REG - Rio Tinto - Rio Tinto fourth quarter production results <Origin Href="QuoteRef">RIO.L</Origin>
RNS Number : 9453BRio Tinto PLC15 January 2018Rio Tinto releases fourth quarter production results
16 January 2018
Rio Tinto chief executive J-S Jacques said "The business performed well in the fourth quarter, and we finished the year in line with guidance across all major products. We shipped 90 million tonnes of iron ore from our world-class Pilbara assets, a record quarter which demonstrates the system's growing flexibility. In 2017 we announced over $8 billion of cash returns to shareholders and continued to reshape the portfolio. Our focus on value over volume and mine-to-market productivity, along with disciplined allocation of cash, will ensure that we continue to deliver superior shareholder returns in the short, medium and the long term."
Q4 2017
vs Q4 2016
vs Q3 2017
2017
2016
Pilbara iron ore shipments (100% basis)
Mt
90.0
+3%
+5%
330.1
+1%
Pilbara iron ore production (100% basis)
Mt
87.9
+3%
+3%
329.8
+0%
Bauxite
kt
13,762
+14%
+7%
50,796
+6%
Aluminium
kt
887
-3%
+0%
3,551
-1%
Mined copper
kt
148.6
+11%
+23%
478.1
-9%
Hard coking coal
kt
2,322
+6%
+3%
7,704
-5%
Titanium dioxide slag
kt
341
+14%
+4%
1,315
+25%
IOC iron ore pellets and concentrate
Mt
2.7
-0%
-14%
11.2
+5%
Key points
Pilbara iron ore shipments of 90.0 million tonnes in the fourth quarter were three per cent higher than the fourth quarter of 2016. Total shipments for 2017 of 330.1 million tonnes were in line with guidance.
Bauxite production of 50.8 million tonnes was six per cent higher than 2016 and in line with upwardly revised full year guidance. Third party shipments increased by ten per cent to 32.3 million tonnes.
Aluminium production of 3.6 million tonnes was in line with guidance with generally strong performance slightly offset by lower production at Boyne and Sohar.
Mined copper production of 478.1 thousand tonnes was nine per cent lower than 2016 due primarily to the impact of a 43 day strike at Escondida in the first quarter. Production was in line with revised guidance.
Titanium dioxide slag production of 1.3 million tonnes was 25 per cent higher than 2016, reflecting increased market demand, with strengthening pigment prices supported by low inventory and tight supply.
Production and shipment guidance for 2018 remains unchanged from the estimates provided at the investor seminar held on 4 December 2017.
The major growth projects remain on track. The Silvergrass iron ore mine was commissioned in the fourth quarter of 2017 and will continue to ramp up in 2018. Amrun is on schedule for first bauxite shipment in the first half of 2019 and construction of the first drawbell at Oyu Tolgoi Underground is expected in mid-2020.
In November, Rio Tinto successfully completed an A$750 million off-market buy-back in Rio Tinto Limited shares and in December completed a $1.5 billion on-market buy-back of Rio Tinto plc shares. An additional $1.925 billion on-market buy-back in Rio Tinto plc shares commenced on 27 December 2017 and is to be completed no later than 31 December 2018.
On 10 January 2018, Rio Tinto announced it had received a binding offer for the sale of the Aluminium Dunkerque smelter in France for $500 million, subject to final adjustments. The sale is expected to complete in the second quarter of 2018, subject to satisfactory completion of consultations with key stakeholders.
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.To allow production numbers to be compared on a like-for-like basis, production from asset divestments completed in 2016 is excluded from Rio Tinto share of production data but assets sold in 2017 remain in comparisons.
IRON ORERio Tinto share of production (million tonnes)
Q4 2017
vs Q4 2016
vs Q3 2017
2017
vs 2016
Pilbara Blend Lump
21.1
+3%
+2%
80.8
+4%
Pilbara Blend Fines
31.2
+1%
+4%
116.4
-1%
Robe Valley Lump
1.6
+1%
+5%
6.1
+0%
Robe Valley Fines
2.9
+2%
+1%
10.4
-8%
Yandicoogina Fines (HIY)
16.1
+6%
+11%
57.7
-1%
Total Pilbara production
72.9
271.3
Total Pilbara production (100% basis)
87.9
329.8
Pilbara operations
Pilbara operations produced 329.8 million tonnes (Rio Tinto share 271.3 million tonnes) in 2017. Fourth quarter production of 87.9 million tonnes (Rio Tinto share 72.9 million tonnes) was three per cent higher than the fourth quarter of 2016, reflecting the implementation of productivity projects across most sites. This strong performance was achieved despite a planned two week shutdown at Hope Downs 4 in December 2017, in line with the focus on value over volume.
Sales of 330.1 million tonnes (Rio Tinto share 272.0 million tonnes) were in line with 2016 sales. Strong fourth quarter sales of 90.0 million tonnes (Rio Tinto share 74.8 million tonnes) were three per cent higher than the fourth quarter of 2016, reflecting ongoing productivity improvements being made to the rail network, along with increased flexibility across the infrastructure system.
Approximately 17 per cent of sales in 2017 were priced with 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 fixed on the spot market.
Approximately 67 per cent of 2017 sales were made on a cost and freight (CFR) basis, with the remainder sold free on board (FOB).
Achieved average pricing in 2017 was $59.6 per wet metric tonne on an FOB basis (equivalent to $64.8 per dry metric tonne).
Pilbara projects
Commissioning of the Silvergrass conveyor system is complete and the plant had processed around two million tonnes by the end of 2017. Production ramp-up will continue in 2018.
The automation of the Pilbara train system (AutoHaulTM) continues to make strong progress with greater than 60 per cent of all train kilometres now completed in autonomous mode with a driver on board for supervision. The project is on schedule to be completed by the end of 2018.
The Koodaideri project feasibility study was approved for $30.9 million in May 2017. The feasibility study will focus on obtaining necessary consent and permits and increasing orebody knowledge.
2018 guidance
Rio Tinto's Pilbara shipments in 2018 are expected to be between 330 and 340 million tonnes (100 per cent basis). This is subject to market conditions and any weather constraints, and partly reflects continued rail maintenance required in 2018.
ALUMINIUM
Rio Tinto share of production ('000 tonnes)
Q4 2017
vs Q4 2016
vs Q3 2017
2017
vs 2016
Rio Tinto Aluminium
Bauxite
13,762
+14%
+7%
50,796
+6%
Alumina
2,077
-1%
+5%
8,131
-1%
Aluminium
887
-3%
+0%
3,551
-1%
Production from Lochaber in 2016 has been excluded from the comparable percentages above.
Bauxite
Bauxite production of 50.8 million tonnes in 2017 was six per cent higher than 2016, reflecting strong operational performances at Gove and Weipa. Production at Gove was 23 per cent higher than 2016, benefitting from the planned production ramp-up associated with de-bottlenecking of capacity, whilst production at Weipa was five per cent higher than 2016. Fourth quarter production of 13.8 million tonnes was 14 per cent higher than the corresponding quarter of 2016.
The strong production performance enabled the Group to ship 32.3 million tonnes to third parties in 2017, ten per cent higher than 2016. Fourth quarter shipments were 25 per cent higher than the fourth quarter of 2016.
Amrun
The Amrun project is advancing to plan. All wharf modules are now installed and the process plant beneficiation modules and transfer tower are in location. Upcoming activities include completion of the stacker, reclaimer assembly and ship loader assembly. The project remains on schedule for first shipment in the first half of 2019.
Alumina
Alumina production for 2017 was in line with 2016, with a strong performance at Yarwun partially offset by lower production at the Queensland Alumina refinery due to major maintenance.
Aluminium
Aluminium production of 3.6 million tonnes in 2017 was one per cent lower than 2016. Strong operational performances were achieved across most sites, reflecting the implementation of productivity improvements across the business. This was offset by production curtailment at the Boyne smelter due to higher power prices in Queensland, and by lower production at the non-managed Sohar smelter due to a power interruption incident in the third quarter. Excluding these events, 2017 aluminium production was one per cent higher than 2016.
Average realised aluminium prices in 2017 were $2,231 per tonne. This includes a $221 per tonne premium for value-added product, which represented 57 per cent of aluminium sold, and the physical market premium.
On 10 January 2018, Rio Tinto announced it had received a binding offer for the sale of the Aluminium Dunkerque smelter in France for $500 million, subject to final adjustments. The sale is expected to complete in the second quarter of 2018, subject to satisfactory completion of consultations with key stakeholders.
2018 guidance
Rio Tinto's share of production in 2018 is expected to be between 49 and 51 million tonnes of bauxite, 8.0 to 8.2 million tonnes of alumina and 3.5 to 3.7 million tonnes of aluminium (guidance to be adjusted following completion of the sale of the Aluminium Dunkerque smelter).
COPPER & DIAMONDS
Rio Tinto share of production ('000 tonnes)
Q4 2017
vs Q4 2016
vs Q3 2017
2017
vs 2016
Mined copper
Rio Tinto Kennecott
34.8
-23%
+35%
148.9
-3%
Escondida
92.9
+26%
+13%
270.8
-11%
Grasberg
5.7
N/A
N/A
5.7
N/A
Oyu Tolgoi
15.2
-0%
+23%
52.8
-22%
Refined copper
Rio Tinto Kennecott
22.1
-67%
-59%
125.8
-20%
Escondida
22.8
+6%
+6%
71.4
-24%
Diamonds('000 carats)
Argyle
6,146
+71%
+29%
17,135
+23%
Diavik
1,060
+7%
-10%
4,492
+12%
Rio Tinto Kennecott
Mined copper production in 2017 was three per cent lower than 2016, with lower grades partially offset by higher mill throughput. Fourth quarter production was 23 per cent lower than the corresponding period of 2016 as mining entered an anticipated area of lower grade. Higher grade material is expected to be accessed in 2018.
Refined copper production in 2017 was 20 per cent lower than 2016 due to the shutdown of the smelter following the fatality in October 2017. The smelter resumed production in November 2017 and is expected to draw down the increase in concentrate inventory during the first half of 2018.
Rio Tinto Kennecott continues to toll and purchase third party concentrate, with 161.4 thousand tonnes received for processing in 2017. Tolled copper concentrate, which is smelted and returned to customers, is excluded from reported production figures.
The pushback of the south wall progressed during the quarter. It will extend the life of mine and remains on track for completion in 2020.
Escondida
Mined copper production at Escondida in 2017 was 11 per cent lower than 2016 due to the labour union strike that impacted production in the first half of 2017. Fourth quarter production was 26 per cent higher than the corresponding quarter of 2016 due to an increase in concentrator throughput, largely driven by commissioning of the Los Colorados concentrator.
Oyu Tolgoi
Mined copper production from the open pit in 2017 was 22 per cent lower than 2016, as phases 2 and 3, which were sources of higher grade ore, were fully depleted by the end of 2016. Despite this, the operation established new records for rates of total material moved and mill throughput in the year. Copper production in the fourth quarter was 23 per cent higher than the previous quarter due to improved mill availability and reduced ore hardness.
Oyu Tolgoi LLC has received, and is evaluating, a Tax Act (tax assessment) for approximately $155 million from the Mongolian Tax Authority relating to an audit on taxes imposed and paid by Oyu Tolgoi LLC between 2013 and 2015.
Oyu Tolgoi Underground Project
New contractors continue to mobilise with the total project workforce at over 6,600 at the end of 2017, 89 per cent of whom are Mongolian nationals. Lateral development is on plan, completion of Shaft 2 sinking is imminent and completion of Shaft 5 sinking is expected by the end of first quarter of 2018. Six accommodation buildings in the Oyut II camp are now complete. An annual project review was completed in the fourth quarter, and construction of the first drawbell is expected in mid-2020.
Grasberg
Through a joint venture agreement with Freeport-McMoRan Inc. ("Freeport"), Rio Tinto is entitled to the cash flow associated with 40 per cent of material mined above an agreed threshold as a consequence of expansions and developments of the Grasberg facilities since 1998.
In January and February 2017, the Indonesian government issued new mining regulations to address exports of unrefined metals, including copper concentrates, and other matters related to the mining sector. These regulations impact PT Freeport Indonesia's ("PT-FI") operating rights, including its right to continue to export concentrate without restriction, and, as a result, had a significant impact on Rio Tinto's share of production in 2017. Rio Tinto's full participation beyond 2021 is likely to be delayed due to the application of force majeure provisions in the joint venture agreement between Rio Tinto and PT-FI.
In March 2017, the Indonesian government amended the regulations and issued a permit to PT-FI that allowed concentrate exports to resume in April 2017. PT-FI is applying for an extension of its export permit, which expires in February 2018.
Based on the latest available forecast from Freeport, approximately 5.7 thousand tonnes of copper and no gold production in 2017 has been attributed to Rio Tinto. Freeport is expected to announce its fourth quarter and full year 2017 results on 25 January 2018. No share of production was attributed to Rio Tinto for the first three quarters of 2017, based on expected Rio Tinto share at the time.
Provisional pricing
At 31 December 2017, the Group had an estimated 250 million pounds of copper sales that were provisionally priced at 304 cents per pound. The final price of these sales will be determined during the first half of 2018. This compares with 235 million pounds of open shipments at 31 December 2016, provisionally priced at 250 cents per pound.
Diamonds
At Argyle, 2017 carat production was 23 per cent higher than 2016 due to the additional processing of higher grade alluvial tailings.
At Diavik, carats recovered in 2017 were 12 per cent higher than 2016 due to higher recovered grades. Development of the A21 pipe remains on schedule.
2018 guidance
Rio Tinto's expected share of mined copper production for 2018 is expected to be between 510 and 610 thousand tonnes. Refined copper production is expected to be between 225 to 265 thousand tonnes.
Diamond production guidance for 2018 is between 17 and 20 million carats.
ENERGY & MINERALS
Rio Tinto share of production
Q4 2017
vs Q4 2016
vs Q3 2017
2017
vs 2016
Coal
Hard coking coal
2,322
+6%
+3%
7,704
-5%
Semi-soft coking coal (a)
0
-100%
-100%
2,020
-51%
Thermal coal (a)
966
-77%
-75%
13,933
-17%
Iron ore pellets and concentrate (million tonnes)
IOC
2.7
-0%
-14%
11.2
+5%
Minerals ('000 tonnes)
Borates - B2O3 content
120
-1%
-14%
517
+3%
Salt
1,535
+11%
+25%
5,090
-2%
Titanium dioxide slag
341
+14%
+4%
1,315
+25%
Uranium ('000 lbs)
Energy Resources of Australia
919
+1%
-4%
3,458
-2%
Rssing
902
+15%
+19%
3,192
+14%
Production from Bengalla in 2016 has been excluded from the comparable percentages above.
(a) On 1 September 2017, Rio Tinto completed the sale of Coal & Allied. 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. Production from these mines until 1 September 2017 is reported here.
Coal
Hard coking coal production in 2017 was five per cent lower than 2016 due to the impact of Cyclone Debbie in the first quarter of 2017. Fourth quarter production was six per cent higher than the corresponding quarter of 2016 reflecting strong operational performances at Kestrel and Hail Creek.
As announced on 1 September 2017, Rio Tinto completed the sale of Coal & Allied to Yancoal Australia for total consideration of $2.69 billion, which included Coal & Allied's interests in the Hunter Valley Operations, Mount Thorley and Warkworth mines. The sale, coupled with mine production sequencing changes at Hunter Valley Operations and Mount Thorley Warkworth, resulted in semi-soft coking coal and thermal coal production being lower than 2016 by 51 per cent and 17 per cent respectively.
Hard coking coal prices achieved in the second half of 2017 averaged $164 per tonne on an FOB basis compared to $177 per tonne in the first half of 2017. Average prices realised for thermal coal were $78 per tonne on an FOB basis in both the first half and second half of 2017.
Iron Ore Company of Canada (IOC)
IOC pellet production of 10.5 million tonnes (Rio Tinto share 6.1 million tonnes) was seven per cent higher than 2016, with pellet demand continuing to be strong and product mix being optimised to meet customer demand. Concentrate production for sale of 8.5 million tonnes (Rio Tinto share 5.0 million tonnes) was two per cent higher than 2016.
The five per cent improvement in total production resulted in a four per cent improvement in sales to 19.0 million tonnes (Rio Tinto share 11.2 million tonnes).
Borates
Borates production in 2017 was three per cent higher than 2016, with production aligned to market demand.
Iron and Titanium (RTIT)
Titanium dioxide slag production was 25 per cent higher in 2017, reflecting improved market demand. Market conditions for titanium dioxide continued to improve in 2017, with strengthening pigment prices supported by low inventory and tight supply. Consequently, feedstock demand has improved year-on-year.
One of nine furnaces at Rio Tinto Fer et Titane (RTFT) remains idle, along with one of four furnaces at Richards Bay Minerals. The focus remains on maximising the productivity of the furnaces currently in operation, and a decision to re-start idle furnaces will be based on maximising value over volume.
Salt
Salt production in 2017 was marginally lower than 2016. Fourth quarter production was 11 per cent higher than the corresponding period of 2016 as the business responded to improved market demand.
Uranium
Energy Resources of Australia continues to process existing stockpiles. 2017 production was two per cent lower than 2016.
Production at Rssing in 2017 was 14 per cent higher than 2016 due to higher grades.
2018 guidance
Guidance for Rio Tinto's expected share of 2018 production is 7.5 to 8.5 million tonnes of hard coking coal, 3.8 to 4.5 million tonnes of thermal coal, 11.5 to 12.5 million tonnes of iron ore pellets and concentrates, 0.5 million tonnes of boric oxide equivalent production, 1.2 to 1.4 million tonnes of titanium dioxide slag, and 6.2 to 7.2 million pounds of uranium.
EXPLORATION AND EVALUATION
Pre-tax and pre-divestment expenditure on exploration and evaluation charged to the profit and loss account in 2017 was $445 million (of which $147 million was spent in the fourth quarter), compared with $497 million in 2016. Approximately 46 per cent of this expenditure was incurred by central exploration, 34 per cent by Copper & Diamonds, ten per cent by Energy & Minerals and the remainder by Iron Ore and Aluminium.
There were no significant divestments of central exploration properties in 2017.
Exploration highlights
Rio Tinto has a strong portfolio of projects with activity in 16 countries across some eight commodities. The bulk of the exploration expenditure in this quarter was focused on copper targets in Australia, Chile, Kazakhstan, Mongolia, Papua New Guinea, Peru, Serbia, United States and Zambia. Mine-lease exploration continued at a number of Rio Tinto managed businesses including Pilbara Iron, Richards Bay Minerals, Oyu Tolgoi and Weipa.
A summary of activity for the quarter is as follows:
Product Group
Evaluation
projects
Advanced
projects
Greenfield
programmes
Aluminium
Cape York, Australia
Amargosa, Brazil
Australia, Laos
Copper & Diamonds
Copper/molybdenum: Resolution, US
Copper: La Granja, Peru
Copper/gold: Oyu Tolgoi, Mongolia
Nickel: Tamarack, US
Diamonds: Fort a la Corne, Canada
Copper: Australia, Botswana, Chile, China, Kazakhstan, Mongolia, Namibia, Papua New Guinea, Peru, Serbia, US, Zambia
Nickel: Australia, Canada
Diamonds: Canada
Energy & Minerals
Lithium borates: Jadar, Serbia
Heavy mineral sands: Mutamba, Mozambique and Zulti South, South Africa
Iron Ore: Simandou, Guinea
Uranium: Roughrider, Canada
Potash: KP405, Canada
Uranium: Canada
Heavy mineral sands: Tanzania
Iron Ore
Pilbara, Australia
Pilbara, Australia
Forward-looking statements
This announcement may include "forward-looking statements" within the meaning of the US 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 production forecast or guidance, financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto's products and reserve and resource positions), are forward-looking statements. The words "intend", "aim", "project", "anticipate", "estimate", "plan", "believes", "expects", "may", "should", "will", "target", "set to", "assumes" 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 production, performance or results of Rio Tinto to be materially different from any future production, performance or results expressed or implied by such forward-looking statements. Such forward-looking statements could be influenced by such risk factors as 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. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. 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 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.
Classification
This announcement has been released in accordance with the Listing Rules of the Australian Securities Exchange and has been voluntarily released to the London Stock Exchange.
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Rio Tinto production summary
Rio Tinto share of production
Quarter
Full Year
% Change
2016
Q42017
Q32017
Q4
2016
2017
Q4 17
vs
Q4 16Q4 17
vs
Q3 172017
vs
2016Principal Commodities
Alumina
('000 t)
2,104
1,984
2,077
8,192
8,131
-1%
5%
-1%
Aluminium
('000 t)
915
887
887
3,600
3,551
-3%
0%
-1%
Bauxite
('000 t)
12,120
12,867
13,762
47,703
50,796
14%
7%
6%
Borates
('000 t)
121
140
120
503
517
-1%
-14%
3%
Coal - hard coking
('000 t)
2,187
2,244
2,322
8,141
7,704
6%
3%
-5%
Coal - semi-soft coking
('000 t)
969
445
-
4,102
2,020
-100%
-100%
-51%
Coal - thermal
('000 t)
4,254
3,791
966
16,727
13,933
-77%
-75%
-17%
Copper - mined
('000 t)
133.8
120.6
148.6
523.3
478.1
11%
23%
-9%
Copper - refined
('000 t)
88.4
75.2
44.9
250.1
197.2
-49%
-40%
-21%
Diamonds
('000 cts)
4,574
5,933
7,207
17,953
21,627
58%
21%
20%
Iron Ore
('000 t)
73,633
72,903
75,656
281,321
282,484
3%
4%
0%
Titanium dioxide slag
('000 t)
300
327
341
1,048
1,315
14%
4%
25%
Uranium
('000 lbs)
1,690
1,718
1,821
6,342
6,650
8%
6%
5%
Other Metals & Minerals
Gold - mined
('000 oz)
85.1
59.1
62.6
293.5
260.1
-26%
6%
-11%
Gold - refined
('000 oz)
40.6
54.1
55.4
135.4
203.7
37%
2%
50%
Molybdenum
('000 t)
1.8
1.4
1.9
2.8
5.0
10%
37%
75%
Salt
('000 t)
1,386
1,227
1,535
5,180
5,090
11%
25%
-2%
Silver - mined
('000 oz)
1,239
959
1,172
4,210
4,194
-5%
22%
0%
Silver - refined
('000 oz)
465
731
516
1,815
2,378
11%
-29%
31%
Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page. 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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
2017
ALUMINA
Production ('000 tonnes)
Jonquire (Vaudreuil)
100%
367
367
365
351
365
1,452
1,448
Jonquire (Vaudreuil) specialty Alumina plant
100%
31
31
32
30
29
115
122
Queensland Alumina
80%
789
739
756
720
773
3,078
2,988
So Luis (Alumar)
10%
96
89
93
94
93
371
370
Yarwun
100%
821
819
778
790
816
3,176
3,203
Rio Tinto total alumina production
2,104
2,047
2,024
1,984
2,077
8,192
8,131
ALUMINIUM
Production ('000 tonnes)
Australia - Bell Bay
100%
47
45
47
48
47
182
187
Australia - Boyne Island
59%
87
80
73
74
74
346
302
Australia - Tomago
52%
77
75
76
77
77
304
304
Canada - six wholly owned
100%
405
394
397
401
405
1,582
1,596
Canada - Alouette (Sept-les)
40%
61
60
60
60
60
244
239
Canada - Bcancour
25%
28
28
26
28
27
111
110
France - Dunkerque (a)
100%
71
70
71
71
72
280
284
Iceland - ISAL (Reykjavik)
100%
52
52
53
53
54
205
212
New Zealand - Tiwai Point
79%
68
66
67
67
67
269
267
Oman - Sohar
20%
19
19
19
7
5
77
51
Rio Tinto total aluminium production
915
889
888
887
887
3,600
3,551
BAUXITE
Production ('000 tonnes) (b)
Gove
100%
2,169
2,388
2,780
2,809
3,224
9,091
11,201
Porto Trombetas
12%
516
357
489
492
426
1,975
1,764
Sangaredi
(c)
1,735
1,665
1,791
1,670
1,809
7,210
6,934
Weipa
100%
7,700
6,893
7,805
7,895
8,304
29,427
30,898
Rio Tinto total bauxite production
12,120
11,303
12,865
12,867
13,762
47,703
50,796
Rio Tinto share of production
Rio Tinto
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
2017
BORATES
Production ('000 tonnes B2O3 content)
Rio Tinto Borates - borates
100%
121
123
133
140
120
503
517
COAL - hard coking
Rio Tinto Coal Australia ('000 tonnes)
Hail Creek Coal (d)
82%
1,205
930
822
1,276
1,275
4,879
4,303
Kestrel Coal (d)
80%
981
653
733
968
1,048
3,262
3,402
Rio Tinto total hard coking coal production
2,187
1,583
1,555
2,244
2,322
8,141
7,704
COAL - semi-soft coking
Rio Tinto Coal Australia ('000 tonnes)
Hunter Valley (e)
0%
581
541
192
301
-
2,540
1,034
Mount Thorley (e)
0%
283
269
311
119
-
1,127
700
Warkworth (e)
0%
106
149
112
25
-
436
286
Rio Tinto total semi-soft coking coal production
969
959
616
445
-
4,102
2,020
COAL - thermal
Rio Tinto Coal Australia ('000 tonnes)
Hail Creek Coal (d)
82%
746
874
881
851
785
3,089
3,390
Hunter Valley (e)
0%
1,724
1,927
2,393
1,428
-
6,782
5,747
Kestrel Coal (d)
80%
217
127
141
226
180
676
674
Mount Thorley (e)
0%
828
450
597
562
-
2,235
1,609
Warkworth (e)
0%
739
845
943
725
-
3,945
2,512
Rio Tinto total thermal coal production
4,254
4,222
4,954
3,791
966
16,727
13,933
Rio Tinto share of production
Rio Tinto
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
2017
COPPER
Mine production ('000 tonnes) (b)
Bingham Canyon
100%
45.1
44.3
44.0
25.8
34.8
152.7
148.9
Escondida
30%
73.4
27.2
68.3
82.5
92.9
303.1
270.8
Grasberg - Joint Venture (f)
40%
0.0
0.0
0.0
0.0
5.7
0.0
5.7
Oyu Tolgoi (g)
34%
15.2
12.8
12.5
12.4
15.2
67.5
52.8
Rio Tinto total mine production
133.8
84.2
124.7
120.6
148.6
523.3
478.1
Refined production ('000 tonnes)
Escondida
30%
21.5
8.2
18.8
21.6
22.8
93.6
71.4
Rio Tinto Kennecott
100%
67.0
29.8
20.3
53.6
22.1
156.5
125.8
Rio Tinto total refined production
88.4
38.0
39.1
75.2
44.9
250.1
197.2
DIAMONDS
Production ('000 carats)
Argyle
100%
3,584
3,016
3,216
4,757
6,146
13,958
17,135
Diavik
60%
989
1,136
1,119
1,177
1,060
3,995
4,492
Rio Tinto total diamond production
4,574
4,152
4,335
5,933
7,207
17,953
21,627
GOLD
Mine production ('000 ounces) (b)
Bingham Canyon
100%
57.2
54.1
54.3
33.6
35.9
153.2
177.9
Escondida
30%
11.3
3.4
10.2
15.2
15.1
39.8
43.9
Grasberg - Joint Venture (f)
40%
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Oyu Tolgoi (g)
34%
16.6
8.3
8.0
10.4
11.7
100.5
38.3
Rio Tinto total mine production
85.1
65.8
72.5
59.1
62.6
293.5
260.1
Refined production ('000 ounces)
Rio Tinto Kennecott
100%
40.6
51.1
43.0
54.1
55.4
135.4
203.7
Rio Tinto share of production
Rio Tinto
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
2017
IRON ORE
Production ('000 tonnes) (b)
Hamersley mines
(h)
54,848
48,664
48,674
52,921
56,501
205,902
206,760
Hamersley - Channar
60%
1,119
1,635
1,903
1,596
1,345
5,839
6,479
Hope Downs
50%
5,794
5,218
6,287
5,978
5,987
23,505
23,470
Iron Ore Company of Canada
59%
2,743
2,579
2,683
3,171
2,733
10,661
11,166
Robe River - Pannawonica (Mesas J and A)
53%
4,493
3,809
3,676
4,461
4,580
17,371
16,526
Robe River - West Angelas
53%
4,636
4,322
4,475
4,776
4,509
18,044
18,082
Rio Tinto iron ore production ('000 tonnes)
73,633
66,226
67,699
72,903
75,656
281,321
282,484
Breakdown of Production:
Pilbara Blend Lump
20,443
19,207
19,780
20,700
21,082
77,761
80,770
Pilbara Blend Fines
30,795
27,026
28,049
30,113
31,172
117,560
116,359
Robe Valley Lump
1,625
1,453
1,459
1,570
1,646
6,122
6,128
Robe Valley Fines
2,868
2,357
2,217
2,891
2,934
11,250
10,398
Yandicoogina Fines (HIY)
15,159
13,605
13,512
14,458
16,088
57,968
57,663
Pilbara iron ore production ('000 tonnes)
70,890
63,647
65,016
69,732
72,922
270,660
271,318
IOC Concentrate
1,124
1,109
1,299
1,450
1,163
4,907
5,020
IOC Pellets
1,618
1,470
1,384
1,722
1,571
5,754
6,146
IOC iron ore production ('000 tonnes)
2,743
2,579
2,683
3,171
2,733
10,661
11,166
Breakdown of Sales:
Pilbara Blend Lump
18,071
16,033
18,218
18,044
18,861
67,929
71,156
Pilbara Blend Fines
34,842
30,497
28,779
32,421
35,575
126,521
127,272
Robe Valley Lump
1,502
1,176
1,262
1,391
1,388
5,397
5,217
Robe Valley Fines
3,053
2,373
2,370
3,174
3,287
11,942
11,204
Yandicoogina Fines (HIY)
14,969
13,120
13,371
14,963
15,731
57,062
57,185
Pilbara iron ore sales ('000 tonnes)
72,437
63,199
64,000
69,993
74,843
268,851
272,034
IOC Concentrate
1,148
1,193
939
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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
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
Rssing
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 dor 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 Rssing 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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
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
So Luis (Alumar) refinery
10.0%
957
895
931
937
934
3,707
3,697
Canada
Jonquire (Vaudreuil) refinery - Quebec (a)
100.0%
367
367
365
351
365
1,452
1,448
(a) Jonquire'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
Jonquire (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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
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-les) 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
Bcancour 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
Laterrire 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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
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)
67.0
29.8
20.3
53.6
22.1
156.5
125.8
Gold ('000 ounces) (c)
40.6
51.1
43.0
54.1
55.4
135.4
203.7
Silver ('000 ounces) (c)
465
402
729
731
516
1,815
2,378
(a) Includes a small amount of copper in precipitates.
(b) New metal excluding recycled material.
(c) Includes gold and silver in intermediate products.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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
2017
COPPER & GOLD (continued)
Turquoise Hill Resources
Oyu Tolgoi mine (a)
33.5%
Mongolia
Ore Treated ('000 tonnes)
9,819
10,087
9,637
10,615
10,838
38,152
41,177
Average mill head grades:
Copper (%)
0.61
0.51
0.51
0.48
0.53
0.65
0.51
Gold (g/t)
0.25
0.15
0.16
0.18
0.20
0.36
0.17
Silver (g/t)
1.50
1.30
1.38
1.34
1.54
1.83
1.39
Copper concentrates produced ('000 tonnes)
206.7
176.0
171.0
170.0
205.5
846.6
722.5
Average concentrate grade (% Cu)
22.0
21.6
21.8
21.7
22.0
23.8
21.8
Production of metals in concentrates:
Copper in concentrates ('000 tonnes)
45.5
38.1
37.2
36.9
45.3
201.3
157.4
Gold in concentrates ('000 ounces)
49.4
24.8
23.9
30.9
34.8
300.0
114.3
Silver in concentrates ('000 ounces)
273
215
236
239
285
1,420
974
Sales of metals in concentrates:
Copper in concentrates ('000 tonnes)
37.6
39.5
37.3
36.9
35.7
188.9
149.3
Gold in concentrates ('000 ounces)
39
32
23
28
27
347
111
Silver in concentrates ('000 ounces)
239
205
222
229
205
1,280
860
(a) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources.
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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
2017
DIAMONDS
Argyle Diamonds
100.0%
Western Australia
AK1 ore processed ('000 tonnes)
1,283
1,144
1,112
1,255
1,446
5,097
4,957
AK1 diamonds produced ('000 carats)
3,584
3,016
3,216
4,757
6,146
13,958
17,135
Diavik Diamonds
60.0%
Northwest Territories, Canada
Ore processed ('000 tonnes)
539
531
556
578
525
2,214
2,190
Diamonds recovered ('000 carats)
1,649
1,894
1,865
1,961
1,767
6,658
7,486
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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
2017
IRON ORE
Rio Tinto Iron Ore
Western Australia
Pilbara Operations
Saleable iron ore production ('000 tonnes)
Hamersley mines
(a)
54,848
48,664
48,674
52,921
56,501
205,902
206,760
Hamersley - Channar
60.0%
1,866
2,725
3,172
2,661
2,241
9,731
10,798
Hope Downs
50.0%
11,588
10,435
12,575
11,956
11,975
47,010
46,941
Robe River - Pannawonica (Mesas J and A)
53.0%
8,477
7,188
6,936
8,416
8,642
32,776
31,182
Robe River - West Angelas
53.0%
8,748
8,154
8,444
9,011
8,507
34,044
34,116
Total production ('000 tonnes)
85,526
77,165
79,801
84,965
87,866
329,463
329,797
Breakdown of total production:
Pilbara Blend Lump
24,902
23,618
24,671
25,342
25,496
95,915
99,127
Pilbara Blend Fines
36,988
32,755
34,682
36,748
37,641
142,804
141,826
Robe Valley Lump
3,066
2,741
2,753
2,962
3,106
11,551
11,563
Robe Valley Fines
5,411
4,446
4,183
5,454
5,535
21,226
19,619
Yandicoogina Fines (HIY)
15,159
13,605
13,512
14,458
16,088
57,968
57,663
Breakdown of total sales:
Pilbara Blend Lump
21,943
20,161
21,561
21,959
22,377
82,383
86,059
Pilbara Blend Fines
42,225
36,679
35,871
40,305
43,039
155,431
155,895
Robe Valley Lump
2,835
2,218
2,382
2,624
2,619
10,183
9,843
Robe Valley Fines
5,761
4,476
4,472
5,989
6,202
22,533
21,140
Yandicoogina Fines (HIY)
14,969
13,120
13,371
14,963
15,731
57,062
57,185
Total sales ('000 tonnes) (b)
87,732
76,655
77,658
85,840
89,968
327,592
330,122
(a) 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.
(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)
1,915
1,889
2,212
2,469
1,980
8,357
8,549
Pellets ('000 tonnes)
2,756
2,504
2,356
2,932
2,675
9,798
10,467
IOC Total production ('000 tonnes)
4,671
4,392
4,569
5,401
4,655
18,155
19,016
Sales:
Concentrates ('000 tonnes)
1,955
2,031
1,599
2,319
2,655
8,344
8,605
Pellets ('000 tonnes)
3,004
2,409
2,536
2,707
2,750
9,983
10,402
IOC Total Sales ('000 tonnes)
4,960
4,441
4,135
5,027
5,404
18,326
19,006
Global Iron Ore Totals
Iron Ore Production ('000 tonnes)
90,196
81,558
84,370
90,365
92,521
347,619
348,814
Iron Ore Sales ('000 tonnes)
92,692
81,096
81,792
90,867
95,373
345,918
349,128
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
interestQ4
2016Q1
2017Q2
2017Q3
2017Q4
2017Full Year
2016Full Year
2017
SALT
Dampier Salt
68.4%
Western Australia
Salt production ('000 tonnes)
2,028
1,246
2,159
1,795
2,246
7,578
7,446
TITANIUM DIOXIDE SLAG
Rio Tinto Iron & Titanium
100.0%
Canada and South Africa
(Rio Tinto share) (a)
Titanium dioxide slag ('000 tonnes)
300
332
316
327
341
1,048
1,315
(a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74% interest in Richards Bay Minerals' production. Ilmenite mined in Madagascar is being processed in Canada.
URANIUM
Energy Resources of Australia Ltd
Ranger mine (a)
68.4%
Northern Territory, Australia
U3O8 Production ('000 lbs)
1,328
1,316
991
1,407
1,343
5,182
5,056
(a) ERA production data are drummed U3O8.
Rssing Uranium Ltd (a)
68.6%
Namibia
U3O8 Production ('000 lbs)
1,138
981
1,254
1,103
1,314
4,078
4,652
(a) Rssing production data are drummed U3O8.
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.
This information is provided by RNSThe company news service from the London Stock ExchangeENDSTRFKPDDDBKBQDD
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