REG - Rio Tinto - Rio Tinto delivers very strong first half <Origin Href="QuoteRef">RIO.L</Origin> - Part 3
06/09/2014 16:38
- Part 3: For the preceding part double click ID:nRSP4232Mb
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 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2013 2013 2013 2014 2014 2013 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 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2013 2013 2013 2014 2014 2013 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 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2013 2013 2013 2014 2014 2013 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 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2013 2013 2013 2014 2014 2013 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 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2013 2013 2013 2014 2014 2013 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
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