REG - Rio Tinto - Rio Tinto JORC Table 1 release
21/02/2024 07:00
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RNS Number : 8400D Rio Tinto PLC 21 February 2024
Notice to
ASX/LSE
Mineral Resources and Ore Reserves updates
21 February 2024
Rio Tinto has today announced to the Australian Securities Exchange (ASX)
changes in Mineral Resources and Ore Reserves to support its 2023 annual
reporting 1 (#_ftn1) , including:
· Decreased Mineral Resources at the Rio Tinto Kennecott (RTK)
Bingham Canyon open pit deposit in Utah, United States of America.
· Increased Ore Reserves and associated decreased Mineral Resources
at the Rio Tinto Aluminium (RTA) Pacific Operations Amrun deposit in
Queensland, Australia.
· Revised classification for the Ore Reserves at the Iron Ore
Company of Canada (IOC) operations in Newfoundland and Labrador, Canada.
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 Reserves 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 2023 Annual Report, to be
released to the market on 21 February 2024, which will set out in full Rio
Tinto's Mineral Resources and Ore Reserves position as at 31 December 2023,
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) . Mineral Resources tonnes have
decreased by 21 Mt (22%) as a result of the conversion of the East Wall
Extension to Ore Reserves and removal of an opportunity to steepen the South
Wall due to geotechnical concerns and changes to economic assumptions. There
is an associated increase in Ore Reserves as a result of the East Wall
conversion, which has been offset by depletion.
Rio Tinto Aluminium Pacific Operations - Amrun
Mineral Resources and Ore Reserves for the RTA Amrun deposit are presented in
Table C and Table D 3 (#_ftn3) . Mineral Resources exclusive of Ore Reserves
have decreased by 55 Mt (7%) at Amrun due to conversion of Mineral Resources
to Ore Reserves resulting from a routine review of price assumptions over the
life of the mine, and updated orebody knowledge.
Ore Reserves have increased by 149 Mt (19%) at Amrun. The increase in Ore
Reserves is associated with a routine review of price assumptions over the
life of the mine, and updated orebody knowledge. There has been no material
change to other modifying factors, including governmental, tenure,
environmental, cultural heritage, community or operational.
Iron Ore Company of Canada
Mineral Resources and Ore Reserves for IOC are presented in Table E and Table
F 4 (#_ftn4) . The classification of the Ore Reserves has changed as a result
of reclassification of a significant proportion of the Proved Ore Reserves to
Probable Ore Reserves. The change reflects a lower level of confidence in the
modifying factors in areas supported by older data which does not have
recovery and grind energy geometallurgical data.
Table A Rio Tinto Kennecott Copper Bingham Canyon open
pit Mineral Resources as at 31 December 2023
Likely Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral
mining
method((1))
as at 31 December 2023 as at 31 December 2023 Resou
rces
as at
31
Decem
ber
2023
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 38 0.47 0.15 2.47 0.020 22 0.39 0.16 2.66 0.016 59 0.44 0.15 2.54 0.018
Inferred Mineral Resources Total Mineral Resources Rio Tinto Total Mineral Resources
interest
as at 31 December 2023 as at 31 December 2023 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)) 12 0.26 0.20 2.56 0.005 72 0.41 0.16 2.55 0.016 100.0 93 0.43 0.15 2.24 0.016
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 Resources 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 open
pit Ore Reserves as at 31 December 2023
Type Proved Ore Reserves Probable Ore Reserves Total Ore Reserves
of
mine((1))
as at 31 December 2023 as at 31 December 2023 as
at
31
Dece
mber
2023
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 470 0.37 0.18 1.98 0.038 360 0.36 0.18 1.98 0.028 829 0.37 0.18 1.98 0.033
Average mill recovery % Rio Tinto Rio Tinto share Total Ore Reserves
interest
recoverable metal as at 31 December 2022
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)) 89 69 71 63 100.0 2.681 3.257 37.686 0.176 880 0.38 0.18 1.97 0.033
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 Reserves molybdenum grades interpolated
from exploration drilling assays have been factored based on a long
reconciliation history to blast hole and mill samples.
Table C Rio Tinto Aluminium Pacific Operations Mineral
Resources as at 31 December 2023
Likely Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral
mining
method((1))
as at 31 December 2023 as at 31 December 2023 Res
our
ces
as
at
31
Dec
emb
er
202
3
Tonnage Grade Tonnage Grade Tonnage Grade
Bauxite Mt % Al(2)O(3) % SiO(2) Mt % Al(2)O(3) % SiO(2) Mt % Al(2)O(3) % SiO(2)
Rio Tinto Aluminium (Australia)((2))
- Amrun O/P 115 49.2 11.7 388 49.7 11.7 504 49.6 11.7
- East Weipa and Andoom O/P 43 49.9 8.8 - - - 43 49.9 8.8
- Gove O/P 9 48.1 8.9 0.4 47.8 8.9 9 48.1 8.9
- North of Weipa O/P - - - 202 52.0 11.1 202 52.0 11.1
Total (Australia) 167 49.3 10.8 591 50.5 11.5 759 50.2 11.4
Inferred Mineral Resources Total Mineral Resources Rio Tinto Total Mineral Resources
interest
as at 31 December 2023 as at 31 December 2023 as
at
31
Dec
emb
er
202
2
Tonnage Grade Tonnage Grade Tonnage Grade
Bauxite Mt % Al(2)O(3) % SiO(2) Mt % Al(2)O(3) % SiO(2) % Mt % Al(2)O(3) % SiO(2)
Rio Tinto Aluminium (Australia)((2))
- Amrun 285 51.7 12.1 788 50.4 11.9 100.0 843 50.6 11.8
- East Weipa and Andoom - - - 43 49.9 8.8 100.0 53 49.3 8.5
- Gove 0.01 46.9 8.1 9 48.1 8.9 100.0 13 48.3 9.0
- North of Weipa 1,248 51.8 11.4 1,451 51.9 11.4 100.0 1,330 52.0 11.6
Total (Australia) 1,533 51.8 11.5 2,291 51.3 11.5 2,240 51.4 11.6
1. Likely mining method: O/P = open pit/surface.
2. Rio Tinto Aluminium bauxite Mineral Resources are stated as dry product
tonnes and total alumina and silica grades.
Table D Rio Tinto Aluminium Pacific Operations Ore
Reserves as at 31 December 2023
Type Proved Ore Reserves Probable Ore Reserves Total Ore Reserves
of
mine((1))
as at 31 December 2023 as at 31 December 2023 as
at
31
Dec
emb
er
202
3
Tonnage Grade Tonnage Grade Tonnage Grade
Bauxite((2)) Mt % Al(2)O(3) % SiO(2) Mt % Al(2)O(3) % SiO(2) Mt % Al2O3 % SiO2
Rio Tinto Aluminium (Australia)((3))
- Amrun O/P 263 53.9 9.2 688 54.5 9.0 950 54.3 9.1
- East Weipa and Andoom O/P 69 50.5 7.9 3 49.5 8.7 72 50.5 8.0
- Gove O/P 57 50.2 6.4 0.7 50.5 5.0 58 50.2 6.4
Total (Australia) 388 52.8 8.6 692 54.4 9.0 1,080 53.8 8.8
Rio Tinto interest Rio Tinto share recoverable mineral Total Ore Reserves as at 31 December 2022
Tonnage Grade
Bauxite((2)) % Mt Mt % Al2O3 % SiO2
Rio Tinto Aluminium (Australia)((3))
- Amrun 100.0 950 801 54.6 8.9
- East Weipa and Andoom 100.0 72 59 51.7 7.1
- Gove 100.0 58 56 50.5 5.8
Total (Australia) 100.0 1,080 916 54.2 8.6
1. Type of Mine: O/P = open pit/surface.
2. Bauxite Ore Reserves are stated as recoverable Ore Reserves of
marketable product after accounting for all mining and processing losses. Mill
recoveries are therefore not shown.
3. Australian bauxite Ore Reserves are stated as dry tonnes and total
alumina and silica grade.
Table E Iron Ore Company of
Canada Mineral Resources as at 31 December 2023
Likely Measured Mineral Resources Indicated Mineral Resources Total Measured and Indicated Mineral
mining
method((1))
as at 31 December 2023 as at 31 December 2023 Resou
rces
as at
31
Decem
ber
2023
Tonnage Grade Tonnage Grade Tonnage Grade
Iron ore((2)) Mt % Fe % SiO(2) % Al(2)O(3) % P Mt % Fe % SiO(2) % Al(2)O(3) % P Mt % Fe % SiO2 % Al2O3 % P
Iron Ore Company of Canada (Canada)((3)) O/P 171 40.8 35.8 0.2 0.02 720 38.5 37.1 0.2 0.03 891 38.9 36.9 0.2 0.03
Inferred Mineral Resources Total Mineral Resources Rio Tinto Total Mineral Resources
interest
as at 31 December 2023 as at 31 December 2023 as at
31
Decem
ber
2022
Tonnage Grade Tonnage Grade Tonnage Grade
Iron ore((2)) Mt % Fe % SiO(2) % Al(2)O(3) % P Mt % Fe % SiO(2) % Al(2)O(3) % P % Mt % Fe % SiO(2) % Al(2)O(3) % P
Iron Ore Company of Canada (Canada)((3)) 751 38.2 35.7 0.2 0.03 1,641 38.6 36.3 0.2 0.03 58.7 1,666 38.7 37.4 0.2 0.03
1. Likely mining method: O/P = open pit/surface.
2. Iron ore Mineral Resources are stated on a dry in situ weight
basis.
3. The reported Mineral Resources have the potential to produce
marketable product (57% pellets and 43% concentrate for sale at a natural
moisture content of 2%) comprising 73 million tonnes at 65% iron 2.7% silica
(Measured), 301 million tonnes at 65% iron 2.7% silica (Indicated) and 308
million tonnes at 65% iron 2.7% silica (Inferred) using process recovery
factors derived from current IOC concentrating and pellet operations. LOI is
not determined for resource drilling samples, so no estimate of % LOI is
available for Mineral Resources.
Table F Iron Ore Company of Canada Ore Reserves as at
31 December 2023
Type Proved Ore reserves Probable Ore Reserves Total Ore Reserves
of
mine((1))
as at 31 December 2023 as at 31 December 2023 as
at
31
Dec
emb
er
202
3
Tonnage Grade Tonnage Grade Tonnage Grade
Iron ore((2)) Mt % Fe % SiO(2) Mt % Fe % SiO(2) Mt % Fe % SiO(2)
Iron Ore Company of Canada (Canada)((3)) O/P 149 65.0 2.8 275 65.0 2.8 423 65.0 2.8
Rio Tinto Rio Tinto share Total Ore Reserves
interest
marketable product as at 31 December 2022
Tonnage Grade
Iron ore((2)) % Mt Mt % Fe % SiO(2)
Iron Ore Company of Canada (Canada)((3)) 58.7 249 453 65.0 3.0
1. Type of Mine: O/P = open pit/surface.
2. Ore Reserves of iron ore are shown as recoverable Ore Reserves of
marketable product after accounting for all mining and processing losses. Mill
recoveries are therefore not shown.
3. Iron Ore Company of Canada Ore Reserves are reported as marketable
product (57% pellets and 43% concentrate for sale) at a natural moisture
content of 2%. The marketable product is derived from mined material
comprising 357 million dry tonnes at 38% iron, 36% silica, 0.23% alumina,
0.022% phosphorus (Proved) and 651 million dry tonnes at 38% iron, 35% silica,
0.19% alumina, 0.023% phosphorus (Probable) using process recovery factors
derived from current IOC concentrating and pellet operations. No meaningful
relationship has been established between the product and feed grades of
alumina and phosphorus, so these grades cannot be reported for Ore Reserves.
Saleable product is produced to meet silica grade specifications, so the Ore
Reserves silica grade is the targeted silica grade for the currently
anticipated long-term product mix. Loss on Ignition (LOI) is not determined
for resource drilling samples, so no estimate of % LOI is available for Ore
Reserves.
Contacts
Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, Media Relations, Media Relations,
United Kingdom Australia Americas
Matthew Klar Matt Chambers Simon Letendre
M +44 7796 630 637 M +61 433 525 739 M +514 796 4973
David Outhwaite Jesse Riseborough Malika Cherry
M +44 7787 597 493 M +61 436 653 412 M +1 418 592 7293
Alyesha Anderson Vanessa Damha
M +61 434 868 118 M +1 514 715 2152
Michelle Lee
M +61 458 609 322
Investor Relations, Investor Relations,
United Kingdom Australia
Menno Sanderse Tom Gallop
M +44 7825 195 178 M +61 439 353 948
David Ovington Amar Jambaa
M +44 7920 010 978 M +61 472 865 948
Laura Brooks
M +44 7826 942 797
Rio Tinto plc Rio Tinto Limited
6 St James's Square Level 43, 120 Collins Street
London SW1Y 4AD Melbourne 3000
United Kingdom Australia
T +44 20 7781 2000 T +61 3 9283 3333
Registered in England Registered in Australia
No. 719885 ABN 96 004 458 404
This announcement is authorised for release to the market by Andy Hodges, 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 21 February 2024 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
Pancho Rodriguez and Ana Chiquini, 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 Rio Tinto Aluminium Pacific Operations Mineral
Resources is Angus Mc Intyre (MAusIMM). The Competent Person responsible for
the information in the Table 1 Release that relates to Rio Tinto Aluminium
Pacific Operations Ore Reserves is William Saba (MAusIMM).
4 (#_ftnref4) The Competent Persons responsible for the information in the
Table 1 Release that relates to Iron Ore Company of Canada Mineral Resources
were Ramsey Way, Mervin McDonald and Beverly Power, who are Members of
Professional Engineers and Geoscientists of Newfoundland and Labrador. The
Competent Persons responsible for the information in the Table 1 Release that
relates to Iron Ore Company of Canada Ore Reserves were Rodney Williams and
Stéphane Roche, who are Members of Professional Engineers and Geoscientists
of Newfoundland and Labrador.
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