REG - Rio Tinto - Rio Tinto - JORC Table 1 release
22/02/2023 07:00
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RNS Number : 6322Q Rio Tinto PLC 22 February 2023
Changes to Ore Reserves and Mineral Resources
Rio Tinto has today announced to the Australian Securities Exchange (ASX)
changes in Mineral Resources and Ore Reserves to support its 2022 annual
reporting 1 (#_ftn1) , including:
· Increased Ore Reserves at the Rio Tinto Kennecott (RTK) copper
operations Bingham Canyon deposit in Utah.
· Increased Mineral Resources at the Winu copper project in Western
Australia.
· Revised resource classification for the Mineral Resources at the QIT
Madagascar Minerals (QMM) Petriky mineral sands deposit in Madagascar.
· Revised classification for the Ore Reserves at the Richards Bay
Minerals (RBM) Zulti South mineral sands deposit in South Africa.
Supporting information relating to the changes of Mineral Resources and Ore
Reserves is set out in the Table 1 Release and its appendices. This release
provides a summary of those changes. Mineral Resources and Ore Reserves are
quoted in this release on a 100 percent basis. Mineral Resources are reported
in addition to Ore Reserves. The figures used to calculate Mineral Resources
and Ore Reserve are often more precise than the rounded numbers shown in the
tables, hence small differences may result if the calculations are repeated
using the tabulated figures.
These changes will be included in Rio Tinto's 2022 Annual Report, to be
released to the market on 22 February 2023 (London time) / 23 February 2023
(Melbourne time), which will set out in full Rio Tinto's Mineral Resources and
Ore Reserves position as at 31 December 2022, and Rio Tinto's interests.
Rio Tinto Kennecott
Mineral Resources and Ore Reserves for the RTK Bingham Canyon open pit are
presented in Table A and Table B 2 (#_ftn2) . Ore Reserves tonnes have
increased by 70% as a result of the completion of a pre-feasibility study for
the Apex pit wall pushback which has enabled the conversion of Mineral
Resources plus previously unclassified mineralisation to Ore Reserves. Mineral
Resources have decreased as a result of this conversion.
Winu
Mineral Resources for the Winu copper project are presented in Table C 3
(#_ftn3) . This updated Mineral Resource represents a 19% increase in tonnage,
no change in copper grade, a 12% increase in gold grade, a 19% increase in
contained copper metal and a 33% increase in contained gold metal. The
updated Mineral Resource is supported by the advancement of mining and
processing studies and additional drilling information acquired since the
release of the Indicated and Inferred Mineral Resource published in the 2021
Rio Tinto Annual Report. There are no Ore Reserves reported for Winu.
Winu continues to advance agreement making with host Traditional Owners, the
Martu and Nyangumarta. Planned drilling, fieldwork and study activities
continue to strengthen the development pathway ahead of applications for
regulatory and other required approvals.
QIT Madagascar Minerals
The Petriky Mineral Resources form part of the QMM Mineral Resources which are
presented in Table D 4 (#_ftn4) . The previously reported Petriky Mineral
Resource was classified as Indicated however it was re-classified to Inferred
for the 2022 reporting period. The rationale to down-grade Petriky resources
from Indicated to Inferred was a combination of development risk and delays in
obtaining sufficient mineralogy and geotechnical data. Government permitting
to recommence drilling in the Petriky sector has been delayed, increasing the
risk of future resource development of Petriky, which has been identified as
one of the alternatives to replace Mandena once depleted. There are no Ore
Reserves reported for Petriky; Ore Reserves for QMM are for the Mandena
deposit and are presented in the Rio Tinto 2022 Annual Report.
Richards Bay Minerals
The Zulti South Ore Reserves form part of the RBM Ore Reserves which are
presented in Table E 5 (#_ftn5) . RBM Ore Reserve tonnes for 2022 include a
change in classification for the Zulti South project from Proven Reserves to
Probable Reserves. The change results from increased uncertainty in the
modifying factors as a result of schedule delays, due to ongoing community and
security challenges. The original project timelines have been affected. The
project remains on full suspension. Any restart of project activities is
dependent on the receipt of internal approvals, after which the classification
for the Zulti South Ore Reserves would be reviewed. All Mineral Resources at
Zulti South have been converted to Ore Reserves, thus there are no additional
Mineral Resources reported.
Table A Rio Tinto Kennecott Copper Bingham Canyon Open
Pit Mineral Resources as at 31 December 2022
Likely Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral
mining
method((1))
as at 31 December 2022 as at 31 December 2022 Resou
rces
as at
31
Decem
ber
2022
Tonnage Grade Tonnage Grade Tonnage Grade
Copper((2)) Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo
Bingham Canyon (US)
- Bingham Open Pit ((3)) O/P 49 0.50 0.15 2.42 0.019 30 0.42 0.15 2.44 0.015 79 0.47 0.15 2.43 0.018
Inferred Mineral Resources Total Mineral Resources Rio Tinto Total Mineral Resources
interest
as at 31 December 2022 as at 31 December 2022 as at
31
Decem
ber
2021
Tonnage Grade Tonnage Grade Tonnage Grade
Copper((2)) Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo % Mt % Cu g/t Au g/t Ag % Mo
Bingham Canyon (US)
- Bingham Open Pit ((3)) 14 0.21 0.16 1.19 0.006 93 0.43 0.15 2.24 0.016 100.0 256 0.39 0.20 1.75 0.017
1. Likely mining method: O/P = open pit/surface.
2. Copper Mineral Resources are reported on a dry in situ weight basis.
3. Bingham Canyon Open Pit Mineral Resource molybdenum grades interpolated
from exploration drilling assays have been factored based on a long
reconciliation history to blast hole and mill samples.
Table B Rio Tinto Kennecott Copper Bingham Canyon Ore
Reserves as at 31 December 2022
Type Proved Ore Reserves Probable Ore Reserves Total Ore Reserves
of
mine((1))
as at 31 December 2022 as at 31 December 2022 as
at
31
Dece
mber
2022
Tonnage Grade Tonnage Grade Tonnage Grade
Copper((2)) Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo Mt % Cu g/t Au g/t Ag % Mo
Bingham Canyon (US)
- Bingham Open Pit((3)) O/P 484 0.40 0.18 2.10 0.037 395 0.35 0.17 1.82 0.029 880 0.38 0.18 1.97 0.033
Average mill recovery % Rio Tinto Rio Tinto share Total Ore Reserves
interest
recoverable metal as at 31 December 2021
Tonnage Grade
Copper((2)) Cu Au Ag Mo % Mt Cu Moz Au Moz Ag Mt Mo Mt % Cu g/t Au g/t Ag % Mo
Bingham Canyon (US)
- Bingham Open Pit((3)) 87 69 72 59 100.0 2.890 3.406 40.386 0.172 541 0.44 0.17 2.22 0.029
1. Type of Mine: O/P = open pit/surface.
2. Copper Ore Reserves are reported as dry mill feed tonnes.
3. Bingham Canyon Open Pit Ore Reserve molybdenum grades interpolated from
exploration drilling assays have been factored based on a long reconciliation
history to blast hole and mill samples.
Table C Winu Mineral Resources as at 31 December 2022
Likely Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral
mining
method((1))
as at 31 December 2022 as at 31 December 2022 Reso
urce
s as
at
31
Dece
mber
2022
Tonnage Grade Tonnage Grade Tonnage Grade
Copper((2)) Mt % Cu g/t Au g/t Ag Mt % Cu g/t Au g/t Ag Mt % Cu g/t Au g/t Ag
Winu (Australia) O/P - - - - 222 0.45 0.35 2.73 222 0.45 0.35 2.73
Inferred Mineral Resources Total Mineral Resources Rio Tinto Total Mineral Resources
interest
as at 31 December 2022 as at 31 December 2022 as at 31 December 2021
Tonnage Grade Tonnage Grade Tonnage Grade
Copper((2)) Mt % Cu g/t Au g/t Ag Mt % Cu g/t Au g/t Ag % Mt % Cu g/t Au g/t Ag
Winu (Australia) 499 0.38 0.33 1.98 721 0.40 0.34 2.21 100.0 608 0.40 0.30 2.26
1. Likely mining method: O/P = open pit/surface.
2. Copper Mineral Resources are reported on a dry in situ weight basis.
Table D QIT Madagascar Minerals Mineral Resources as at
31 December 2022
Likely Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral
mining
method((1))
as at 31 December 2022 as at 31 December 2022 Res
our
ces
as
at
31
Dec
emb
er
202
2
Tonnage Grade Tonnage Grade Tonnage Grade
Titanium dioxide feedstock((2)) Mt % Ti Minerals % Zircon Mt % Ti Minerals % Zircon Mt % Ti Minerals % Zircon
QMM (Madagascar) O/P 445 4.3 0.2 398 4.0 0.2 843 4.2 0.2
Inferred Mineral Resources Total Mineral Resources Rio Tinto Total Mineral Resources
interest
as at 31 December 2022 as at 31 December 2022 as
at
31
Dec
emb
er
202
1
Tonnage Grade Tonnage Grade Tonnage Grade
Titanium dioxide feedstock((2)) Mt % Ti Minerals % Zircon Mt % Ti Minerals % Zircon % Mt % Ti Minerals % Zircon
QMM (Madagascar) 596 3.9 0.2 1,439 4.1 0.2 80.0 1,470 4.1 0.2
1. Likely mining method: O/P = open pit/surface.
2. Titanium dioxide feedstock Mineral Resources are reported as dry in
situ tonnes.
Table E Richards Bay Minerals
Ore Reserves as at 31 December 2022
Type Proved Ore reserves Probable Ore Reserves Total Ore Reserves
of
mine((1))
as at 31 December 2022 as at 31 December 2022 as
at
31
Dec
emb
er
202
2
Tonnage Grade Tonnage Grade Tonnage Grade
Titanium dioxide feedstock((2)) Mt % Ti Minerals % Zircon Mt % Ti Minerals % Zircon Mt % Ti Minerals % Zircon
RBM (South Africa) O/P 552 1.6 0.2 732 3.1 0.4 1,284 2.4 0.3
Rio Tinto Rio Tinto share Total Ore Reserves
interest
Marketable product as at 31 December 2021
Tonnage Grade
Titanium dioxide feedstock((2)) % Mt Titanium Dioxide Feedstock Mt Zircon Mt % Ti Minerals % Zircon
RBM (South Africa) 74.0 10.4 2.5 1,393 2.3 0.3
1. Type of Mine: O/P = open pit/surface.
2. The marketable product (zircon at RBM and zirsil at QMM) is shown after
all mining and processing losses. Titanium dioxide feedstock Ore Reserves
are reported as dry in situ tonnes.
Contacts Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, UK Media Relations, Australia
Matthew Klar Matt Chambers
M +44 7796 630 637 M +61 433 525 739
David Outhwaite Jesse Riseborough
M +44 7787 597 493 M +61 436 653 412
Media Relations, Americas Alyesha Anderson
Simon Letendre M +61 434 868 118
M +1 514 796 4973
Malika Cherry
M +1 418 592 7293
Investor Relations, UK
Menno Sanderse Investor Relations, Australia
M +44 7825 195 178 Tom Gallop
M +61 439 353 948
Amar Jambaa
David Ovington M +61 472 865 948
M +44 7920 010 978
Clare Peever
M +44 7788 967 877
Rio Tinto plc Rio Tinto Limited
6 St James's Square Level 43, 120 Collins Street
London SW1Y 4AD
United Kingdom Melbourne 3000
T +44 20 7781 2000 Australia
Registered in England
No. 719885
T +61 3 9283 3333
Registered in Australia
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
1 (#_ftnref1) These Mineral Resources and Ore Reserves were reported in
accordance with the Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves, 2012 (JORC Code) and the ASX Listing Rules
in a release to the ASX dated 22 February 2023 titled "Ore Reserve and Mineral
Resource updates: supporting information and Table 1 checklists" (Table 1
Release). Rio Tinto confirms that it is not aware of any new information or
data that materially affects the information included in the Table 1 Release,
that all material assumptions and technical parameters underpinning the
estimates in the Table 1 Release continue to apply and have not materially
changed, and that the form and context in which the Competent Persons'
findings are presented have not been materially modified.
2 (#_ftnref2) The Competent Persons responsible for the information in the
Table 1 Release that relates to Rio Tinto Kennecott Mineral Resources were Kim
Schroeder and Pancho Rodriguez, who are Members of the Australasian Institute
of Mining and Metallurgy (MAusIMM). The Competent Person responsible for the
information in the Table 1 Release that relates to Rio Tinto Kennecott Ore
Reserves is Brady Pett (MAusIMM).
3 (#_ftnref3) The Competent Person responsible for the information in the
Table 1 Release that relates to Winu Mineral Resources was James Pocoe
(MAusIMM).
4 (#_ftnref4) The Competent Person responsible for the information in the
Table 1 Release that relates to QIT Madagascar Minerals Mineral Resources was
Adriaan Louw, who is a Member of the South African Council for Natural
Scientific Professionals (SACNASP).
5 (#_ftnref5) The Competent Person responsible for the information in the
Table 1 Release that relates to Richards Bay Minerals Mineral Resources was
Anton Cawthorn-Blazeby (MAusIMM). The Competent Person responsible for the
information in the Table 1 Release that relates to Richards Bay Minerals Ore
Reserves is Sinetemba Mnunu (MAusIMM).
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