REG - Rio Tinto - Rio Tinto releases robust fourth quarter <Origin Href="QuoteRef">RIO.L</Origin> - Part 3
28/01/2015 01:36
- Part 3: For the preceding part double click ID:nRST5763Cb
interest 2013 2014 2014 2014 2014 2013 2014
COPPER & GOLD
Escondida 30.0%
Chile
Sulphide ore to concentrator ('000 tonnes) 19,584 21,051 21,438 20,652 18,354 76,119 81,494
Average copper grade (%) 1.30 1.12 1.33 1.20 1.45 1.38 1.27
Mill production (metals in concentrates):
Contained copper ('000 tonnes) 214.4 195.5 235.6 205.5 215.7 886.2 852.4
Contained gold ('000 ounces) 24 29 27 22 13 94 90
Contained silver ('000 ounces) 1,124 1,326 1,439 1,159 958 4,032 4,883
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 64.9 67.1 62.3 75.3 80.5 235.3 285.2
Refined production from leach plants:
Copper cathode production ('000 tonnes) 77.5 75.8 81.5 69.3 75.0 305.3 301.5
(a) The calculation of copper in material mined for leaching is based on ore stacked at the leach pad.
Freeport-McMoRan Copper & Gold
Grasberg mine (a) 0.0% (b)
Papua, Indonesia
Ore treated ('000 tonnes) 18,837 10,617 9,368 12,488 16,892 65,418 49,365
Average mill head grades:
Copper (%) 0.87 0.73 0.73 0.88 0.78 0.76 0.78
Gold (g/t) 0.99 0.79 0.65 1.28 0.87 0.69 0.91
Silver (g/t) 3.72 3.34 3.08 3.90 2.14 2.99 3.02
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 148.9 67.5 58.7 97.7 114.7 436.3 338.7
Gold in concentrates ('000 ounces) 517 215 147 439 374 1,177 1,175
Silver in concentrates ('000 ounces) 1,479 558 499 913 672 3,868 2,642
Sales of payable metals in concentrates: (c)
Copper in concentrates ('000 tonnes) 138.3 50.6 54.3 120.0 113.3 407.3 338.2
Gold in concentrates ('000 ounces) 475 163 136 505 372 1,096 1,176
Silver in concentrates ('000 ounces) 1,090 334 367 889 543 2,866 2,133
(a) Through a joint venture agreement with Freeport-McMoRan (FCX), Rio Tinto is entitled to 40% of additional material mined as a consequence of expansions and developments of the Grasberg facilities since 1998. The 4Q 2014 results show the forecast from FCX's most recent five-year plan, because FCX is not releasing its actual 100% operating data for 4Q 2014 until the release of its 2014 fourth-quarter results on 27 January 2015.
(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 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2013 2014 2014 2014 2014 2013 2014
COPPER & GOLD (continued)
Kennecott Utah Copper
Barneys Canyon mine (a) 100.0%
Utah, US
Gold produced ('000 ounces) 0.0 0.0 0.4 0.0 0.0 0.4 0.4
Bingham Canyon mine 100.0%
Utah, US
Ore treated ('000 tonnes) 13,088 11,916 10,480 12,184 6,404 43,606 40,984
Average ore grade:
Copper (%) 0.56 0.65 0.65 0.49 0.37 0.55 0.56
Gold (g/t) 0.28 0.25 0.33 0.33 0.26 0.21 0.30
Silver (g/t) 3.12 2.62 3.26 3.01 2.22 3.01 2.83
Molybdenum (%) 0.032 0.029 0.044 0.069 0.060 0.031 0.050
Copper concentrates produced ('000 tonnes) 257 299 225 193 82 885 799
Average concentrate grade (% Cu) 25.1 23.1 27.5 27.2 24.8 23.8 25.5
Production of metals in copper concentrates:
Copper ('000 tonnes) (b) 64.5 69.2 61.9 52.8 20.5 211.0 204.3
Gold ('000 ounces) 74 63 77 87 33 207 260
Silver ('000 ounces) 930 744 864 970 356 2,876 2,935
Molybdenum concentrates produced ('000 tonnes): 3.5 1.9 4.6 10.5 4.9 11.1 21.9
Molybdenum in concentrates ('000 tonnes) 1.8 0.9 2.5 5.6 2.6 5.7 11.5
(a) Mining operations ceased in the first quarter of 2002. Gold continues to be recovered from leach pads.
(b) Includes a small amount of copper in precipitates.
Kennecott smelter & refinery 100.0%
Copper concentrates smelted ('000 tonnes) 266 273 309 205 122 890 908
Copper anodes produced ('000 tonnes) (a) 56.9 57.4 71.7 50.2 24.9 192.0 204.2
Production of refined metal:
Copper ('000 tonnes) 57.7 53.1 70.1 62.7 18.3 193.6 204.1
Gold ('000 ounces) (b) 47.8 62.0 59.8 79.3 51.1 192.3 252.2
Silver ('000 ounces) (b) 633 598 818 759 636 2,158 2,811
(a) New metal excluding recycled material.
(b) Includes gold and silver in intermediate products.
Rio Tinto percentage interest shown above is at 31 December 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2013 2014 2014 2014 2014 2013 2014
COPPER & GOLD (continued)
Northparkes Joint Venture (a) 0.0%
New South Wales, Australia
Ore treated ('000 tonnes) 989 - - - - 5,478 -
Average ore grade:
Copper (%) 1.03 - - - - 1.04 -
Gold (g/t) 0.44 - - - - 0.47 -
Copper concentrates produced ('000 tonnes) 27.1 - - - - 153.6 -
Contained copper in concentrates:
Saleable production ('000 tonnes) 9.0 - - - - 50.6 -
Sales ('000 tonnes) (b) 11.6 - - - - 42.5 -
Contained gold in concentrates:
Saleable production ('000 ounces) 10.1 - - - - 61.6 -
Sales ('000 ounces) (b) 14.1 - - - - 53.4 -
(a) Rio Tinto sold its 80% interest in Northparkes with an effective date of 1 December 2013. Production data are shown up to that date.
(b) Rio Tinto's 80% share of material from the Joint Venture.
Turquoise Hill Resources
Oyu Tolgoi mine (a) 33.5%
Mongolia
Ore Treated ('000 tonnes) 7,835 5,560 7,778 7,029 7,505 20,317 27,872
Average mill head grades:
Copper (%) 0.49 0.52 0.53 0.59 0.74 0.47 0.60
Gold (g/t) 0.41 0.49 0.60 0.80 1.46 0.36 0.86
Silver (g/t) 1.44 1.52 1.57 1.64 1.65 1.39 1.60
Copper concentrates produced ('000 tonnes) 129.5 102.9 140.0 134.1 186.7 290.0 563.6
Average concentrate grade (% Cu) 25.4 24.6 25.8 27.3 26.9 26.4 26.3
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 32.9 25.3 36.2 36.6 50.3 76.7 148.4
Gold in concentrates ('000 ounces) 73.7 65.6 113.0 132.0 278.2 157.0 588.7
Silver in concentrates ('000 ounces) 208 163 229 216 286 489 893
Sales of metals in concentrates:
Copper in concentrates ('000 tonnes) 6.1 13.1 51.6 53.6 67.6 6.1 185.8
Gold in concentrates ('000 ounces) 10 28 126 144 263 10 561
Silver in concentrates ('000 ounces) 36 78 309 323 383 36 1,093
(a) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources. Production included in the table is from 1 May 2013.
Rio Tinto percentage interest shown above is at 31 December 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2013 2014 2014 2014 2014 2013 2014
COPPER & GOLD (continued)
Palabora (a) 0.0%
Palabora Mine
South Africa
Ore Treated ('000 tonnes) - - - - - 4,360 -
Average ore grade: copper (%) - - - - - 0.57 -
Copper concentrates produced ('000 tonnes) - - - - - 83.2 -
Average concentrate grade: copper (%) - - - - - 26.7 -
Copper in concentrates ('000 tonnes) - - - - - 22.2 -
Palabora smelter/refinery
New concentrate smelted on site ('000 tonnes) - - - - - 111.3 -
New copper anodes produced ('000 tonnes) - - - - - 27.3 -
Refined new copper produced ('000 tonnes) - - - - - 25.8 -
Gold in Anode Slimes ('000 tonnes) - - - - - 5.5 -
By-products:
Magnetite concentrate ('000 tonnes) - - - - - 2,628 -
Nickel contained in products (tonnes) - - - - - 17 -
Vermiculite plant
Vermiculite produced ('000 tonnes) - - - - - 73 -
(a) The sale of Rio Tinto's 57.7% interest in Palabora Mining Company was completed on 31 July 2013; production data have been reported up to 30 June 2013.
DIAMONDS
Argyle Diamonds (a) 100.0%
Western Australia
AK1 ore processed ('000 tonnes) 1,728 724 712 876 688 7,278 2,999
AK1 diamonds produced ('000 carats) 3,153 2,461 2,459 2,455 1,813 11,359 9,188
(a) Rio Tinto officially opened the Argyle underground mine on 30 April 2013.
Diavik Diamonds 60.0%
Northwest Territories, Canada
Ore processed ('000 tonnes) 539 587 617 560 512 2,116 2,277
Diamonds recovered ('000 carats) 2,066 1,865 2,150 1,673 1,545 7,243 7,233
Murowa Diamonds 77.8%
Zimbabwe
Ore processed ('000 tonnes) 144 142 135 153 160 564 590
Diamonds recovered ('000 carats) 135 89 107 116 130 414 442
Rio Tinto percentage interest shown above is at 31 December 2014. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 4Q 1Q 2Q 3Q 4Q Full Year Full Year
interest 2013 2014 2014 2014 2014 2013 2014
IRON ORE
Rio Tinto Iron Ore
Western Australia
Pilbara Operations
Saleable iron ore production ('000 tonnes)
Hamersley mines (a) 38,381 36,345 39,742 41,837 45,239 143,347 163,163
Hamersley - Channar 60.0% 2,692 2,737 2,737 2,938 2,502 11,047 10,913
Hope Downs 50.0% 9,112 9,559 10,187 11,292 11,677 33,788 42,715
Robe River - Pannawonica (Mesas J and A) 53.0% 8,661 8,168 8,547 9,144 8,677 33,308 34,535
Robe River - West Angelas 53.0% 7,635 6,564 7,845 7,657 7,198 29,093 29,264
Total production ('000 tonnes) 66,481 63,373 69,057 72,868 75,292 250,583 280,590
Breakdown of total production:
Pilbara Blend Lump 17,374 17,031 18,688 19,416 20,298 65,959 75,433
Pilbara Blend Fines 25,993 24,795 28,397 30,711 31,213 97,646 115,115
Robe Valley Lump 3,076 2,666 2,863 3,051 3,002 11,184 11,582
Robe Valley Fines 5,585 5,502 5,684 6,093 5,675 22,124 22,953
Yandicoogina Fines (HIY) 14,453 13,379 13,425 13,597 15,105 53,670 55,507
Breakdown of total sales:
Pilbara Blend Lump 15,628 14,971 16,246 17,378 17,295 55,864 65,889
Pilbara Blend Fines 28,999 27,821 32,871 33,380 37,370 101,366 131,441
Robe Valley Lump 3,096 2,264 2,764 2,651 2,708 9,891 10,387
Robe Valley Fines 6,592 5,431 6,247 6,124 6,514 23,172 24,317
Yandicoogina Fines (HIY) 14,504 13,732 13,712 14,198 14,628 53,969 56,270
Total sales ('000 tonnes) (b) 68,819 64,219 71,841 73,731 78,515 244,262 288,305
(a) Includes 100% of production from Paraburdoo, Mt Tom Price, Marandoo, Yandicoogina, Brockman, Nammuldi and the Eastern Range mines. Whilst Rio Tinto owns 54% of the Eastern Range mine, under the terms of the joint venture agreement, Hamersley Iron manages the operation and is obliged to purchase all mine production from the joint venture and therefore all of the production is included in Rio Tinto's share of production.
(b) Sales represent iron ore exported from Western Australian ports.
Iron Ore Company of Canada
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