REG - Rio Tinto - Fourth quarter production results
18/01/2022 07:05
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220118:nRSR7433Ya&default-theme=true
RNS Number : 7433Y Rio Tinto PLC 18 January 2022
Rio Tinto releases fourth quarter production results
18 January 2022
Rio Tinto Chief Executive Jakob Stausholm, said: "In 2021 we continued to
experience strong demand for our products while operating conditions remained
challenging, including due to prolonged COVID-19 disruptions. Despite this, we
progressed a number of our projects, including the Pilbara replacement mines,
underlining the resilience of the business and the commitment and flexibility
of our people, communities and host governments. We are seeing some initial
positive results from the implementation of the Rio Tinto Safe Production
System, which we will significantly ramp up in 2022, as we continue to work
hard to improve our operational performance to become the best operator.
"In the fourth quarter we set a new direction for the company and announced a
number of partnerships focused on decarbonising the value chain for our
products, including green steel. We also entered into a binding agreement to
acquire the Rincon lithium project in Argentina, which is strongly aligned
with our strategy. These actions will ensure we continue to deliver attractive
returns to shareholders, invest in sustaining and growing our portfolio, and
progress our ambition to net-zero carbon emissions."
Production* Q4 vs Q4 vs Q3 Full Year vs Full Year
2020
2021
2020
2021 2021
Pilbara iron ore shipments (100% basis) Mt 84.1 -5% +1% 321.6 -3%
Pilbara iron ore production (100% basis) Mt 84.1 -2% +1% 319.7 -4%
Bauxite Mt 13.1 -2% -6% 54.3 -3%
Aluminium kt 757 -7% -2% 3,151 -1%
Mined copper kt 132 0% +6% 494 -7%
Titanium dioxide slag kt 228 -16% +9% 1,014 -9 %
IOC iron ore pellets and concentrate Mt 2.5 -9% +15% 9.7 -6%
*Rio Tinto share unless otherwise stated
2021 operational highlights and other key announcements
• The safety and well-being of our employees and contractors remains
our priority. Fatigue, labour shortages and other pressures from COVID-19 have
heightened the safety risk in day-to-day operations and remind us that there
is no room for complacency. We experienced our third consecutive year with no
fatalities at our managed operations. We are working hard with our partners to
achieve the same results at our non-managed assets and marine operations.
• Pilbara iron ore production of 319.7 million tonnes (100% basis)
was 4% lower than 2020. This is due to above average rainfall in the first
half of the year, cultural heritage management and delays in growth and
brownfield mine replacement tie-in projects. Pilbara shipments in 2021 were
321.6 million tonnes (100% basis), 3% lower than 2020, and included elevated
levels of SP10 product as a result of delays in growth and brownfield mine
replacement tie-in projects.
• Bauxite production of 54.3 million tonnes was 3% lower than 2020
due to severe wet weather in the first quarter impacting system stability
throughout the year, equipment reliability issues and overruns on planned
shutdowns at our Pacific operations.
• Aluminium production of 3.2 million tonnes was 1% lower than 2020
due to reduced capacity at our Kitimat smelter in British Columbia following
the strike which commenced in July 2021. The labour union and employees have
reached an agreement with controlled restart in 2022.
• Mined copper production of 494 thousand tonnes was 7% lower than
2020 due to lower recoveries and throughput at Escondida as a result of the
prolonged impact of COVID-19, partly offset by higher recoveries and grades at
Oyu Tolgoi in Mongolia and Kennecott in the US.
• Titanium dioxide slag production of 1,014 thousand tonnes was 9%
lower than 2020 as a result of community disruptions and subsequent
curtailment of operations at Richards Bay Minerals (RBM) coupled with
unplanned maintenance and equipment reliability issues at Rio Tinto Fer et
Titane (RTFT) in Canada. On 24 August, RBM resumed operations following
stabilisation of the security situation, supported by the national and
provincial government, as well as substantive engagement with host communities
and their traditional authorities.
• Production of pellets and concentrate at Iron Ore Company of
Canada (IOC) was 6% lower than 2020 due to prolonged labour and equipment
availability issues impacting product feed and various other operational
challenges throughout the year.
• At the Jadar lithium-borate project in Serbia, as a result of
delays in the approval of the Exploitation Field Licence (EFL), which is a
prerequisite to publish the Environmental Impact Assessment (EIA) and commence
the consultation process, we are revising development timelines. Based on
current estimates and subject to receiving all relevant approvals, permits and
licences, first saleable production is expected to be no earlier than 2027
(previously 2026).
• In the fourth quarter, we entered into several partnerships to
accelerate decarbonising our own business and the value chains we operate in.
In November, we announced the ELYSIS joint venture successfully produced
aluminium without any direct greenhouse gas emissions from commercial-size
cells.
• On 20 October, we outlined
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-to-strengthen-performance-decarbonise-and-grow)
the actions being taken to strengthen the business and improve performance. We
unveiled a longer-term strategy to ensure we thrive in a decarbonising world
and continue to deliver attractive shareholder returns, in line with our
policy.
• This year, we initiated the Rio Tinto Safe Production System
(RTSPS) at five pilot sites, focusing on sustainably unlocking capacity across
the system. We are already seeing returns in the first year of rollout
including a significant improvement at the Kennecott concentrator since the
July deployment compared to the previous 12 months performance. A
significantly larger programme is planned for 2022, subject to COVID-19
constraints, with the RTSPS rollout of up to 30 deployments at 15 sites as
well as up to 80 rapid improvement projects which aim at improving targeted
bottlenecks.
• On 28 October, we issued
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-Finance-USA-Limited-prices-US1,-d-,25-billion-of-30-year-fixed-rate-notes)
$1.25 billion 30-year fixed rate SEC-registered bonds priced at 2.75%. The
proceeds of the new issuance were used to fund the early redemption and
extinguishment of the company's $1.20 billion 3.75% bonds due to mature in
June 2025.
• On 19 December, we announced
(https://www.riotinto.com/news/releases/2021/Dominic-Barton-to-succeed-Simon-Thompson-as-Chair)
the Board of Directors had selected Dominic Barton to succeed Simon Thompson
as the new Chair. Dominic will join the Board with effect from 4 April 2022
and be appointed to the role of Chair at the conclusion of the Rio Tinto
Limited annual general meeting on 5 May 2022.
• On 21 December, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-to-acquire-Rincon-Mining-lithium-project)
we had entered into a binding agreement to acquire the Rincon lithium project
in Argentina from Rincon Mining for $825 million. Rincon is one of the largest
undeveloped lithium brine projects in the world, located in the heart of the
lithium triangle in Salta Province.
• Our guidance assumes development of the pandemic does not lead to
government-imposed restrictions and widespread protracted cases related to new
highly contagious variants with high severity, which could result in a
significant number of our production critical workforce and contractor base
being unable to work due to illness and/or isolation requirements. This risk
extends to prolonged interruption of service from a key partner or supplier
which could lead to severely constrained operational activity of a key asset
or project. This risk is exacerbated globally by tight labour markets and
supply chain delays.
• 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.
2022 production guidance
Rio Tinto share, unless otherwise stated 2021 Actuals 2022
Pilbara iron ore(1) (shipments, 100% basis) (Mt) 322 320 to 335
Bauxite (Mt) 54 54 to 57
Alumina (Mt) 7.9 8.0 to 8.4
Aluminium (Mt) 3.2 3.1 to 3.2
Mined copper (kt) 494 500 to 575
Refined copper (kt) 202 230 to 290
Diamonds(2) (M carats) 3.8 5.0 to 6.0
Titanium dioxide slag (Mt) 1.0 1.1 to 1.4
IOC(3) iron ore pellets and concentrate (Mt) 9.7 10.0 to 11.0
Boric oxide equivalent (Mt) 0.5 ~0.5
(1)Pilbara shipments guidance remains subject to risks around commissioning
and ramp-up of new mines and management of cultural heritage.
(2)Reflects 100% ownership of Diavik (previously 60%) from 1st November 2021.
(3)Iron Ore Company of Canada.
• Iron ore shipments and bauxite production guidance remain subject
to weather and market conditions.
• Our guidance assumes development of the pandemic does not lead to
government-imposed restrictions and widespread protracted cases related to new
highly contagious variants with high severity, which could result in a
significant number of our production critical workforce and contractor base
being unable to work due to illness and/or isolation requirements. This risk
extends to prolonged interruption of service from a key partner or supplier
which could lead to severely constrained operational activity of a key asset
or project. This risk is exacerbated globally by tight labour markets and
supply chain delays.
• Pilbara shipments guidance remains subject to commissioning and
ramp-up of new mines and management of cultural heritage, including any
impacts from the recent changes to the Aboriginal Heritage Act 1972 (WA). We
support the strengthening of Aboriginal heritage protection in Western
Australia and continue to engage with Traditional Owners regarding current and
proposed plans for mining activities, adjusting mine plans where required.
Given the quality of our resource, we retain a range of development options in
the Pilbara, subject to heritage and environmental approvals.
Investments, growth and development projects
• We continue to proactively manage COVID-19 and prioritise work
across critical projects, as challenges associated with interstate and
international border access continue, impacting the availability and movement
of people and goods, most notably in Australia and Mongolia. Mitigation plans
are in place however there are some delays with the delivery of equipment to
sites and access to key personnel.
• Exploration and evaluation expense in 2021 was $726 million, $101
million (16%) higher than 2020, with ramp-up of activities in Australia,
Europe and Western Africa.
Pilbara mine projects
• Commissioning and ramp-up of Pilbara growth and brownfield mine
replacement projects has been impacted by ongoing COVID-19 restrictions,
including labour access and supply chain quality issues. The latter has been
exacerbated by an inability to conduct pre-delivery quality assurance and
control at international steel and equipment manufacturers due to limitations
on travel.
• Mining and operational readiness activities are progressing at the
Gudai-Darri mine and the railway is operational. The first train was loaded
from the mobile crushing and screening facilities in December. First
production from the main plant is now expected in the second quarter of 2022,
subject to the continuing impacts of COVID-19.
• The Western Turner Syncline Phase 2 project achieved first ore in
October, in line with previous guidance. At Robe Valley, the autonomous mining
truck fleet has been commissioned. Since achieving first ore in August,
ongoing wet plant construction and commissioning challenges are impacting
production ramp-up.
Oyu Tolgoi underground project(1)
Technical progress
• The project is technically and operationally ready for undercut
commencement, despite continued COVID-19 constraints in Mongolia. Site
accommodation and staffing levels improved in the quarter to between 60% and
70% of planned requirements. The impact on project costs of the additional
restrictions related to COVID-19 to the end of December 2021 is estimated to
be $175 million. The project has achieved the conveyor to surface decline
breakthrough and completed construction of Materials Handling System 1 with
commissioning expected to be completed in the coming weeks.
• Shaft 4 sinking activities recommenced in October, with
advancement now at 148 metres below ground level. Shaft 3 readiness works
continue, with sinking commencement expected by the end of the first quarter
of 2022, despite some disruptions following an unplanned failure on one of the
sinking brake systems. The delay to the commissioning of shafts 3 and 4 is
still expected to be approximately nine months per prior guidance based on
known COVID-19 impacts to date. Panel 1 and 2 studies will be ongoing
throughout 2022.
Other updates
• Negotiations with the Government of Mongolia are constructive and
making positive progress. All key stakeholders have stated that they remain
committed to moving the project forward and reaching a long-term solution to
the items under discussion.
• In December, the updated Resources and Reserves were registered in
Mongolia in accordance with Mongolian regulations and approval from Mongolian
authorities of the 2022 Annual Mine Plan was received. The updated Feasibility
Study (OTFS20) has been submitted to the relevant governmental agencies of
Mongolia.
• As a result of COVID-19 impacts and outstanding non-technical
undercut criteria, first sustainable production will be no earlier than
January 2023, subject to the timing of commencement of the undercut. The full
impact on the cost of the integrated project is subject to further analysis
once we have clarity on the timeline around the completion of the undercut
criteria and ongoing COVID-19 restrictions.
• Other milestones that need to be met in order to ensure that the
project can commence caving operations (undercut) include: approval of the
project investment uplift to $6.75 billion, approval of the funding plan and
extension of the current power supply arrangements until an agreed long term
stable and reliable power solution can be fully implemented.
Other key projects and exploration and evaluation
• The Zulti South project in South Africa remains on full
suspension.
• At the Kemano hydropower tunnel project in British Columbia,
Canada, the tunnel boring machine is being dismantled and removed following
breakthrough in October. Although COVID-19 continues to affect the workforce,
project completion remains on schedule for the second half of 2022.
• At the Resolution Copper project in Arizona, we continue to work
with the US Forest Service to secure approval of the Final Environmental
Impact Statement (EIS). In parallel, mine studies and engagement with the
Native American tribes and local communities continue to progress.
• At the Winu project in Western Australia, there has been progress
towards securing consent from the Traditional Owners to the Project Agreement
in advance of submitting the necessary environmental and regulatory approvals.
Drilling, fieldwork and study activities continue to progress to schedule.
• At the Simandou iron ore project in Guinea, we continue to engage
with key stakeholders in-country including the Government of Guinea. We remain
committed to an inclusive partnership, seeking mutual and sustainable benefits
by developing our project in line with international social and environmental
standards. A new drilling programme has commenced, and expressions of interest
are being sourced for construction and early development works expected to be
carried out in 2022.
• At the Jadar lithium-borate project in Serbia, as a result of
delays in the approval of the Exploitation Field Licence (EFL), which is a
prerequisite to publish the Environmental Impact Assessment (EIA) and commence
the consultation process, we are revising development timelines. Based on
current estimates and subject to receiving all relevant approvals, permits and
licences, first saleable production is expected to be no earlier than 2027
(previously 2026). The Feasibility Study and the EIA Studies are progressing.
We fully understand the concerns amongst some Serbian stakeholders about
environmental impacts and we will continue to engage to demonstrate the
project has developed mitigation solutions in the project plan.
• Energy Resources of Australia (ERA) has previously indicated to
the market that it has identified cost and schedule overruns in executing the
mine closure plan that is expected to be significant relative to the findings
of the Ranger Project Area closure feasibility study.
(1)Project baseline reporting has been updated following endorsement of the
definitive estimate by Rio Tinto Board and Turquoise Hill Resources (pending
Oyu Tolgoi board approval).
The definitive estimate assumed COVID-19 restrictions in 2021 that were no
more stringent than those experienced in September 2020 and noted that should
COVID-19 constraints continue beyond 2021 or should the COVID-19 situation
escalate further in 2021 leading to tougher restrictions, additional costs and
schedule impacts would arise. Since the definitive estimate, at the end of
2020, Mongolia implemented additional restrictions in response to community
transmission cases, and in March 2021 the first cases of COVID-19 were
identified at Oyu Tolgoi resulting in temporary site shutdown, quarantine
measures and further travel and movement restrictions. The impact of these
additional restrictions, which have continued throughout this period and are
beyond those experienced in September 2020, is ongoing. To date, the impact on
projects costs of the additional restrictions experienced to the end of
December 2021 is estimated to be $175 million. Additional costs and schedule
impacts continue to be incurred and the final impact is still to be
determined.
Sustainability highlights
We continue to advance our sustainability agenda. We are now a member of T
(https://www.spglobal.com/spdji/en/indices/esg/dow-jones-sustainability-world-index/#overview)
he Dow Jones Sustainability™ World Index
(https://www.spglobal.com/spdji/en/indices/esg/dow-jones-sustainability-world-index/#overview)
, which comprises global sustainability leaders as identified by S&P
Global, representing the top 10% of the largest 2,500 companies in the S&P
Global Broad Market Index based on ESG dimensions.
On 9 November, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-invests-in-start-up-to-support-habitat-restoration-final)
a partnership with RESOLVE, a Washington-based non profit organisation, to
launch Regeneration, a start-up that will use the re-mining and processing of
waste from legacy mine sites to support rehabilitation activities and restore
natural environments. We will make an equity investment of $2 million and
analyse our portfolio to identify potential opportunities for the first
Regeneration project.
On 23 October, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-BHP-and-Fortescue-Collaborate-on-New-Learning-Programs-to-Create-Safer-Workplaces)
a partnership with BHP and Fortescue Metals Group to fund innovative,
industry-first learning programmes as part of a continued commitment towards
mining sector workplaces that are free from sexual harassment, bullying and
racism. The partnership will fund and contribute to the design, development
and implementation of new social awareness education packages for deployment
through a range of education providers such as Technical and further education
(TAFE), Registered Training Organisations, universities and high schools.
On 19 December, we called for
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-puts-call-out-to-WA-manufacturers-to-build-iron-ore-rail-cars)
Expressions of Interest from Western Australian manufacturers to build 100
rail cars for our Pilbara operations. We will initially purchase 50 rail cars
from the successful supplier, followed by an ongoing commitment of 10 rail
cars a year for the next five years. This will help grow the local rail car
manufacturing industry and support local jobs.
Communities & Social Performance (CSP)
At the end of 2021 the relationship between Puutu Kunti Kurrama and Pinikura
(PKKP) leadership and Rio Tinto Iron Ore is constructive and considered. The
ongoing rehabilitation works at Juukan Gorge are on schedule and have the
active involvement of the appointed Puutu Kunti Kurrama (PKK) committee
members. An agreement on a co-management of country approach and an
appropriate remedy for the destruction of Juukan Gorge is substantially
progressed. Together we are charting new territory, and this takes time, but
we are moving forward on a model which is respectful and looks to provide
certainty of protection for cultural heritage and mining.
On 17 October, we welcomed
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-Statement-on-Joint-Standing-Committee-on-Northern-Australia-Report)
the Joint Standing Committee on Northern Australia's final report into the
destruction of the rock shelters at Juukan Gorge. We continue to work closely
with Traditional Owners to build trusted relationships and better understand
and protect their cultural heritage.
On 17 October, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-announces-12-million-dollar-Telethon-partnership)
a new three-year partnership with Telethon aimed at improving the health and
well-being of children in Western Australia. The partnership, which follows $4
million contribution in 2020, will provide $4 million contribution each year
to 2023, to support research into mental health and juvenile diabetes.
At Resolution Copper in Arizona, we partnered with Stantec and White Mountain
Apache community members to provide 64 hydro panels on the Fort Apache
Reservation, and we are planning installation programs in other Native
American communities. The panels will provide a new source of clean drinking
water through an innovative, renewable technology that uses solar energy.
Key highlights in Australia from the quarter are outlined below, with further
information available on our website
(https://www.riotinto.com/sustainability/communities) .
Agreement modernisation
Discussions with Pilbara Traditional Owners to modernise existing agreements
continued in the fourth quarter. Heads of Agreements (HoA), or similar, are
being drafted with two Traditional Owner Groups. The HoA include principles
and approaches to co-management of country over the life of mine cycle and
partnership arrangements to broaden benefits arising from mining. Engagement
protocols to guide the modernisation discussions have been executed or
endorsed with five Traditional Owner Groups.
Cultural heritage management
Pilbara Iron Ore continues to apply the Integrated Heritage Management Process
(IHMP). Known sites of cultural significance continue to be re-assessed and
mine plans adjusted or measures taken to avoid disturbance. This includes
increased buffer zones and blast management plans to reduce vibration risk. To
date, we have reviewed 2,205 heritage sites across different planning
horizons. Lessons learned and best practice are shared and replicated, as
appropriate, across Rio Tinto.
Australian Advisory Group (AAG)
Work to develop the AAG is progressing with the terms of reference finalised.
The AAG is on track to commence in the first quarter of 2022 and will be
comprised of a minimum of 60% Aboriginal or Torres Strait Islander membership,
with an Indigenous Australian Chairperson.
Aboriginal Heritage Act 1972 (WA)
We support the strengthening of Aboriginal heritage protection in Western
Australia. We continue to collaborate with Traditional Owners, incorporating
heritage and social surroundings information into mine designs, new
developments and our IHMP systems.
Climate change and our value chain
We progressed initiatives in the fourth quarter in line with our pathway to
decarbonise our business and actively develop technologies that will enable
our customers and our customers' customers to decarbonise.
• On 26 October, we announ
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-and-Carbfix-partner-for-carbon-capture-and-storage)
ced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-and-Carbfix-partner-for-carbon-capture-and-storage)
a partnership with Carbfix to implement a technology for capturing carbon and
permanently storing it underground at our ISAL aluminium smelter in Iceland.
Under a Memorandum of Understanding (MoU), Carbfix will use Rio Tinto's land
surrounding the ISAL smelter for onshore CO(2) injection in the world's first
carbon mineral storage hub, the Coda Terminal. Liquified CO(2) will be
imported by ship from industrial sites across North Europe for storage. The
partnership follows an investment earlier in October in Carbon Capture Inc., a
climate tech start-up that focuses on developing modular Direct Air Capture
units powered by renewable energy and with the potential to remove significant
amounts of CO(2) from the atmosphere for permanent underground storage.
• On 27 October, we announced
(https://www.riotinto.com/news/releases/2021/USGS-and-Rio-Tinto-Partner-to-Survey-for-Critical-Minerals-in-Southwest-Montana)
a partnership with the U.S. Geological Survey (USGS), the science agency for
the US Department of the Interior, to provide a clearer picture of the
potential for critical mineral resources beneath the Continental Divide near
Montana's Boulder Batholith. The USGS will fly airborne geophysical surveys in
areas of interest with support from Rio Tinto during 2022 as part of its Earth
Mapping Resources Initiative.
• On 28 October, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-and-BlueScope-to-explore-low-carbon-steelmaking-pathways)
the signing of a MoU with BlueScope to research and design low-emissions
processes for the steel value chain, including iron ore processing, iron and
steelmaking and related technologies. The companies will work together to
explore low-carbon steelmaking pathways using Pilbara iron ores, including the
use of clean hydrogen to replace coking coal at BlueScope's Port Kembla
Steelworks.
• On 4 November, we announced
(https://www.riotinto.com/news/releases/2021/Carbon-free-aluminium-smelting-a-step-closer-ELYSIS-advances-commercial-demonstration-and-operates-at-industrial-scale)
ELYSIS successfully produced aluminium without any direct greenhouse emissions
at its Industrial Research and Development Center in Saguenay, Canada. Work is
now focused on accelerating the scale-up of the ELYSIS technology towards the
demonstration of even larger commercial-size cells in 2023.
• On 16 November, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-invests-in-InoBat) an
investment in Inobat Auto, a European-based battery technology and
manufacturing company. This investment will support the completion of InoBat's
research and development centre and pilot battery line in Voderady, Slovakia.
The investment follows a MoU signed in May, outlining an intention to work
together to progress the establishment of a "cradle-to-cradle" electric
vehicle battery value chain in Serbia.
• On 10 December, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-QMM-Launches-the-Construction-of-Its-Renewable-Energy-Project)
the launch of the construction of the the solar and wind power plant at QIT
Madagascar Minerals (QMM) ilmenite mine operations in Fort Dauphin, in
southern Madagascar. The renewable energy project plays a key role in
implementing QMM's 'sustainable mine' concept and enabling Rio Tinto
operations in Madagascar to reach carbon neutrality by 2023.
• On 11 January, we announ
(https://eu.wdesk.com/a/QWNjb3VudB82MDAyNjEwNzMxNDgzMTM2/doc/db93549acf894032ae49229785a89508/r/-1/v/1/sec/db93549acf894032ae49229785a89508_7)
ced
(https://eu.wdesk.com/a/QWNjb3VudB82MDAyNjEwNzMxNDgzMTM2/doc/db93549acf894032ae49229785a89508/r/-1/v/1/sec/db93549acf894032ae49229785a89508_7)
the purchase of four battery-electric trains for use in the Pilbara, Western
Australia. Production is due to commence in 2023 ahead of initial trials in
the Pilbara in early 2024. The locomotives will be recharged at purpose-built
charging stations at the port or mine. They will also be capable of generating
additional energy while in transit through a regenerative braking system which
takes energy from the train and uses it to recharge the onboard batteries.
Our markets
Market dynamics were broadly positive throughout 2021 for most commodities,
lifting a number of prices to cyclical highs. Fiscal and monetary support and
successful vaccine campaigns were key contributors to strong demand growth
that ultimately stretched global supply chains to their limits and created
challenging conditions for many of the world's producers. We are encouraged by
growth prospects in the coming year but remain vigilant in relation to
potential disruption from new COVID-19 variants and geopolitical tensions.
• China is transitioning from tightening to easing policies
following a slowdown in the last quarter of 2021, with mild pro-growth
measures in place to support property, infrastructure and consumption. We
expect China to continue to finetune its policies to balance multiple
priorities.
• In the United States, activity momentum eased toward year end amid
concerns over the latest COVID-19 variant and persistent supply chain
constraints. Peak recovery has likely passed implying GDP growth will slow,
but solid fundamentals remain in place. Household debt has fallen to the
lowest since 2000, supply shortages are expected to ease and inventory
restocking should support growth.
• Economic activity in the eurozone weakened significantly in late
2021, and the current level of restrictions suggest a slower than expected
start to 2022, especially for the service-based economies.
• China's crude steel production and iron ore imports were stable
year on year, with steel production exceeding 1 billion tonnes for a second
time, despite numerous steel mill operating restrictions and a slowing
property sector. Steel consumption and production rates in China decelerated
significantly during the fourth quarter of 2021 however, iron ore seaborne
supply improved, resulting in a ~30% decline in iron ore prices in the fourth
quarter versus the prior quarter. Meanwhile, the steel and iron ore demand
recovery in developed and other emerging economies maintained its momentum and
global crude steel production grew by an estimated 6% year on year - by one of
its largest absolute annual increments in history - to a record total of
almost 2 billion tonnes in 2021.
• Aluminium prices experienced volatility during the quarter but
recovered to just over $2,800/t at the end of 2021, driven by extensive
power-related smelting curtailments in Europe. Physical markets remained tight
amid firm demand and lower inventory levels, resulting in regional market
premia recovering by the end of the year in both the United States and Europe.
• Copper prices ended the year at 440c/lb, down 45c/lb from record
levels reached in May 2021. Demand remained sound throughout 2021, whilst
supply faced multiple headwinds including COVID-19, shipping disruptions and
other factors. Exchange inventories declined over the course of 2021 and ended
the year at less than 200kt.
• Global electric vehicle (EV) sales more than doubled in 2021 due
to wider availability of EV models, government subsidies and falling
production costs (battery prices). Lithium production was unable to maintain
the same pace as demand and prices ended the year up 150%.
Average realised prices achieved for our major commodities
Units H1 2021 H2 2021 2021 2020
Pilbara iron ore FOB, $/wmt 154.9 111.5 132.3 91.0
Pilbara iron ore FOB, $/dmt 168.4 121.2 143.8 98.9
Aluminium* Metal $/t 2,626 3,254 2,899 1,946
Copper** US c/lb 415 435 424 283
IOC pellets $/wmt 218.3 210,8 214.4 127.6
*LME plus all-in premiums (product and market)
**Average realised price for all units sold. Realised price does not include
the impact of the provisional pricing adjustments, which positively impacted
revenues in 2021 by $246 million (2020 positive impact of $182 million).
IRON ORE
Rio Tinto share of production (Million tonnes) Q4 vs Q4 vs Q3 Full Year vs Full Year
2020
2021
2020
2021 2021
Pilbara Blend and SP10 Lump(1) 20.4 -6% +3% 76.4 -1%
Pilbara Blend and SP10 Fines(1) 32.1 +3% +4% 119.9 -3%
Robe Valley Lump 1.2 -16% -19% 5.1 -8%
Robe Valley Fines 2.0 -22% -11% 8.4 -20%
Yandicoogina Fines (HIY) 14.4 +1% -8% 56.9 -3%
Total Pilbara production 70.1 -1% 0% 266.8 -3%
Total Pilbara production (100% basis) 84.1 -2 % +1% 319.7 -4%
Rio Tinto share of shipments (Million tonnes) Q4 vs Q4 vs Q3 Full Year vs Full Year
2020
2021
2020
2021 2021
Pilbara Blend Lump 12.8 -21% -1% 51.5 -18%
Pilbara Blend Fines 24.3 -31% -16 % 109.6 -13%
Robe Valley Lump 1.1 -15% +10% 4.0 -14%
Robe Valley Fines 2.2 -27% -13% 9.4 -18%
Yandicoogina Fines (HIY) 14.1 -6% -5% 56.9 -1%
SP10 Lump(1) 4.8 +367% 0% 16.1 +315%
SP10 Fines(1) 10.7 +503% +163% 20.5 +244%
Total Pilbara shipments(2) 70.1 -5% +1% 267.9 -2%
Total Pilbara shipments (100% basis)(2) 84.1 -5 % +1% 321.6 -3%
Total Pilbara Shipments (consolidated basis)(2, 3) 72.0 -5% +1% 275.2 -2%
1 SP10 includes other lower grade products.
2 Shipments includes material shipped from the Pilbara to our portside trading
facility in China which may not be sold onwards by the group in the same
period.
3 While Rio Tinto has a 53% net beneficial interest in Robe River Iron
Associates, it recognises 65% of the assets, liabilities, sales revenues and
expenses in its accounts (as 30% is held through a 60% owned subsidiary and
35% is held through a 100% owned subsidiary). The consolidated basis sales
reported here include Robe River Iron Associates on a 65% basis to enable
comparison with revenue reported in the financial statements.
Pilbara operations
2021 shipments of 321.6 million tonnes (Rio Tinto share 267.9 million tonnes)
were 3% lower than 2020. Shipments included 36.6 million tonnes of SP10
products. There was 8.8 million tonnes of Pilbara product retained as working
capital at China portside (1.7 million tonnes in 2020). SP10 products
comprised a higher share of shipments in the fourth quarter as a result of
delays in growth and brownfield mine replacement tie-in projects. As those
mines ramp-up through the first half of 2022, we will see SP10 gradually
decrease and return to levels around 6% of shipments in the medium term.
Pilbara operations produced 319.7 million tonnes (Rio Tinto share 266.8
million tonnes) in 2021, 4% lower than 2020. This was due to above average
rainfall in the first half of the year, cultural heritage management and
delays in growth and brownfield mine replacement tie-in projects. Ongoing
COVID-19 restrictions and a tight labour market have further impacted our
ability to access experienced contractors and particular skill sets.
Production from the new greenfields mine at Gudai-Darri and brownfield mine
replacement project at Robe Valley, was delayed due to COVID-19 impact on
labour availability and an inability to conduct pre-delivery quality assurance
and control at international steel manufacturers due to limitations on travel.
First ore from Gudai-Darri was railed in December from the modular crushing
and screening plant installed to supplement production and mitigate
commissioning delays. Robe Valley production was significantly impacted by the
Mesa A wet plant commissioning delays.
Approximately 11% of sales in 2021 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.
Approximately 28% of sales in the fourth quarter were made on a free on board
(FOB) basis, with the remainder sold including freight.
Achieved realised pricing in 2021 was $132.3 per wet metric tonne on an FOB
basis (equivalent to $143.8 per dry metric tonne, at 8% moisture assumption).
This compares to the monthly average Platts index for 62% fines converted to
an FOB basis of $146.9 per dry metric tonne. In 2020, average realised pricing
was $91.0 per wet metric tonne ($98.9 dry metric tonne).
China Portside Trading
We continue to increase our iron ore portside sales in China, with 5.1 million
tonnes of sales in the fourth quarter of 2021 (1.8 million tonnes in the
fourth quarter of 2020), leading to a total of 14.0 million tonnes in 2021
(5.5 million tonnes in 2020). We experienced increased inventory levels at the
port due to higher volumes of SP10 and constrained availability of high grade
blending stocks in the fourth quarter.
Our portside operation handles product from the Pilbara and Canada as well as
third party product, and provides blending and screening capabilities.
Approximately 81% of portside sales in 2021 were either blended or screened in
Chinese ports.
ALUMINIUM
Rio Tinto share of production ('000 tonnes) Q4 vs Q4 vs Q3 Full Year vs Full Year
2020
2021
2020
2021 2021
Bauxite 13,095 -2% -6% 54,326 -3%
Bauxite third party shipments 8,988 -1% -11% 37,596 -4%
Alumina 1,911 -8% -1% 7,894 -2%
Aluminium 757 -7% -2% 3,151 -1%
Bauxite
Bauxite production of 54.3 million tonnes was 3% lower than 2020 due to severe
wet weather in the first quarter impacting system stability throughout the
year, equipment reliability issues and overruns on planned shutdowns at our
Pacific operations.
We shipped 37.6 million tonnes of bauxite to third parties in 2021, 4% lower
than the same period of 2020 due to the major weather events in the first
quarter causing shipment delays.
Alumina
Alumina production of 7.9 million tonnes was 2% lower than 2020, as a result
of outages during the year at the Yarwun refinery in Queensland, Australia and
at Vaudreuil refinery in Quebec, Canada. Production at the Queensland
refinery remained stable year on year.
Aluminium
Aluminium production of 3.2 million tonnes was 1% lower than 2020 due to
reduced capacity at our Kitimat smelter in British Columbia following the
strike which commenced in July 2021. Agreement with the labour union and
employees was reached in October with a controlled restart in 2022. The
reduced capacity was partly offset by a robust performance across the
remaining smelting portfolio.
Average realised aluminium prices including both product and market premiums
for value-added products (VAP) and remelt were up by 49% to $2,899 per tonne
in 2021 (2020: $1,946 per tonne). The LME price increased by 46% to $2,480 per
tonne (2020: $1,704 per tonne), whilst the mid-west premium duty paid
increased by 119% to $584 per tonne in 2021 (2020: $267 per tonne). Our VAP
sales comprised 50% of primary metal sold in 2021 (2020: 43%). Product
premiums for VAP sales improved by 8% averaging, $230 per tonne of VAP sold
(2020: $213 per tonne).
On 17 November, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-invests-to-increase-low-carbon-AP60-aluminium-production-in-Canada)
an investment of $87 million to increase low-carbon aluminium production in
Canada with 16 new smelting cells at our AP60 smelter, in the
Saguenay-Lac-Saint-Jean region of Quebec. The investment will increase
production at the smelter by around 45%, or 26,500 tonnes of primary aluminium
per year, to a capacity of 86,500 metric tonnes and provide a secure future
for approximately 100 employees who work at the facility.
COPPER
Rio Tinto share of production ('000 tonnes) Q4 vs Q4 vs Q3 Full Year vs Full Year
2020
2021
2020
2021 2021
Mined copper
Kennecott 49.7 +47% +16% 159.4 +14%
Escondida 69.6 -18% +2% 279.5 -17%
Oyu Tolgoi 13.0 -7% -7% 54.6 +9%
Refined copper
Kennecott 25.5 -38% -29% 143.3 +69%
Escondida 14.5 -5% -1% 58.6 -17%
Kennecott
Mined copper production was 14% higher than 2020, with higher grades and
recovery but less than expected production due to the slope failure in May.
The transition to the south wall is complete, with copper head grade exceeding
0.5% in the second half.
Refined copper production was 69% higher than 2020 as a result of improved
performance through most of the year relative to 2020, despite the furnace
failure in September 2021. The smelter was safely restarted in late October
and has been stable since. In 2020, there was also significant downtime
following an earthquake and major maintenance.
Escondida
Mined copper production was 17% lower than 2020, mainly due to 10% lower grade
in ore feed to concentrators, 4% lower throughput and 31% lower recoverable
copper in ore stacked for leaching, mostly caused by continuous COVID-19
restrictions in 2021 which impacted the mine development due to lower
workforce availability.
Oyu Tolgoi
Mined copper production from the open pit was 9% higher than 2020 with
improved performance, temporary increase in grades, and increased mill feed
following geotechnical issues in the first half, partly offset by lower
staffing levels due to COVID-19.
Safety is our first priority and strict measures are in place to protect our
people. In the fourth quarter, stringent Chinese border restrictions continued
due to increased cases of COVID-19 in Mongolia. We continue to work closely
with the Mongolian and Chinese authorities and our customers to manage the
risk of supply chain disruptions. Cross-border concentrate shipments into
China have resumed with some measures in place to transport greater volumes in
a safe and efficient manner, however uncertainty continues to exist with the
rate of COVID-19 cases in Mongolia. The force majeure declared on shipments
from 30 March remains in place.
Provisional pricing
At 31 December 2021, the Group had approximately 201 million pounds of copper
sales that were
provisionally priced at 436 cents per pound. The final price of these sales
will be determined during the first half of 2022. This compares with 260
million pounds of open shipments at 31 December 2020, provisionally priced at
336 cents per pound. Provisional pricing adjustments positively impacted
revenues in 2021 by $246 million (2020 positive impact of $182 million).
MINERALS
Rio Tinto share of production (million tonnes) Q4 vs Q4 vs Q3 Full Year vs Full Year
2020
2021
2020
2021 2021
Iron ore pellets and concentrate
IOC 2.5 -9% +15% 9.7 -6%
Rio Tinto share of production ('000 tonnes) Q4 vs Q4 vs Q3 Full Year vs Full Year
2020
2021
2020
2021 2021
Minerals
Borates - B(2)O(3) content 117 +18% -5% 488 +2%
Titanium dioxide slag 228 -16% +9% 1,014 -9%
Rio Tinto share of production ('000 carats) Q4 vs Q4 vs Q3 Full Year vs Full Year
2020
2021
2020
2021 2021
Diavik 1,155 +27% +38% 3,847 +3%
Iron Ore Company of Canada (IOC)
Iron ore production was 6% lower than 2020 due to prolonged labour and
equipment availability issues impacting product feed and various other
operational challenges throughout the year.
Borates
Borates production in 2021 was in line with 2020 and benefited from improved
refinery operating rates following the successful implementation of
productivity initiatives supporting system stability. We expect logistical
challenges to continue with elevated congestion at the Port of Los Angeles and
shipping rate escalation. Labour availability is also posing a threat to
supply chain stability.
Iron and Titanium
Titanium dioxide production was 9% lower than 2020. The lower production was
as a result of community disruptions and subsequent curtailment of operations
at Richards Bay Minerals (RBM) in South Africa coupled with unplanned
maintenance and equipment reliability issues at Rio Tinto Fer et Titane
(RTFT), Canada. On 24 August, RBM resumed operations following stabilisation
of the security situation, supported by the national and provincial
government, as well as substantive engagement with host communities and their
traditional authorities.
Diamonds
On 18 November, we annou
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-becomes-sole-owner-of-Diavik-Diamond-Mine)
nced
(https://www.riotinto.com/news/releases/2021/Rio-Tinto-becomes-sole-owner-of-Diavik-Diamond-Mine)
we had become the sole owner of Diavik Diamond Mine in the Northwest
Territories of Canada, continuing its leading role in the Canadian diamond
industry. At Diavik, carats recovered in 2021 were 3% higher than 2020, due to
an increased share of production from November, which offset plant performance
issues and lower ore grade in the fourth quarter.
On 28 October, we announced
(https://www.riotinto.com/news/releases/2021/Rio-Tintos-historic-2021-Argyle-Pink-Diamonds-Tender-delivers-record-breaking-results)
that the 2021 Argyle Pink Diamonds™ Tender collection of 70 rare pink and
red diamonds from our Argyle mine in Australia delivered record breaking
results in its 38-year history.The 2021 collection is a historical collection
comprising the pinnacle of the Argyle production, mined in its final year of
operations, before closing in November 2020.
EXPLORATION AND EVALUATION
Pre-tax and pre-divestment expenditure on exploration and evaluation charged
to the income statement in 2021 was $726 million, compared with $625 million
in 2020. Approximately 40% of this expenditure was incurred by Copper, 35%
by central exploration, 16% by Minerals and 9% by Iron Ore.
There were no significant divestments of central exploration properties in
2021.
Exploration highlights
Rio Tinto has a strong portfolio of projects with activity in 18 countries
across seven commodities in early exploration and studies stages. All projects
have followed government COVID-19 requirements and guidelines while focusing
on protecting well-being and health of local communities. The bulk of the
exploration expenditure in the fourth quarter focused on copper in Australia,
Canada, Kazakhstan, United States and Zambia, nickel projects in Canada, and
diamonds projects in Canada. A mineral investment contract was signed with the
Republic of Angola and Endiama to explore for diamonds. Mine-lease
exploration continued at Rio Tinto managed businesses including Pilbara Iron
in Australia and Diavik in Canada. Activities on the ground at the Falcon
diamonds project in Saskatchewan, Canada are limited to care and maintenance
while Rio Tinto continues to carry out studies and review information acquired
in previous programs.
A summary of activity for the quarter is as follows:
Commodities Studies Stage Advanced projects Greenfield/ Brownfield programmes
Bauxite Amargosa, Brazil*, Melville Island, Australia
Sanxai, Laos* Cape York, Australia
Battery Materials Lithium borates: Jadar, Serbia Nickel Greenfield: Canada, Finland
Nickel: Tamarack, US (3rd party operated)
Copper Copper/molybdenum: Resolution, US Copper: La Granja, Peru, Pribrezhniy, Kazakhstan Copper Greenfield: Australia, Chile, China, Kazakhstan, Nicaragua, Peru,
Serbia, US, Zambia, Brazil, Canada, Colombia, Finland, Namibia
Copper/Gold: Winu, Australia Calibre-Magnum, Australia
Diamonds Falcon, Canada* Diamonds Greenfield: Canada, Angola
Diamonds Brownfield: Diavik
Iron Ore Pilbara, Australia Pilbara, Australia Greenfield and Brownfield: Pilbara, Australia
Simandou, Guinea
Minerals Potash: KL262, Canada Heavy mineral sands Greenfield: South Africa
Heavy mineral sands: Mutamba, Mozambique**
*Limited activity during the quarter
**Became sole owner and operator in the quarter
FORWARD-LOOKING STATEMENT
This announcement includes "forward-looking statements" within the meaning of
the 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 financial position, business
strategy, plans and objectives of management for future operations (including
development plans and objectives relating to Rio Tinto's products, production
forecasts and reserve and resource positions and any statements related to the
ongoing impact of the COVID-19 pandemic), are forward-looking statements. The
words "intend", "aim", "project", "anticipate", "estimate", "plan",
"believes", "expects", "may", "would", "should", "could", "will", "target",
"set to", "seek", "risk" 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 results, performance or
achievements of Rio Tinto, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Such forward-looking statements are based on
numerous assumptions regarding Rio Tinto's present and future business
strategies and the environment in which Rio Tinto will operate in the future.
Among the important factors that could cause Rio Tinto's actual results,
performance or achievements to differ materially from those in the
forward-looking statements are levels of actual production during any period,
levels of demand and market prices, the ability to produce and transport
products profitably, the impact of foreign currency exchange rates on market
prices and operating costs, operational problems, political uncertainty and
economic conditions in relevant areas of the world, the actions of
competitors, activities by governmental authorities such as changes in
taxation or regulation, the risks and uncertainties associated with the
ongoing impacts of COVID-19 or other pandemic and such other risk factors
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. The above list is not exhaustive.
Forward-looking statements should, therefore, be construed in light of such
risk factors and undue reliance should not be placed on forward-looking
statements, particularly in light of the current economic climate and the
significant volatility, uncertainty and disruption caused by the outbreak of
COVID-19. 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
Guidance 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 Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, UK Media Relations, Australia
Illtud Harri Jonathan Rose
M +44 7920 503 600 M +61 447 028 913
David Outhwaite Matt Chambers
M +44 7787 597 493 M +61 433 525 739
Media Relations, Americas Jesse Riseborough
M +61 436 653 412
Matthew Klar
T +1 514 608 4429
Investor Relations, UK Investor Relations, Australia
Menno Sanderse Natalie Worley
M +44 7825 195 178 M +61 409 210 462
David Ovington Amar Jambaa
M +44 7920 010 978 M +61 472 865 948
Clare Peever
M: +44 7788 967 877
Rio Tinto plc Rio Tinto Limited
6 St James's Square Level 7, 360 Collins Street
London SW1Y 4AD Melbourne 3000
United Kingdom Australia
T +44 20 7781 2000 T +61 3 9283 3333
Registered in England Registered in Australia
No. 719885 ABN 96 004 458 404
This announcement is authorised for release to the market by Steve Allen, Rio
Tinto's Group Company Secretary.
riotinto.com
LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to be disclosed
under the laws of a Member State
Rio Tinto production summary
Rio Tinto share of production
Quarter Full Year % change
2020 2021 2021 2020 2021 Q4 21 Q4 21 2021
Q4 Q3 Q4 vs vs vs
Q4 20 Q3 21 2020
Principal commodities
Alumina ('000 t) 2,085 1,937 1,911 8,039 7,894 -8% -1% -2%
Aluminium ('000 t) 815 774 757 3,180 3,151 -7% -2% -1%
Bauxite ('000 t) 13,299 13,967 13,095 56,131 54,326 -2% -6% -3%
Borates ('000 t) 100 123 117 480 488 +18% -5% +2%
Copper - mined ('000 t) 132.5 125.2 132.3 527.9 493.5 0% +6% -7%
Copper - refined ('000 t) 56.1 50.5 40.0 155.0 201.9 -29% -21% +30%
Diamonds ('000 cts) 910 834 1,155 3,731 3,847 +27% +38% +3%
Iron Ore ('000 t) 73,749 72,074 72,561 285,932 276,557 -2% +1% -3%
Titanium dioxide slag ('000 t) 272 209 228 1,120 1,014 -16% +9% -9%
Other Metals & Minerals
Gold - mined ('000 oz) 89.1 94.5 73.9 283.0 344.9 -17% -22% +22%
Gold - refined ('000 oz) 38.9 44.5 31.5 117.5 176.4 -19% -29% +50%
Molybdenum ('000 t) 6.4 0.4 1.1 20.4 7.6 -83% +144% -63%
Uranium ('000 lbs) 742 0 0 2,870 65 -100% 0% -98%
Salt ('000 t) 1,113 1,508 1,471 4,861 5,848 +32% -2% +20%
Silver - mined ('000 oz) 1,120 1,110 1,108 4,357 4,148 -1% 0% -5%
Silver - refined ('000 oz) 449 733 516 1,363 2,671 +15% -30% +96%
Throughout this report, figures in italics indicate adjustments made since the
figure was previously quoted on the equivalent page or reported for the first
time. 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 Q4 Q1 Q2 Q3 Q4 Full Year Full Year
interest
2020
2021
2021
2021
2021
2020
2021
ALUMINA
Production ('000 tonnes)
Jonquière (Vaudreuil) 100% 364 352 349 325 338 1,424 1,364
Jonquière (Vaudreuil) specialty Alumina plant 100% 24 22 28 29 28 94 107
Queensland Alumina 80% 774 743 756 738 727 2,961 2,964
São Luis (Alumar) 10% 99 95 97 75 99 385 366
Yarwun 100% 823 822 782 770 719 3,175 3,093
Rio Tinto total alumina production 2,085 2,034 2,012 1,937 1,911 8,039 7,894
ALUMINIUM
Production ('000 tonnes)
Australia - Bell Bay 100% 48 46 47 48 48 192 189
Australia - Boyne Island 59% 77 74 75 75 75 303 298
Australia - Tomago 52% 77 75 75 77 78 305 305
Canada - six wholly owned 100% 387 385 391 343 325 1,506 1,444
Canada - Alouette (Sept-Îles) 40% 63 62 63 64 63 249 251
Canada - Bécancour 25% 29 28 29 29 30 98 116
Iceland - ISAL (Reykjavik) 100% 48 49 51 52 52 183 203
New Zealand - Tiwai Point 79% 67 65 65 67 67 265 264
Oman - Sohar 20% 20 20 20 20 20 79 79
Rio Tinto total aluminium production 815 803 816 774 757 3,180 3,151
BAUXITE
Production ('000 tonnes) (a)
Gove 100% 3,090 2,879 3,030 3,067 2,787 12,299 11,763
Porto Trombetas 12% 392 254 364 332 416 1,395 1,366
Sangaredi (b) 1,887 1,887 1,755 1,763 1,704 7,428 7,109
Weipa 100% 7,929 8,545 8,550 8,805 8,188 35,009 34,088
Rio Tinto total bauxite production 13,299 13,566 13,699 13,967 13,095 56,131 54,326
(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 Q4 Q1 Q2 Q3 Q4 Full Year Full Year
interest
2020
2021
2021
2021
2021
2020
2021
BORATES
Production ('000 tonnes B(2)O(3) content)
Rio Tinto Borates - borates 100% 100 122 126 123 117 480 488
COPPER
Mine production ('000 tonnes) (a)
Bingham Canyon 100% 33.8 33.2 33.7 42.8 49.7 140.0 159.4
Escondida 30% 84.8 72.1 69.5 68.4 69.6 337.8 279.5
Oyu Tolgoi (b) 34% 14.0 15.2 12.3 14.1 13.0 50.2 54.6
Rio Tinto total mine production 132.5 120.5 115.5 125.2 132.3 527.9 493.5
Refined production ('000 tonnes)
Escondida 30% 15.2 14.0 15.3 14.7 14.5 70.2 58.6
Rio Tinto Kennecott (c) 100% 40.9 45.2 36.9 35.7 25.5 84.8 143.3
Rio Tinto total refined production 56.1 59.2 52.3 50.5 40.0 155.0 201.9
(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.
(c) We continue to process third party concentrate to optimise smelter
utilisation, including 38.1 thousand tonnes of cathode produced from purchased
concentrate in year-to-date 2021. Purchased and tolled copper concentrates are
excluded from reported production figures and production guidance. Sales of
cathodes produced from purchased concentrate are included in reported
revenues.
DIAMONDS
Production ('000 carats)
Diavik (a) 100% 910 1,007 851 834 1,155 3,731 3,847
(a) On 17 November 2021, Rio Tinto's ownership interest in Diavik increased
from 60% to 100%. Production is reported including this change from 1 November
2021.
GOLD
Mine production ('000 ounces) (a)
Bingham Canyon 100% 45.3 36.2 30.5 38.1 34.7 171.2 139.5
Escondida 30% 14.3 11.4 11.7 12.6 12.9 50.9 48.5
Oyu Tolgoi (b) 34% 29.4 48.8 37.9 43.8 26.3 61.0 156.9
Rio Tinto total mine production 89.1 96.4 80.1 94.5 73.9 283.0 344.9
Refined production ('000 ounces)
Rio Tinto Kennecott 100% 38.9 56.8 43.6 44.5 31.5 117.5 176.4
(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.
(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 Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2021
interest 2020 2021 2021 2021 2021 2020
IRON ORE
Production ('000 tonnes) (a)
Hamersley mines (b) 53,316 47,063 47,621 53,041 51,974 210,682 199,699
Hamersley - Channar (c) 100% 1,935 2,250 2,712 2,593 3,075 6,139 10,630
Hope Downs 50% 6,571 5,616 5,960 6,500 6,567 24,522 24,642
Iron Ore Company of Canada 59% 2,740 2,345 2,721 2,163 2,498 10,402 9,727
Robe River - Pannawonica (Mesas J and A) 53% 3,988 3,506 3,090 3,721 3,196 16,056 13,514
Robe River - West Angelas 53% 5,199 4,900 4,137 4,056 5,252 18,131 18,345
Rio Tinto iron ore production ('000 tonnes) 73,749 65,681 66,241 72,074 72,561 285,932 276,557
Breakdown of Production:
Pilbara Blend and SP10 Lump (d) 21,666 18,050 18,265 19,742 20,374 77,393 76,431
Pilbara Blend and SP10 Fines (d) 31,122 28,245 28,796 30,825 32,081 123,292 119,947
Robe Valley Lump 1,364 1,307 1,219 1,423 1,152 5,561 5,102
Robe Valley Fines 2,624 2,199 1,871 2,297 2,044 10,496 8,412
Yandicoogina Fines (HIY) 14,233 13,534 13,369 15,623 14,412 58,789 56,938
Pilbara iron ore production ('000 tonnes) 71,009 63,336 63,520 69,910 70,063 275,530 266,830
IOC Concentrate 1,297 871 1,154 829 1,009 4,781 3,863
IOC Pellets 1,443 1,474 1,567 1,335 1,489 5,622 5,864
IOC iron ore production ('000 tonnes) 2,740 2,345 2,721 2,163 2,498 10,402 9,727
Breakdown of Shipments:
Pilbara Blend Lump 16,280 12,842 12,830 13,018 12,832 62,878 51,522
Pilbara Blend Fines 35,140 28,565 27,795 28,901 24,308 126,578 109,569
Robe Valley Lump 1,246 1,025 934 962 1,061 4,608 3,981
Robe Valley Fines 3,062 2,402 2,190 2,567 2,237 11,473 9,395
Yandicoogina Fines (HIY) 15,055 14,222 13,640 14,906 14,121 57,749 56,889
SP10 Lump (d) 1,037 2,664 3,748 4,826 4,841 3,879 16,078
SP10 Fines (d) 1,771 2,923 2,817 4,063 10,684 5,951 20,487
Pilbara iron ore shipments ('000 tonnes) (e) 73,590 64,642 63,953 69,242 70,084 273,115 267,921
Pilbara iron ore shipments - consolidated basis ('000 tonnes) (e) (g) 75,630 66,431 65,627 71,131 71,972 280,831 275,161
IOC Concentrate 1,157 1,019 1,048 1,054 989 4,928 4,110
IOC Pellets 1,539 1,477 1,303 1,374 1,711 6,006 5,865
IOC Iron ore shipments ('000 tonnes) (e) 2,696 2,496 2,352 2,428 2,700 10,934 9,976
Rio Tinto iron ore shipments ('000 tonnes) (e) 76,286 67,137 66,305 71,671 72,784 284,050 277,897
Rio Tinto iron ore sales ('000 tonnes) (f) 76,125 65,551 67,145 70,967 69,489 283,778 273,153
(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, Western Turner
Syncline, 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) Rio Tinto's ownership interest in Channar mine increased from 60% to 100%,
following conclusion of its joint venture with Sinosteel Corporation upon
reaching planned 290 million tonnes production on 22 October 2020. Production
is reported at 100% from this date onward. Historic data is unchanged.
(d) SP10 includes other lower grade products.
(e) Shipments includes material shipped to our portside trading facility in
China which may not be sold onwards in the same period.
(f) Represents the difference between amounts shipped to portside trading and
onward sales from portside trading, and third party volumes sold.
(g) While Rio Tinto has a 53% net beneficial interest in Robe River Iron
Associates, it recognises 65% of the assets, liabilities, sales revenues and
expenses in its accounts (as 30% is held through a 60% owned subsidiary and
35% is held through a 100% owned subsidiary). The consolidated basis sales
reported here include Robe River Iron Associates on a 65% basis to enable
comparison with revenue reported in the financial statements.
Rio Tinto share of production
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2021
interest 2020 2021 2021 2021 2021 2020
MOLYBDENUM
Mine production ('000 tonnes) (a)
Bingham Canyon 100% 6.4 5.0 1.1 0.4 1.1 20.4 7.6
(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.
SALT
Production ('000 tonnes)
Dampier Salt 68% 1,113 1,411 1,458 1,508 1,471 4,861 5,848
SILVER
Mine production ('000 ounces) (a)
Bingham Canyon 100% 555 524 476 639 589 2,205 2,228
Escondida 30% 488 395 370 387 439 1,859 1,591
Oyu Tolgoi (b) 34% 77 85 79 84 80 293 328
Rio Tinto total mine production 1,120 1,005 925 1,110 1,108 4,357 4,148
Refined production ('000 ounces)
Rio Tinto Kennecott 100% 449 812 609 733 516 1,363 2,671
(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% 272 279 298 209 228 1,120 1,014
(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 U(3)O(8)) (a)
Energy Resources of Australia 86% 742 65 - - - 2,870 65
(a) ERA production data are drummed U(3)O(8).
ERA ceased processing operations on 8 January 2021, as required by the Ranger
Authority.
Rio Tinto's Argyle operations were closed in 2020. No data for these
operations are included in the Share of production table.
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 percentage interest shown above is at 31 December 2021.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
interest
2020
2021
2021
2021
2021
2020
2021
ALUMINA
Smelter Grade Alumina - Aluminium Group
Alumina production ('000 tonnes)
Australia
Queensland Alumina Refinery - Queensland 80% 968 929 945 922 909 3,701 3,705
Yarwun refinery - Queensland 100% 823 822 782 770 719 3,175 3,093
Brazil
São Luis (Alumar) refinery 10% 990 953 968 748 993 3,848 3,662
Canada
Jonquière (Vaudreuil) refinery - Quebec (a) 100% 364 352 349 325 338 1,424 1,364
(a) Jonquière's (Vaudreuil's) production shows smelter grade alumina only and
excludes hydrate produced and used for specialty alumina.
Speciality Alumina - Aluminium Group
Speciality alumina production ('000 tonnes)
Canada
Jonquière (Vaudreuil) plant - Quebec 100% 24 22 28 29 28 94 107
Rio Tinto percentage interest shown above is at 31 December 2021. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
interest 2020 2021 2021 2021 2021
ALUMINIUM
Primary Aluminium
Primary aluminium production ('000 tonnes)
Australia
Bell Bay smelter - Tasmania 100% 48 46 47 48 48 192 189
Boyne Island smelter - Queensland 59% 129 124 127 125 126 510 502
Tomago smelter - New South Wales 52% 149 145 146 150 150 592 592
Canada
Alma smelter - Quebec 100% 119 117 117 119 119 473 471
Alouette (Sept-Îles) smelter - Quebec 40% 158 155 157 159 157 623 629
Arvida smelter - Quebec 100% 41 40 42 42 43 169 168
Arvida AP60 smelter - Quebec 100% 15 15 15 15 15 60 60
Bécancour smelter - Quebec 25% 115 112 117 115 119 393 463
Grande-Baie smelter - Quebec 100% 57 56 57 58 58 225 230
Kitimat smelter - British Columbia 100% 91 95 97 46 25 329 263
Laterrière smelter - Quebec 100% 63 62 63 63 64 250 252
Iceland
ISAL (Reykjavik) smelter 100% 48 49 51 52 52 183 203
New Zealand
Tiwai Point smelter 79% 84 82 82 84 85 333 333
Oman
Sohar smelter 20% 100 98 99 100 100 397 395
Rio Tinto percentage interest shown above is at 31 December 2021. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
interest 2020 2021 2021 2021 2021
BAUXITE
Bauxite production ('000 tonnes)
Australia
Gove mine - Northern Territory 100% 3,090 2,879 3,030 3,067 2,787 12,299 11,763
Weipa mine - Queensland 100% 7,929 8,545 8,550 8,805 8,188 35,009 34,088
Brazil
Porto Trombetas (MRN) mine 12% 3,268 2,117 3,033 2,764 3,469 11,629 11,383
Guinea
Sangaredi mine (a) 23% 4,193 4,194 3,899 3,919 3,786 16,506 15,797
Rio Tinto share of bauxite shipments
Share of total bauxite shipments ('000 tonnes) 12,993 13,444 13,602 14,201 13,031 55,345 54,278
Share of third party bauxite shipments ('000 tonnes) 9,104 9,024 9,493 10,091 8,988 39,357 37,596
(a) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits
from 45.0% of production.
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
interest
2020
2021
2021
2021
2021
2020
2021
BORATES
Rio Tinto Borates - borates 100%
US
Borates ('000 tonnes) (a) 100 122 126 123 117 480 488
(a) Production is expressed as B(2)O(3) content.
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
interest 2020 2021 2021 2021 2021
COPPER & GOLD
Escondida 30%
Chile
Sulphide ore to concentrator ('000 tonnes) 36,303 32,654 31,903 33,528 35,787 139,230 133,872
Average copper grade (%) 0.83 0.78 0.78 0.73 0.71 0.83 0.75
Mill production (metals in concentrates):
Contained copper ('000 tonnes) 246.1 207.8 202.8 201.2 203.6 956.8 815.5
Contained gold ('000 ounces) 47.8 38.0 38.9 42.0 42.9 169.5 161.7
Contained silver ('000 ounces) 1,627 1,318 1,234 1,291 1,462 6,196 5,305
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 36.5 32.5 28.7 26.7 28.4 169.1 116.3
Refined production from leach plants:
Copper cathode production ('000 tonnes) 50.8 46.6 51.1 49.0 48.4 233.9 195.3
(a) The calculation of copper in material mined for leaching is based on ore
stacked at the leach pad.
Rio Tinto percentage interest shown above is at 31 December 2021. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
interest 2020 2021 2021 2021 2021
COPPER & GOLD (continued)
Rio Tinto Kennecott
Bingham Canyon mine 100%
Utah, US
Ore treated ('000 tonnes) 11,418 10,054 7,918 9,995 9,809 44,676 37,776
Average ore grade:
Copper (%) 0.34 0.38 0.48 0.47 0.55 0.36 0.47
Gold (g/t) 0.22 0.21 0.21 0.22 0.21 0.22 0.21
Silver (g/t) 2.07 2.30 2.64 2.80 2.55 2.08 2.57
Molybdenum (%) 0.068 0.058 0.021 0.017 0.020 0.059 0.029
Copper concentrates produced ('000 tonnes) 138 140 141 180 187 561 648
Average concentrate grade (% Cu) 24.2 23.7 23.9 23.7 26.3 24.8 24.5
Production of metals in copper concentrates:
Copper ('000 tonnes) (a) 33.8 33.2 33.7 42.8 49.7 140.0 159.4
Gold ('000 ounces) 45.3 36.2 30.5 38.1 34.7 171.2 139.5
Silver ('000 ounces) 555 524 476 639 589 2,205 2,228
Molybdenum concentrates produced ('000 tonnes): 12.2 9.4 2.2 1.0 2.2 40.7 14.8
Molybdenum in concentrates ('000 tonnes) 6.4 5.0 1.1 0.4 1.1 20.4 7.6
Kennecott smelter & refinery 100%
Copper concentrates smelted ('000 tonnes) 234 240 103 165 157 448 665
Copper anodes produced ('000 tonnes) (b) 44.8 50.5 23.5 35.7 32.9 86.9 142.5
Production of refined metal:
Copper ('000 tonnes) (c) 40.9 45.2 36.9 35.7 25.5 84.8 143.3
Gold ('000 ounces) (d) 38.9 56.8 43.6 44.5 31.5 117.5 176.4
Silver ('000 ounces) (d) 449 812 609 733 516 1,363 2,671
(a) Includes a small amount of copper in precipitates.
(b) New metal excluding recycled material.
(c) We continue to process third party concentrate to optimise smelter
utilisation, including 38.1 thousand tonnes of cathode produced from purchased
concentrate in year-to-date 2021. Purchased and tolled copper concentrates are
excluded from reported production figures and production guidance. Sales of
cathodes produced from purchased concentrate are included in reported
revenues.
(d) Includes gold and silver in intermediate products.
Rio Tinto percentage interest shown above is at 31 December 2021. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
interest 2020 2021 2021 2021 2021
COPPER & GOLD (continued)
Turquoise Hill Resources
Oyu Tolgoi mine (a) 34%
Mongolia
Ore Treated ('000 tonnes) 9,594 9,813 9,401 9,336 10,573 40,200 39,124
Average mill head grades:
Copper (%) 0.50 0.56 0.47 0.53 0.46 0.46 0.50
Gold (g/t) 0.41 0.68 0.50 0.63 0.38 0.24 0.54
Silver (g/t) 1.16 1.29 1.19 1.29 1.27 1.18 1.26
Copper concentrates produced ('000 tonnes) 190.2 201.9 173.2 191.9 182.7 693.1 749.6
Average concentrate grade (% Cu) 21.9 22.5 21.2 21.9 21.3 21.6 21.7
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 41.6 45.4 36.7 41.9 38.9 149.6 163.0
Gold in concentrates ('000 ounces) 87.8 145.7 113.1 130.8 78.6 181.9 468.1
Silver in concentrates ('000 ounces) 231 255 235 249 239 876 977
Sales of metals in concentrates:
Copper in concentrates ('000 tonnes) 37.9 39.0 19.6 46.4 34.4 137.8 139.4
Gold in concentrates ('000 ounces) 65.8 110.9 72.6 149.1 102.2 150.0 434.7
Silver in concentrates ('000 ounces) 194 207 106 278 192 760 783
(a) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79%
interest in Turquoise Hill Resources.
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
interest 2020 2021 2021 2021 2021
DIAMONDS
Argyle Diamonds (a) 100%
Western Australia
AK1 ore processed ('000 tonnes) 1,078 - - - - 5,773 -
AK1 diamonds produced ('000 carats) 1,893 - - - - 10,945 -
Diavik Diamonds (b) 100%
Northwest Territories, Canada
Ore processed ('000 tonnes) 643 632 669 643 596 2,518 2,540
Diamonds recovered ('000 carats) 1,517 1,678 1,418 1,390 1,356 6,218 5,843
(a) Rio Tinto's Argyle operations were closed in 2020.
(b) On 17 November 2021, Rio Tinto's ownership interest in Diavik increased
from 60% to 100%. Production is reported including this change from 1 November
2021.
Rio Tinto percentage interest shown above is at 31 December 2021. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
2021
2020
2021
interest 2021 2021
IRON ORE
Rio Tinto Iron Ore
Western Australia
Pilbara Operations
Saleable iron ore production ('000 tonnes)
Hamersley mines (a) 53,316 47,063 47,621 53,041 51,974 210,682 199,699
Hamersley - Channar (b) 100% 2,169 2,250 2,712 2,593 3,075 9,175 10,630
Hope Downs 50% 13,142 11,232 11,920 13,000 13,133 49,045 49,284
Robe River - Pannawonica (Mesas J and A) 53% 7,525 6,616 5,830 7,021 6,031 30,295 25,497
Robe River - West Angelas 53% 9,809 9,246 7,806 7,652 9,909 34,209 34,613
Total production ('000 tonnes) 85,961 76,406 75,889 83,306 84,122 333,405 319,724
Breakdown of total production:
Pilbara Blend and SP10 Lump (c) 25,888 21,901 21,946 23,617 24,998 94,375 92,463
Pilbara Blend and SP10 Fines (c) 38,316 34,356 34,743 37,046 38,681 149,947 144,826
Robe Valley Lump 2,574 2,467 2,300 2,686 2,173 10,492 9,626
Robe Valley Fines 4,951 4,149 3,530 4,335 3,857 19,803 15,871
Yandicoogina Fines (HIY) 14,233 13,534 13,369 15,623 14,412 58,789 56,938
Breakdown of total shipments:
Pilbara Blend Lump 20,155 15,740 15,631 16,710 16,616 77,117 64,697
Pilbara Blend Fines 42,727 35,777 34,607 36,199 31,620 155,533 138,203
Robe Valley Lump 2,351 1,934 1,762 1,814 2,001 8,694 7,512
Robe Valley Fines 5,778 4,532 4,131 4,843 4,221 21,648 17,727
Yandicoogina Fines (HIY) 15,055 14,222 13,640 14,906 14,121 57,749 56,889
SP10 Lump (c) 1,037 2,664 3,748 4,826 4,841 3,879 16,078
SP10 Fines (c) 1,771 2,923 2,817 4,063 10,684 5,951 20,487
Total shipments ('000 tonnes) (d) 88,873 77,791 76,336 83,360 84,104 330,570 321,592
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
2021
2020
2021
interest 2021 2021
Iron Ore Company of Canada 59%
Newfoundland & Labrador and Quebec in Canada
Saleable iron ore production:
Concentrates ('000 tonnes) 2,208 1,484 1,965 1,411 1,718 8,141 6,578
Pellets ('000 tonnes) 2,457 2,510 2,669 2,273 2,535 9,574 9,986
IOC Total production ('000 tonnes) 4,666 3,993 4,634 3,684 4,254 17,715 16,564
Shipments:
Concentrates ('000 tonnes) 1,970 1,735 1,785 1,795 1,684 8,392 7,000
Pellets ('000 tonnes) 2,620 2,515 2,220 2,340 2,914 10,229 9,988
IOC Total Shipments ('000 tonnes) (d) 4,591 4,250 4,005 4,136 4,598 18,621 16,989
Global Iron Ore Totals
Iron Ore Production ('000 tonnes) 90,627 80,400 80,523 86,990 88,375 351,121 336,288
Iron Ore Shipments ('000 tonnes) 93,464 82,041 80,341 87,496 88,702 349,190 338,581
Iron Ore Sales ('000 tonnes) (e) 93,016 80,291 81,097 86,542 85,256 348,098 333,185
(a) Includes 100% of production from Paraburdoo, Mt Tom Price, Western Turner
Syncline, 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) Rio Tinto's ownership interest in Channar mine increased from 60% to 100%,
following conclusion of its joint venture with Sinosteel Corporation upon
reaching planned 290 million tonnes production on 22 October 2020. Historic
data is unchanged.
(c) SP10 includes other lower grade products.
(d) Shipments includes material shipped to our portside trading facility in
China which may not be sold onwards in the same period.
(e) Include Pilbara and IOC sales adjusted for portside trading movements and
third party volumes sold.
Rio Tinto percentage interest shown above is at 31 December 2021. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
2020
2021
2021
2020
2021
interest 2021 2021
SALT
Dampier Salt 68%
Western Australia
Salt production ('000 tonnes) 1,628 2,064 2,132 2,206 2,152 7,111 8,555
TITANIUM DIOXIDE SLAG
Rio Tinto Iron & Titanium 100%
Canada and South Africa
(Rio Tinto share) (a)
Titanium dioxide slag ('000 tonnes) 272 279 298 209 228 1,120 1,014
( )
(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) 86%
Northern Territory, Australia
U(3)O(8) Production ('000 lbs) 860 75 - - - 3,471 75
(a) ERA production data are drummed U(3)O(8).
ERA ceased processing operations on 8 January 2021, as required by the Ranger
Authority.
Rio Tinto percentage interest shown above is at 31 December 2021. The data
represents 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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DRLSFMEEWEESESFRecent news on Rio Tinto
See all newsREG - Rio Tinto - Block listing Interim Review
AnnouncementREG - Rio Tinto - Director/PDMR Shareholding
AnnouncementREG - Rio Tinto - Director/PDMR Shareholding
AnnouncementREG - Rio Tinto - Result of AGM
AnnouncementREG - Rio Tinto - Total Voting Rights
Announcement