REG - Rio Tinto - Rio Tinto fourth quarter production results <Origin Href="QuoteRef">RIO.L</Origin> - Part 2
17/01/2017 07:05
- Part 2: For the preceding part double click ID:nRSQ3007Ua
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.
(a) On 16 December 2016, Rio Tinto completed the sale of its 100% interest in the Lochaber aluminium smelter.
(b) 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.
(c) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits from 45.0% of production.
(d) Kestrel and Hail Creek produce hard coking coal and thermal coal through their mining operations. Both mines may blend coal types at ports.
(e) As a result of a restructure of the Coal & Allied group, which completed on 3 February 2016, Rio Tinto obtained 100% ownership of Coal & Allied and Mitsubishi obtained a direct interest of 32.4% in the newly created Hunter Valley Operations joint venture, which owns the Hunter Valley Operations mine. Updated ownership reflects these changes. Historical production prior to the date of the restructure, reflects previous ownership in the Hunter Valley Operations, Mt Thorley and Warkworth mines of 80%, 64%
and 44.46% respectively.
(f) Rio Tinto sold its interest in the Bengalla Joint Venture with an effective date of 1 March 2016.
(g) 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.
(h) Fourth-quarter 2016 adjustments to Grasberg forecasted full-year 2016 production resulted in adjustments to Rio Tinto's share of previously reported mine production in the first, second and third quarters of 2016.
(i) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources Ltd.
(j) 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.
(k) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74% interest in Richards Bay Minerals (RBM).
(l) ERA and Rössing production reported are drummed U3O8.
The Rio Tinto percentage shown above is at 31 December 2016.
Rio Tinto's interest in the Murowa mine was sold in 2015. No data for this operation are included in the Share of Production table.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q 2016 Full Year Full Year
interest 2015 2016 2016 2016 2015 2016
ALUMINA
Smelter Grade Alumina - Aluminium Group
Alumina production ('000 tonnes)
Australia
Queensland Alumina Refinery - Queensland 80.0% 940 953 961 947 987 3,747 3,848
Yarwun refinery - Queensland 100.0% 778 785 823 747 821 2,864 3,176
Brazil
São Luis (Alumar) refinery 10.0% 937 903 931 916 957 3,667 3,707
Canada
Jonquière (Vaudreuil) refinery - Quebec (a) 100.0% 361 377 353 355 367 1,449 1,452
(a) Jonquière's (Vaudreuil's) production shows smelter grade alumina only and excludes hydrate produced and used for specialty alumina.
Specialty Alumina - Aluminium Group
Specialty alumina production ('000 tonnes)
Canada
Jonquière (Vaudreuil) plant - Quebec 100.0% 26 25 29 29 31 110 115
Rio Tinto percentage interest shown above is at 31 December 2016. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2015 2016 2016 2016 2016 2015 2016
ALUMINIUM
Primary Aluminium
Primary aluminium production ('000 tonnes)
Australia
Bell Bay smelter - Tasmania 100.0% 49 45 45 46 47 191 182
Boyne Island smelter - Queensland 59.4% 146 145 145 147 147 579 583
Tomago smelter - New South Wales 51.6% 146 145 147 149 149 579 589
Canada
Alma smelter - Quebec 100.0% 118 117 116 117 117 466 467
Alouette (Sept-Îles) smelter - Quebec 40.0% 153 152 152 152 153 606 609
Arvida smelter - Quebec 100.0% 44 43 43 43 43 173 172
Arvida AP60 smelter - Quebec 100.0% 15 15 15 15 15 59 60
Bécancour smelter - Quebec 25.1% 111 113 108 114 110 437 445
Grande-Baie smelter - Quebec 100.0% 57 56 56 58 58 221 227
Kitimat smelter - British Columbia 100.0% 51 83 107 109 109 110 408
Laterrière smelter - Quebec 100.0% 62 61 61 62 63 244 247
France
Dunkerque smelter 100.0% 70 69 69 71 71 275 280
Iceland
ISAL (Reykjavik) smelter 100.0% 50 50 52 51 52 201 205
New Zealand
Tiwai Point smelter 79.4% 85 84 84 85 85 333 339
Oman
Sohar smelter 20.0% 96 97 97 95 97 377 386
United Kingdom
Lochaber smelter (a) 0.0% 12 12 12 12 10 47 46
(a) On 16 December 2016, Rio Tinto completed the sale of its 100% interest in the Lochaber aluminium smelter.
Rio Tinto percentage interest shown above is at 31 December 2016. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2015 2016 2016 2016 2016 2015 2016
BAUXITE
Bauxite production ('000 tonnes)
Australia
Gove mine - Northern Territory 100.0% 1,959 2,214 2,186 2,521 2,169 7,497 9,091
Weipa mine - Queensland 100.0% 6,899 6,524 7,560 7,642 7,700 27,663 29,427
Brazil
Porto Trombetas (MRN) mine 12.0% 4,437 3,805 3,920 4,441 4,296 16,162 16,462
Guinea
Sangaredi mine (a) 23.0% 4,044 4,205 4,126 3,836 3,856 14,615 16,023
Rio Tinto share of bauxite shipments
Share of total bauxite shipments ('000 tonnes) 10,890 11,153 11,683 12,743 11,996 43,462 47,575
Share of third party bauxite shipments ('000 tonnes) 6,576 6,768 7,101 8,093 7,345 26,569 29,308
(a) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits from 45.0% of production.
Rio Tinto percentage interest shown above is at 31 December 2016. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2015 2016 2016 2016 2016 2015 2016
BORATES
Rio Tinto Minerals - borates 100.0%
US
Borates ('000 tonnes) (a) 107 127 123 132 121 476 503
(a) Production is expressed as B2O3 content.
COAL
Rio Tinto Coal Australia
Bengalla mine (a) 0.0%
New South Wales
Thermal coal ('000 tonnes) 2,166 1,476 - - - 8,319 1,476
Hail Creek Coal mine 82.0%
Queensland
Hard coking coal ('000 tonnes) 1,383 1,492 1,466 1,522 1,470 6,218 5,950
Thermal coal ('000 tonnes) 856 1,091 806 960 910 3,245 3,767
Hunter Valley Operations (b) 67.6%
New South Wales
Semi-soft coking coal ('000 tonnes) 685 964 651 1,245 859 2,966 3,720
Thermal coal ('000 tonnes) 2,939 1,911 3,104 2,361 2,550 10,048 9,925
Kestrel Coal mine 80.0%
Queensland
Hard coking coal ('000 tonnes) 957 948 745 1,158 1,227 3,450 4,077
Thermal coal ('000 tonnes) 231 173 120 281 271 637 846
Mount Thorley Operations (b) 80.0%
New South Wales
Semi-soft coking coal ('000 tonnes) 254 466 414 187 353 1,398 1,420
Thermal coal ('000 tonnes) 602 742 315 758 1,035 2,815 2,850
Rio Tinto percentage interest shown above is at 31 December 2016. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2015 2016 2016 2016 2016 2015 2016
COAL (continued)
Warkworth mine (b) 55.6%
New South Wales
Semi-soft coking coal ('000 tonnes) 194 267 218 135 190 853 809
Thermal coal ('000 tonnes) 1,945 1,672 2,188 2,035 1,330 6,663 7,225
Total hard coking coal production ('000 tonnes) 2,340 2,440 2,210 2,680 2,697 9,668 10,027
Total semi-soft coking coal production ('000 tonnes) 1,133 1,697 1,284 1,567 1,402 5,217 5,950
Total thermal coal production ('000 tonnes) 8,739 7,065 6,533 6,395 6,096 31,727 26,090
Total coal production ('000 tonnes) 12,212 11,202 10,026 10,642 10,196 46,612 42,067
Total coal sales ('000 tonnes) 12,261 11,047 10,357 10,129 10,241 46,658 41,773
Rio Tinto Coal Australia share (c)
Share of hard coking coal sales ('000 tonnes) 2,018 2,099 1,879 2,332 2,395 8,070 8,704
Share of semi-soft coal sales ('000 tonnes) (d) 784 1,122 1,075 904 1,043 3,609 4,144
Share of thermal coal sales ('000 tonnes) (d) 5,037 4,287 4,260 3,958 3,979 18,420 16,484
(a) Rio Tinto sold its interest in the Bengalla Joint
Venture with an effective date of 1 March 2016.
(b) As a result of a restructure of the Coal & Allied
group, which completed on 3 February 2016, Rio Tinto
obtained 100% ownership of Coal & Allied and Mitsubishi
obtained a direct interest of 32.4% in the newly created
Hunter Valley Operations joint venture, which owns the
Hunter Valley Operations mine. Updated ownership
reflects these changes. Historical production prior to
the date of the restructure, reflects previous ownership
in the Hunter Valley Operations, Mt Thorley and
Warkworth mines of 80%, 64% and 44.46% respectively.
(c) Kestrel and Hail Creek produce hard coking coal and
thermal coal through their mining operations. Both mines
may blend coal types at ports.
(d) Sales relate only to coal mined by the operations
and exclude traded coal.
Rio Tinto percentage interest shown above is at 31
December 2016. The data represent full production and
sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2015 2016 2016 2016 2016 2015 2016
COPPER & GOLD
Escondida 30.0%
Chile
Sulphide ore to concentrator ('000 tonnes) 18,076 21,188 22,905 20,787 19,866 85,186 84,746
Average copper grade (%) 0.99 0.99 0.94 0.87 1.02 1.21 0.96
Mill production (metals in concentrates):
Contained copper ('000 tonnes) 138.6 175.8 181.7 153.2 168.6 828.5 679.3
Contained gold ('000 ounces) 18 31 36 28 38 89 133
Contained silver ('000 ounces) 962 1,544 1,874 1,229 1,323 4,812 5,971
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 81.8 88.8 77.4 88.9 76.4 320.3 331.4
Refined production from leach plants:
Copper cathode production ('000 tonnes) 88.7 84.8 85.3 70.5 71.5 326.3 312.1
(a) The calculation of copper in material mined for leaching is based on ore stacked at the leach pad.
Freeport-McMoRan Copper & Gold
Grasberg mine (a) 0.0% (b)
Papua, Indonesia
Ore treated ('000 tonnes) 14,248 14,249 14,141 16,608 18,446 59,322 63,445
Average mill head grades:
Copper (%) 0.75 0.69 0.84 1.02 1.29 0.67 0.98
Gold (g/t) 0.92 0.53 0.48 0.69 1.32 0.79 0.79
Silver (g/t) 2.92 2.23 2.88 3.45 3.45 2.50 3.05
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 94.5 85.8 106.5 153.8 223.0 353.3 569.2
Gold in concentrates ('000 ounces) 355 196 179 310 651 1,270 1,336
Silver in concentrates ('000 ounces) 778 613 776 1,170 1,247 2,818 3,805
Sales of payable metals in concentrates: (c)
Copper in concentrates ('000 tonnes) 88.7 86.9 96.8 153.7 206.2 337.8 543.6
Gold in concentrates ('000 ounces) 332 207 166 307 601 1,224 1,282
Silver in concentrates ('000 ounces) 567 510 562 928 920 2,134 2,921
(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 4Q 2016 results show the forecast from FCX's most recent five-year plan, because FCX is not releasing its actual 100% operating data for 4Q 2016 until the release of its 2016 fourth-quarter results on 25 January 2017.
(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 31 December 2016. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2015 2016 2016 2016 2016 2015 2016
COPPER & GOLD (continued)
Rio Tinto Kennecott
Bingham Canyon mine 100.0%
Utah, US
Ore treated ('000 tonnes) 8,224 7,386 7,512 9,698 8,827 34,831 33,423
Average ore grade:
Copper (%) 0.35 0.51 0.55 0.41 0.56 0.30 0.50
Gold (g/t) 0.15 0.19 0.18 0.25 0.31 0.18 0.24
Silver (g/t) 1.45 1.85 1.70 2.56 3.33 1.95 2.41
Molybdenum (%) 0.023 0.015 0.023 0.031 0.040 0.037 0.028
Copper concentrates produced ('000 tonnes) 136 153 152 154 190 470 648
Average concentrate grade (% Cu) 18.8 22.4 24.5 23.4 23.8 19.5 23.5
Production of metals in copper concentrates:
Copper ('000 tonnes) (a) 25.7 34.2 37.2 36.2 45.1 92.0 152.7
Gold ('000 ounces) 26 26 28 41 57 131 153
Silver ('000 ounces)
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