REG - Rio Tinto - Rio Tinto second quarter operations review <Origin Href="QuoteRef">RIO.L</Origin> - Part 2
16/07/2015 15:35
- Part 2: For the preceding part double click ID:nRSP1856Ta
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) The curtailment of production at the Gove refinery was completed on 28 May
2014.
(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) 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.
(e) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79%
interest in Turquoise Hill Resources Ltd.
(f) Rio Tinto sold its 77.8% interest in Murowa Diamonds with an effective
date of 17 June 2015. Production data are shown up to that date.
(g) 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.
(h) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74%
interest in Richards Bay Minerals (RBM).
(i) ERA production reported is 'drummed' U3O8.
The Rio Tinto percentage shown above is at 30 June 2015.
Rio Tinto's interest in the Benga and Clermont mines and the Alucam and SØRAL smelters were sold in 2014. No data for these operations are included in the Share of Production table.
Rio Tinto operational data
Rio Tinto 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2014 2014 2014 2015 2015 2014 2015
ALUMINA
Smelter Grade Alumina - Aluminium Group
Alumina production ('000 tonnes)
Australia
Queensland Alumina Refinery - Queensland 80.0% 835 926 935 924 927 1,706 1,850
Yarwun refinery - Queensland 100.0% 661 656 687 683 700 1,344 1,384
Brazil
São Luis (Alumar) refinery 10.0% 865 938 953 862 940 1,747 1,802
Canada
Jonquière (Vaudreuil) refinery - Quebec (a) 100.0% 352 358 373 360 359 713 719
(a) Jonquière's (Vaudreuil's) production shows smelter grade alumina only and excludes hydrate produced and used for specialty alumina.
Smelter Grade Alumina - Other Aluminium
Alumina production ('000 tonnes)
Australia
Gove refinery - Northern Territory (a) 100.0% 139 0 0 0 0 676 0
(a) The curtailment of production at the Gove refinery was completed on 28 May 2014.
Specialty Alumina - Aluminium Group
Specialty alumina production ('000 tonnes)
Canada
Jonquière (Vaudreuil) plant - Quebec 100.0% 27 28 27 27 30 53 57
Rio Tinto percentage interest shown above is at 30 June 2015. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2014 2014 2014 2015 2015 2014 2015
ALUMINIUM
Primary Aluminium
Primary aluminium production ('000 tonnes)
Australia
Bell Bay smelter - Tasmania 100.0% 47 48 48 46 47 93 94
Boyne Island smelter - Queensland 59.4% 136 143 145 142 145 265 287
Tomago smelter - New South Wales 51.6% 139 142 144 141 145 275 286
Cameroon
Alucam (Edéa) smelter (a) 0.0% 23 24 22 - - 47 -
Canada
Alma smelter - Quebec 100.0% 111 116 116 115 116 223 231
Alouette (Sept-Îles) smelter - Quebec 40.0% 145 146 147 147 152 290 299
Arvida smelter - Quebec 100.0% 43 44 44 43 43 85 86
Arvida AP60 smelter - Quebec 100.0% 15 15 15 14 15 29 29
Bécancour smelter - Quebec 25.1% 111 110 114 105 113 222 218
Grande-Baie smelter - Quebec 100.0% 55 55 55 54 55 111 109
Kitimat smelter - British Columbia 100.0% 35 28 24 20 15 73 35
Laterrière smelter - Quebec 100.0% 61 62 62 60 61 121 121
France
Dunkerque smelter 100.0% 67 68 68 67 68 134 136
Iceland
ISAL (Reykjavik) smelter 100.0% 52 51 52 51 51 102 103
New Zealand
Tiwai Point smelter 79.4% 82 82 82 82 83 163 165
Norway
SØRAL (Husnes) smelter (b) 0.0% 23 23 8 - - 45 -
Oman
Sohar smelter 20.0% 91 92 93 93 94 178 187
United Kingdom
Lochaber smelter 100.0% 10 10 11 12 12 20 23
(a) Rio Tinto sold its 46.7% interest in the Alucam (Edéa) smelter with an effective date of 31 December 2014. Production data are shown up to that date.
(b) Rio Tinto sold its 50% interest in the SØRAL (Husnes) smelter with an effective date of 31 October 2014. Production data are shown up to that date.
Rio Tinto percentage interest shown above is at 30 June 2015. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2014 2014 2014 2015 2015 2014 2015
BAUXITE
Bauxite production ('000 tonnes)
Australia
Gove mine - Northern Territory 100.0% 1,426 1,725 1,574 1,710 1,863 3,230 3,572
Weipa mine - Queensland 100.0% 6,363 6,844 6,944 6,704 6,941 12,479 13,646
Brazil
Porto Trombetas (MRN) mine 12.0% 3,918 4,177 4,633 3,651 3,723 7,567 7,375
Guinea
Sangaredi mine (a) 23.0% 4,189 4,043 3,823 3,627 3,209 7,937 6,835
Rio Tinto share of bauxite shipments
Share of total bauxite shipments ('000 tonnes) 10,065 10,671 10,851 10,487 10,926 19,895 21,413
Share of third party bauxite shipments ('000 tonnes) 5,768 6,523 6,502 6,372 6,848 10,232 13,220
(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 30 June 2015. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2014 2014 2014 2015 2015 2014 2015
BORATES
Rio Tinto Minerals - borates 100.0%
US
Borates ('000 tonnes) (a) 133 127 123 129 124 259 253
(a) Production is expressed as B2O3 content.
COAL
Rio Tinto Coal Australia
Bengalla mine 32.0%
New South Wales
Thermal coal ('000 tonnes) 2,045 2,083 2,061 2,341 1,776 4,414 4,116
Clermont Coal mine (a) 0.0%
Queensland
Thermal coal ('000 tonnes) 2,265 - - - - 4,832 -
Hail Creek Coal mine 82.0%
Queensland
Hard coking coal ('000 tonnes) 1,631 1,557 1,853 1,450 1,645 3,082 3,095
Thermal coal ('000 tonnes) 420 856 639 884 733 810 1,617
Hunter Valley Operations 80.0%
New South Wales
Semi-soft coking coal ('000 tonnes) 481 365 550 574 976 1,020 1,550
Thermal coal ('000 tonnes) 2,728 3,415 2,844 2,730 1,974 5,665 4,703
Kestrel Coal mine 80.0%
Queensland
Hard coking coal ('000 tonnes) 613 621 149 1,017 940 1,393 1,956
Thermal coal ('000 tonnes) 109 56 311 118 178 197 296
Mount Thorley Operations 64.0%
New South Wales
Semi-soft coking coal ('000 tonnes) 570 496 333 485 263 1,124 748
Thermal coal ('000 tonnes) 665 780 200 551 809 1,261 1,359
Rio Tinto percentage interest shown above is at 30 June 2015. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2014 2014 2014 2015 2015 2014 2015
COAL (continued)
Warkworth mine 44.5%
New South Wales
Semi-soft coking coal ('000 tonnes) 345 80 170 287 170 683 457
Thermal coal ('000 tonnes) 1,692 1,598 2,073 1,478 1,499 3,132 2,977
Total hard coking coal production ('000 tonnes) 2,244 2,178 2,002 2,467 2,585 4,476 5,051
Total semi-soft coking coal production ('000 tonnes) 1,395 942 1,052 1,347 1,408 2,827 2,755
Total thermal coal production ('000 tonnes) 9,924 8,787 8,129 8,101 6,968 20,311 15,069
Total coal production ('000 tonnes) 13,563 11,906 11,183 11,915 10,961 27,613 22,876
Total coal sales ('000 tonnes) 13,569 11,409 12,395 11,926 11,016 27,583 22,942
Rio Tinto Coal Australia share (b)
Share of hard coking coal sales ('000 tonnes) 2,152 1,563 1,978 1,925 2,405 4,143 4,330
Share of semi-soft coal sales ('000 tonnes) (c) 803 790 812 929 963 1,623 1,892
Share of thermal coal sales ('000 tonnes) (c) 5,447 4,972 5,183 4,781 3,913 11,275 8,694
(a) Rio Tinto sold its 50.1% interest in the Clermont mine with an effective date of 29 May 2014. Production data are shown up to that date.
(b) Kestrel produces hard coking coal and thermal coal through its mining operations. These coals may be blended at ports.
(c) Sales relate only to coal mined by the operations and exclude traded coal.
Rio Tinto Coal Mozambique
Benga mine (a) 0.0%
Hard coking coal production ('000 tonnes) 288 236 26 - - 379 -
Thermal coal production ('000 tonnes) 271 216 23 - - 354 -
(a) Rio Tinto completed the sale of Rio Tinto Coal Mozambique and its 65% interest in the Benga mine with an effective date of 7 October 2014. Production data are shown up to that date.
Rio Tinto percentage interest shown above is at 30 June 2015. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2014 2014 2014 2015 2015 2014 2015
COPPER & GOLD
Escondida 30.0%
Chile
Sulphide ore to concentrator ('000 tonnes) 21,438 20,652 18,354 21,382 22,909 42,488 44,291
Average copper grade (%) 1.33 1.20 1.45 1.49 1.32 1.23 1.40
Mill production (metals in concentrates):
Contained copper ('000 tonnes) 235.6 205.5 215.7 270.6 249.6 431.2 520.2
Contained gold ('000 ounces) 27 22 13 21 26 55 47
Contained silver ('000 ounces) 1,439 1,159 958 1,355 1,314 2,765 2,669
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 62.3 75.3 80.5 83.5 78.5 129.4 162.0
Refined production from leach plants:
Copper cathode production ('000 tonnes) 81.5 69.3 75.0 77.3 88.8 157.3 166.1
(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) 9,368 12,488 11,512 14,123 18,269 19,985 32,392
Average mill head grades:
Copper (%) 0.73 0.88 0.79 0.57 0.66 0.72 0.62
Gold (g/t) 0.65 1.28 1.14 0.68 0.69 0.72 0.69
Silver (g/t) 3.08 3.90 3.37 2.13 1.94 3.21 2.02
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 58.7 97.7 82.3 72.2 104.8 126.2 177.0
Gold in concentrates ('000 ounces) 147 439 366 262 320 362 582
Silver in concentrates ('000 ounces) 499 913 771 558 639 1,057 1,198
Sales of payable metals in concentrates: (c)
Copper in concentrates ('000 tonnes) 54.3 120.0 83.9 70.4 98.8 104.9 169.2
Gold in concentrates ('000 ounces) 136 505 366 260 306 299 566
Silver in concentrates ('000 ounces) 367 889 623 435 483 701 918
(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 2Q 2015 results show the forecast from FCX's most recent five-year plan, because FCX is not releasing its actual 100% operating data for 2Q 2015 until the release of its 2015 second-quarter results on 23 July 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 30 June 2015. The data represent full production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto 2Q 3Q 4Q 1Q 2Q 1H 1H
interest 2014 2014 2014 2015 2015 2014 2015
COPPER & GOLD (continued)
Kennecott Utah Copper
Barneys Canyon mine (a) 100.0%
Utah, US
Gold produced ('000 ounces) 0.4 0.0 0.0 0.0 0.0 0.4 0.0
Bingham Canyon mine 100.0%
Utah, US
Ore treated ('000 tonnes) 10,480 12,184 6,404 9,819 8,208 22,396 18,026
Average ore grade:
Copper (%) 0.65 0.49 0.37 0.31 0.25 0.65 0.28
Gold (g/t) 0.33 0.33 0.26 0.21 0.17 0.29 0.19
Silver (g/t) 3.26 3.01 2.22 2.22 1.99 2.92 2.11
Molybdenum (%) 0.044 0.069 0.060 0.041 0.046 0.036 0.044
Copper concentrates produced ('000 tonnes) 225 193 82 133 84 524 218
Average concentrate grade (% Cu) 27.5 27.2 24.8 19.9 20.6 25.0 20.2
Production of metals in copper concentrates:
Copper ('000 tonnes) (b) 61.9 52.8 20.5 26.6 17.4 131.0 44.0
Gold ('000 ounces) 77 87 33 45 29 140 74
Silver ('000 ounces) 864 970 356 486 310 1,608 796
Molybdenum concentrates produced ('000 tonnes): 4.6 10.5 4.9 5.2 5.0 6.5 10.3
Molybdenum in concentrates ('000 tonnes) 2.5 5.6 2.6 2.7 2.6 3.4 5.3
(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) 309 205 122 148 99 581 247
Copper anodes produced ('000 tonnes) (a) 71.7 50.2 24.9 35.1 19.1 129.1 54.2
Production of refined metal:
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