REG - Rio Tinto - Rio Tinto fourth quarter production results <Origin Href="QuoteRef">RIO.L</Origin> - Part 2
16/01/2018 07:05
- Part 2: For the preceding part double click ID:nRSP9453Ba
1,362 1,559 4,899 5,053
IOC Pellets 1,764 1,415 1,489 1,590 1,615 5,862 6,108
IOC Iron ore sales ('000 tonnes) 2,912 2,608 2,428 2,952 3,173 10,761 11,161
Rio Tinto iron ore sales ('000 tonnes) 75,350 65,806 66,428 72,944 78,016 279,613 283,195
Rio Tinto share of production
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
interest 2016 2017 2017 2017 2017 2016 2017
MOLYBDENUM
Mine production ('000 tonnes) (b)
Bingham Canyon 100% 1.8 0.9 0.8 1.4 1.9 2.8 5.0
SALT
Production ('000 tonnes)
Dampier Salt 68% 1,386 852 1,476 1,227 1,535 5,180 5,090
SILVER
Mine production ('000 ounces) (b)
Bingham Canyon 100% 751 711 669 357 418 1,943 2,156
Escondida 30% 397 163 370 521 658 1,791 1,712
Grasberg - Joint Venture (f) 40% 0 0 0 0 0 0 0
Oyu Tolgoi (g) 34% 91 72 79 80 96 476 326
Rio Tinto total mine production 1,239 946 1,118 959 1,172 4,210 4,194
Refined production ('000 ounces)
Rio Tinto Kennecott 100% 465 402 729 731 516 1,815 2,378
TITANIUM DIOXIDE SLAG
Production ('000 tonnes)
Rio Tinto Iron & Titanium (i) 100% 300 332 316 327 341 1,048 1,315
URANIUM
Production ('000 lbs U3O8) (j)
Energy Resources of Australia 68% 908 900 678 962 919 3,544 3,458
Rössing 69% 781 673 860 757 902 2,798 3,192
Rio Tinto total uranium production 1,690 1,573 1,538 1,718 1,821 6,342 6,650
Production data notes:
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 10 January 2018, Rio Tinto announced a binding
offer to sell its 100% interest in the Dunkerque
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) On 1 September 2017, Rio Tinto completed the sale of
Coal & Allied, a wholly owned subsidiary of Rio Tinto
Coal Australia (RTCA) and production from these assets
is included to this date. This included Coal & Allied's
67.6% interest in the Hunter Valley Operations mine, 80%
interest in the Mount Thorley mine and 55.6% interest in
the Warkworth mine. In an earlier restructuring of the
Coal & Allied group completed on 3 February 2016, Rio
Tinto had obtained 100% of Coal & Allied and retained a
67.6% interest in the newly created Hunter Valley
Operations joint venture. Prior to restructuring, Rio
Tinto's interest in the Hunter Valley Operations, Mount
Thorley and Warkworth mines was 80%, 64% and 44.46%
respectively.
(f) 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.
(g) Rio Tinto owns a 33.52% indirect interest in Oyu
Tolgoi through its 50.79% interest in Turquoise Hill
Resources Ltd.
(h) Includes 100% of production from Paraburdoo, Mt Tom
Price, 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.
(i) Quantities comprise 100% of Rio Tinto Fer et Titane
and Rio Tinto's 74% interest in Richards Bay Minerals
(RBM).
(j) ERA and Rössing production reported are drummed
U3O8.
The Rio Tinto percentage shown above is at 31 December
2017.
Rio Tinto's interest in the Lochaber aluminium smelter
and Bengalla mine were sold in 2016. No data for these
operations are included in the Share of production
table.
Rio Tinto operational data
Rio Tinto Q4 Q1 Q2 Q3 Q4 Full Year Full Year
interest 2016 2017 2017 2017 2017 2016 2017
ALUMINA
Smelter Grade Alumina - Aluminium Group
Alumina production ('000 tonnes)
Australia
Queensland Alumina Refinery - Queensland 80.0% 987 924 946 900 966 3,848 3,735
Yarwun refinery - Queensland 100.0% 821 819 778 790 816 3,176 3,203
Brazil
São Luis (Alumar) refinery 10.0% 957 895 931 937 934 3,707 3,697
Canada
Jonquière (Vaudreuil) refinery - Quebec (a) 100.0% 367 367 365 351 365 1,452 1,448
(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% 31 31 32 30 29 115 122
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full 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
interest 2016 2017 2017 2017 2017 2016 2017
ALUMINIUM
Primary Aluminium
Primary aluminium production ('000 tonnes)
Australia
Bell Bay smelter - Tasmania 100.0% 47 45 47 48 47 182 187
Boyne Island smelter - Queensland 59.4% 147 135 124 125 124 583 508
Tomago smelter - New South Wales 51.6% 149 145 147 149 149 589 590
Canada
Alma smelter - Quebec 100.0% 117 114 112 115 116 467 457
Alouette (Sept-Îles) smelter - Quebec 40.0% 153 149 149 150 150 609 598
Arvida smelter - Quebec 100.0% 43 41 43 43 44 172 171
Arvida AP60 smelter - Quebec 100.0% 15 15 15 14 14 60 57
Bécancour smelter - Quebec 25.1% 110 112 106 113 108 445 438
Grande-Baie smelter - Quebec 100.0% 58 57 57 58 58 227 229
Kitimat smelter - British Columbia 100.0% 109 107 109 108 110 408 433
Laterrière smelter - Quebec 100.0% 63 61 61 63 64 247 249
France
Dunkerque smelter (a) 100.0% 71 70 71 71 72 280 284
Iceland
ISAL (Reykjavik) smelter 100.0% 52 52 53 53 54 205 212
New Zealand
Tiwai Point smelter 79.4% 85 84 84 84 85 339 337
Oman
Sohar smelter 20.0% 97 96 95 35 27 386 253
United Kingdom
Lochaber smelter (b) 0.0% 10 - - - - 46 -
(a) On 10 January 2018, Rio Tinto announced a binding offer to sell its 100% interest in the Dunkerque smelter.
(b) 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 2017. The data represent full 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
interest 2016 2017 2017 2017 2017 2016 2017
BAUXITE
Bauxite production ('000 tonnes)
Australia
Gove mine - Northern Territory 100.0% 2,169 2,388 2,780 2,809 3,224 9,091 11,201
Weipa mine - Queensland 100.0% 7,700 6,893 7,805 7,895 8,304 29,427 30,898
Brazil
Porto Trombetas (MRN) mine 12.0% 4,296 2,974 4,071 4,103 3,550 16,462 14,698
Guinea
Sangaredi mine (a) 23.0% 3,856 3,699 3,979 3,711 4,020 16,023 15,409
Rio Tinto share of bauxite shipments
Share of total bauxite shipments ('000 tonnes) 11,996 11,605 12,164 12,913 13,557 47,575 50,240
Share of third party bauxite shipments ('000 tonnes) 7,345 6,927 7,962 8,250 9,164 29,308 32,303
(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 2017. The data represent full 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
interest 2016 2017 2017 2017 2017 2016 2017
BORATES
Rio Tinto Borates - borates 100.0%
US
Borates ('000 tonnes) (a) 121 123 133 140 120 503 517
(a) Production is expressed as B2O3 content.
COAL
Rio Tinto Coal Australia
Bengalla mine (a) 0.0%
New South Wales
Thermal coal ('000 tonnes) - - - - - 1,476 -
Hail Creek Coal mine 82.0%
Queensland
Hard coking coal ('000 tonnes) 1,470 1,134 1,002 1,556 1,555 5,950 5,247
Thermal coal ('000 tonnes) 910 1,065 1,074 1,037 958 3,767 4,134
Hunter Valley Operations (b) 0.0%
New South Wales
Semi-soft coking coal ('000 tonnes) 859 800 284 445 - 3,720 1,529
Thermal coal ('000 tonnes) 2,550 2,851 3,539 2,112 - 9,925 8,502
Kestrel Coal mine 80.0%
Queensland
Hard coking coal ('000 tonnes) 1,227 816 916 1,210 1,309 4,077 4,252
Thermal coal ('000 tonnes) 271 159 177 282 226 846 843
Mount Thorley Operations (b) 0.0%
New South Wales
Semi-soft coking coal ('000 tonnes) 353 337 389 149 - 1,420 876
Thermal coal ('000 tonnes) 1,035 562 746 703 - 2,850 2,011
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full 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
interest 2016 2017 2017 2017 2017 2016 2017
COAL (continued)
Warkworth mine (b) 0.0%
New South Wales
Semi-soft coking coal ('000 tonnes) 190 268 202 44 - 809 514
Thermal coal ('000 tonnes) 1,330 1,520 1,696 1,305 - 7,225 4,521
Total hard coking coal production ('000 tonnes) 2,697 1,950 1,918 2,766 2,864 10,027 9,499
Total semi-soft coking coal production ('000 tonnes) 1,402 1,405 875 639 - 5,950 2,919
Total thermal coal production ('000 tonnes) 6,096 6,156 7,232 5,439 1,183 26,090 20,010
Total coal production ('000 tonnes) 10,196 9,512 10,026 8,844 4,047 42,067 32,429
Total coal sales ('000 tonnes) 10,241 8,792 9,871 9,298 4,092 41,773 32,053
Rio Tinto Coal Australia share (c)
Share of hard coking coal sales ('000 tonnes) 2,395 1,524 1,717 2,511 2,429 8,704 8,181
Share of semi-soft coal sales ('000 tonnes) (d) 1,043 765 759 485 - 4,144 2,010
Share of thermal coal sales ('000 tonnes) (d) 3,979 3,946 4,539 3,804 896 16,484 13,186
(a) Rio Tinto sold its interest in the Bengalla Joint
Venture with an effective date of 1 March 2016.
(b) On 1 September 2017, Rio Tinto completed the sale of
Coal & Allied, a wholly owned subsidiary of Rio Tinto
Coal Australia (RTCA) and production from these assets
is included to this date. This included Coal & Allied's
67.6% interest in the Hunter Valley Operations mine, 80%
interest in the Mount Thorley mine and 55.6% interest in
the Warkworth mine. In an earlier restructuring of the
Coal & Allied group completed on 3 February 2016, Rio
Tinto had obtained 100% of Coal & Allied and retained a
67.6% interest in the newly created Hunter Valley
Operations joint venture. Prior to restructuring, Rio
Tinto's interest in the Hunter Valley Operations, Mount
Thorley and Warkworth mines was 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 2017. The data represent full 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
interest 2016 2017 2017 2017 2017 2016 2017
COPPER & GOLD
Escondida 30.0%
Chile
Sulphide ore to concentrator ('000 tonnes) 19,866 8,054 18,777 24,080 30,260 84,746 81,171
Average copper grade (%) 1.02 1.01 1.07 1.06 0.98 0.96 1.03
Mill production (metals in concentrates):
Contained copper ('000 tonnes) 168.6 67.7 167.0 204.1 245.7 679.3 684.5
Contained gold ('000 ounces) 38 11 34 51 50 133 146
Contained silver ('000 ounces) 1,323 543 1,234 1,737 2,193 5,971 5,707
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 76.4 22.8 60.7 70.8 63.9 331.4 218.2
Refined production from leach plants:
Copper cathode production ('000 tonnes) 71.5 27.2 62.8 71.9 76.1 312.1 238.0
(a) The calculation of copper in material mined for leaching is based on ore stacked at the leach pad.
Freeport-McMoRan
Grasberg mine (a) 0.0% (b)
Papua, Indonesia
Ore treated ('000 tonnes) 15,630 7,849 11,242 15,791 18,736 60,628 53,617
Average mill head grades:
Copper (%) 1.08 1.15 1.03 0.91 1.05 0.91 1.02
Gold (g/t) 0.97 1.17 1.16 0.98 1.23 0.68 1.13
Silver (g/t) 3.67 5.26 4.09 3.96 2.79 3.09 3.77
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 153.1 81.0 103.9 130.1 180.3 499.4 495.4
Gold in concentrates ('000 ounces) 409 248 358 417 631 1,094 1,654
Silver in concentrates ('000 ounces) 1,237 667 900 1,016 1,023 3,796 3,606
Sales of payable metals in concentrates: (c)
Copper in concentrates ('000 tonnes) 140.6 61.7 124.6 109.6 183.7 478.0 479.6
Gold in concentrates ('000 ounces) 374 183 429 343 646 1,054 1,602
Silver in concentrates ('000 ounces) 907 404 851 666 873 2,909 2,794
(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 Q4 2017 results show the forecast from FCX's most recent five-year plan, because FCX is not releasing its actual 100% operating data for Q4 2017 until the release of its 2017 fourth-quarter results on 25 January 2018.
(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 2017. The data represent full 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
interest 2016 2017 2017 2017 2017 2016 2017
COPPER & GOLD (continued)
Rio Tinto Kennecott
Bingham Canyon mine 100.0%
Utah, US
Ore treated ('000 tonnes) 8,827 9,508 10,709 10,092 9,074 33,423 39,382
Average ore grade:
Copper (%) 0.56 0.51 0.47 0.29 0.43 0.50 0.43
Gold (g/t) 0.31 0.32 0.29 0.18 0.21 0.24 0.25
Silver (g/t) 3.33 3.24 2.66 1.51 1.89 2.41 2.33
Molybdenum (%) 0.040 0.025 0.025 0.032 0.036 0.028 0.029
Copper concentrates produced ('000 tonnes) 190 189 205 148 162 648 704
Average concentrate grade (% Cu) 23.8 23.3 21.5 17.3 21.5 23.5 21.1
Production of metals in copper concentrates:
Copper ('000 tonnes) (a) 45.1 44.3 44.0 25.8 34.8 152.7 148.9
Gold ('000 ounces) 57 54 54 34 36 153 178
Silver ('000 ounces) 751 711 669 357 418 1,943 2,156
Molybdenum concentrates produced ('000 tonnes): 3.4 1.7 1.5 2.8 3.8 5.6 9.8
Molybdenum in concentrates ('000 tonnes) 1.8 0.9 0.8 1.4 1.9 2.8 5.0
Kennecott smelter & refinery 100.0%
Copper concentrates smelted ('000 tonnes) 207 136 160 258 90 752 644
Copper anodes produced ('000 tonnes) (b) 42.7 33.7 32.6 50.6 12.1 163.8 129.0
Production of refined metal:
Copper ('000 tonnes)
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