2014 2014 2014 2013 2014
IRON ORE
Rio Tinto Iron Ore
Western Australia
Pilbara Operations
Saleable iron ore production ('000 tonnes)
Hamersley mines (a) 36,278 38,381 36,345 39,743 41,837 104,966 117,925
Hamersley - Channar 60.0% 2,546 2,692 2,737 2,736 2,938 8,355 8,411
Hope Downs 50.0% 9,007 9,112 9,559 10,187 11,292 24,676 31,038
Robe River - Pannawonica (Mesas J and A) 53.0% 8,912 8,661 8,168 8,546 9,144 24,647 25,858
Robe River - West Angelas 53.0% 7,528 7,635 6,564 7,845 7,657 21,458 22,066
Total production ('000 tonnes) 64,271 66,481 63,373 69,057 72,868 184,102 205,298
Breakdown of total production:
Pilbara Blend Lump 16,845 17,374 17,031 18,688 19,416 48,585 55,135
Pilbara Blend Fines 24,719 25,993 24,795 28,397 30,711 71,653 83,903
Robe Valley Lump 3,129 3,076 2,666 2,863 3,051 8,108 8,580
Robe Valley Fines 5,783 5,585 5,502 5,683 6,093 16,539 17,278
Yandicoogina Fines (HIY) 13,795 14,453 13,379 13,426 13,597 39,217 40,402
Breakdown of total sales:
Pilbara Blend Lump 14,408 15,628 14,969 16,247 17,378 40,236 48,594
Pilbara Blend Fines 26,177 28,999 27,822 32,870 33,379 72,367 94,071
Robe Valley Lump 2,794 3,096 2,265 2,763 2,652 6,795 7,680
Robe Valley Fines 6,298 6,592 5,431 6,247 6,125 16,580 17,803
Yandicoogina Fines (HIY) 14,576 14,504 13,732 13,713 14,197 39,465 41,642
Total sales ('000 tonnes) (b) 64,253 68,819 64,219 71,840 73,731 175,443 209,790
(a) Includes 100% of production from Paraburdoo, Mt Tom Price, Marandoo, Yandicoogina, Brockman, Nammuldi 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) 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) 1,785 1,801 1,071 1,924 1,593 4,991 4,588
Pellets ('000 tonnes) 2,222 2,152 1,934 2,104 2,322 6,424 6,360
Sales:
Concentrates ('000 tonnes) 1,481 1,530 633 1,904 2,288 4,665 4,825
Pellets ('000 tonnes) 2,289 2,064 1,876 1,931 1,996 6,519 5,802
Global Iron Ore Totals
Iron Ore Production ('000 tonnes) 68,278 70,434 66,378 73,084 76,784 195,517 216,246
Iron Ore Sales ('000 tonnes) 68,023 72,414 66,728 75,674 78,014 186,627 220,417
Rio Tinto percentage interest shown above is at 30 September 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 3Q 4Q 1Q 2Q 3Q 9 MTHS 9 MTHS
interest 2013 2013 2014 2014 2014 2013 2014
SALT
Dampier Salt 68.4%
Western Australia
Salt production ('000 tonnes) 2,320 2,759 2,320 2,616 2,293 7,082 7,229
TITANIUM DIOXIDE FEEDSTOCK
Rio Tinto Iron & Titanium 100.0%
Canada and South Africa
(Rio Tinto share) (a)
Titanium dioxide feedstock ('000 tonnes) 373 361 389 372 365 1,261 1,127
(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) 1,345 1,108 0 0 1,247 5,416 1,247
(a) ERA production reported is 'drummed' U3O8.
Rössing Uranium Ltd 68.6%
Namibia
U3O8 Production ('000 lbs) 1,383 1,072 939 664 896 4,239 2,500
Rio Tinto percentage interest shown above is at 30 September 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
This information is provided by RNS
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