REG - Rio Tinto - First quarter production results
20/04/2022 07:00
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RNS Number : 6732I Rio Tinto PLC 20 April 2022
Rio Tinto releases first quarter production results
20 April 2022
Rio Tinto Chief Executive Jakob Stausholm, said: "We made notable progress
during the quarter with the commencement of underground mining at Oyu Tolgoi
following a comprehensive agreement reached with the Government of Mongolia,
completed the acquisition of the Rincon lithium project in Argentina, and
signed a framework agreement at the Simandou iron ore project in Guinea. These
projects are all aligned with our strategy of growing in materials essential
to a decarbonising world.
"Production in the first quarter was challenging as expected, re-emphasising a
need to lift our operational performance. We launched seven more deployments
of the Rio Tinto Safe Production System, building on the achievements from the
previous rollouts. As we ramp up Gudai-Darri, our iron ore business will have
greater production capacity and be better placed to produce additional tonnes
of Pilbara Blend in the second half.
"We released an independent report on our workplace culture and are
implementing all 26 recommendations to make positive and lasting changes. We
also announced an agreement with the Yinhawangka Aboriginal Corporation on a
new co-designed management plan to ensure the protection of significant social
and cultural heritage values.
"These actions will ensure we continue to deliver attractive returns to
shareholders, as we invest in sustaining and growing our portfolio, be a
partner and employer of choice and progress our ambition to achieve net-zero
carbon emissions."
Production* Q1 vs Q1 vs Q4
2021
2021
2022
Pilbara iron ore shipments (100% basis) Mt 71.5 -8 % -15 %
Pilbara iron ore production (100% basis) Mt 71.7 -6 % -15 %
Bauxite Mt 13.6 0 % +4 %
Aluminium kt 736 -8 % -3 %
Mined copper kt 125 +4 % -5 %
Titanium dioxide slag kt 273 -2 % +20 %
IOC iron ore pellets and concentrate Mt 2.4 +3 % -4 %
*Rio Tinto share unless
otherwise stated
Q1 2022 operational highlights and other key announcements
• The safety, health and wellbeing of our workforce and the
communities in which we operate are key priorities for our business. Our all
injury frequency rate of 0.33 is an improvement from the first quarter of 2021
(0.36), and an improvement against the prior quarter (0.41). We experienced
increased COVID-19 cases on-site in the Pilbara following the Western
Australian border opening and spikes in cases across our other operations. We
continue to monitor new variants and will remain vigilant.
• Pilbara operations had a challenging first quarter, as expected.
We produced 71.7 million tonnes (100% basis), 6% lower than the first quarter
of 2021. Pilbara shipments in the first quarter were 71.5 million tonnes (100%
basis), 8% lower than the first quarter of 2021. We expect increased
production volumes and improved product mix in the second half with the
commissioning and ramp up of Gudai-Darri, commissioning of the Robe Valley wet
plant and improved mine pit health. Full year shipments guidance remains
unchanged.
• Bauxite production of 13.6 million tonnes was in line with the
first quarter of 2021 with similar wet weather disruptions as the
corresponding period.
• Aluminium production of 0.7 million tonnes was 8% lower than the
first quarter of 2021 due to reduced capacity at our Kitimat smelter in
British Columbia following the strike which commenced in July 2021.
Preparations continue for the Kitimat smelter to progressively restart from
June 2022 with full ramp up expected by the end of the year. All of our other
smelters continued to have stable performance, despite considerable challenges
related to unplanned employee absences due to COVID-19.
• Mined copper production of 125 thousand tonnes was 4% higher than
the first quarter of 2021 due to higher recoveries and grades at Kennecott,
partly offset by lower grades at Oyu Tolgoi and lower throughput at Escondida.
On 1 April, we announced
(https://www.riotinto.com/news/releases/2022/New-labour-agreement-reached-for-Rio-Tinto-Kennecott-employees)
a new five-year Collective Bargaining Agreement had been reached with unions
representing approximately 1,300 employees at the Kennecott operation.
• On 25 January, we announced
(https://www.riotinto.com/news/releases/2022/Oyu-Tolgoi-partners-reach-comprehensive-agreement-and-approve-commencement-of-underground-mining-operations)
we had reached agreement with Turquoise Hill Resources and the Government of
Mongolia to move the Oyu Tolgoi project forward, resetting the relationship
between the partners and increasing the value the project delivers for
Mongolia. This step unlocks the most valuable part of the mine, with first
sustainable production expected in the first half of 2023.
• On 14 March, we announced
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-Makes-All-Cash-Proposal-to-Acquire-Full-Ownership-of-Turquoise-Hill)
we had made a non-binding proposal to the Turquoise Hill Board to acquire the
approximately 49% of the issued and outstanding shares of Turquoise Hill that
Rio Tinto does not currently own. The proposed acquisition price is C$34 per
share which values Turquoise Hill minority shareholdings at US$2.7 billion.
• Titanium dioxide slag production of 273 thousand tonnes was 2%
lower than the first quarter of 2021 as a result of equipment reliability
issues at Rio Tinto Fer et Titane (RTFT), Canada, partly offset by continuing
ramp up at Richards Bay Minerals (RBM) in South Africa. On 18 March, we
announced
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-ends-force-majeure-at-Richards-Bay-Minerals)
the lifting of force majeure on customer contracts at RBM, that had been in
place since 30 June 2021.
• Production of pellets and concentrate at Iron Ore Company of
Canada (IOC) was 3% higher than the first quarter of 2021, which was impacted
by mine feed constraints. There is good progress on the initiation of Rio
Tinto Safe Production System (RTSPS) at the concentrator.
• In the first quarter, we initiated seven more deployments of the
RTSPS at five sites focusing on sustainably unlocking capacity across the Rio
Tinto system. We are already seeing promising results for example at West
Angelas achieving the best effective utilisation of its production drills
across Pilbara iron ore.
• On 29 March, we announced
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-completes-acquisition-of-Rincon-lithium-project)
the completion of the acquisition of the Rincon lithium project for $825
million, following approval from Australia's Foreign Investment Review Board.
Rincon is a large undeveloped lithium brine project located in Argentina - the
heart of the Latin American lithium triangle.
• In the first quarter, we entered into partnerships and progressed
initiatives to accelerate decarbonising our own business and the value chains
we operate. These include an agreement with the Tasmanian Government to
jointly investigate how the Bell Bay smelter can help support the development
of new industries, and with the US Department of Energy who have provided
funding for a Rio Tinto-led team to explore carbon storage potential at the
Tamarack nickel joint venture in central Minnesota.
• On 8 April, we released
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-details-13,-d-,3-billion-of-taxes-and-royalties-paid-in-2021)
Taxes Paid: Our Economic Contribution 2021, showing that we made a total
direct economic contribution of $66.6 billion in the countries and communities
where we operate and paid $13.3 billion of taxes and royalties.
• On 24 February, we announced
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-Board-Change) that
Hinda Gharbi is stepping down as a non-executive director at the conclusion of
the Rio Tinto plc AGM on 8 April 2022 to join Bureau Veritas, initially as
Chief Operating Officer and transitioning in 2023 to the position of Chief
Executive Officer.
• On 6 March, we announced
(https://www.riotinto.com/news/releases/2022/Settlement-with-the-Australian-Securities-and-Investment-Commission)
that we had reached a settlement with the Australian Securities and Investment
Commission (ASIC) regarding the disclosure of the impairment of Rio Tinto Coal
Mozambique, which was reflected in Rio Tinto's 2012 year-end accounts. As part
of this court approved settlement between ASIC and Rio Tinto, there were no
findings of fraud or any systemic or widespread failure by Rio Tinto.
• We continue to offer support to our team members of Ukrainian and
Russian heritage and we have committed $5 million to humanitarian agencies. We
are in the process of terminating commercial relationships with Russian
businesses, while also ensuring the well being of our people, our contribution
to communities, and the continued safe operation of our businesses. As a
result of the Australian Government's sanction measures, we have taken on 100%
of the capacity and governance of Queensland Alumina Limited (QAL) until
further notice. QAL is 80% owned by Rio Tinto and 20% owned by Rusal. Our
focus remains on ensuring the continued safe operation of QAL, as a
significant employer and contributor to the local Gladstone and Queensland
economies.
• 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.
2022 production guidance
Rio Tinto share, unless otherwise stated 2021 Actuals Q1 2022 Actuals 2022
Unchanged
Pilbara iron ore(1) (shipments, 100% basis) (Mt) 322 71.5 320 to 335
Bauxite (Mt) 54 14 54 to 57
Alumina (Mt) 7.9 1.9 8.0 to 8.4
Aluminium (Mt) 3.2 0.7 3.1 to 3.2
Mined copper (kt) 494 125 500 to 575
Refined copper (kt) 202 55 230 to 290
Diamonds(2) (M carats) 3.8 1.0 5.0 to 6.0
Titanium dioxide slag (Mt) 1.0 0.3 1.1 to 1.4
IOC(3) iron ore pellets and concentrate (Mt) 9.7 2.4 10.0 to 11.0
Boric oxide equivalent (Mt) 0.5 0.1 ~0.5
(1)Pilbara shipments guidance remains subject to risks around commissioning
and ramp-up of new mines and management of cultural heritage.
(2)Reflects 100% ownership of Diavik (previously 60%) from 1st November 2021.
(3)Iron Ore Company of Canada.
• Iron ore shipments and bauxite production guidance remain subject
to weather and market conditions.
• Our guidance assumes development of the pandemic does not lead to
government-imposed restrictions and widespread protracted cases related to new
highly contagious variants with high severity, which could result in a
significant number of our production critical workforce and contractor base
being unable to work due to illness and/or isolation requirements. This risk
extends to prolonged interruption of service from a key partner or supplier
which could lead to severely constrained operational activity of a key asset
or project. This risk is exacerbated globally by tight labour markets and
supply chain delays.
• Pilbara shipments guidance remains subject to commissioning and
ramp up of Gudai-Darri and the Robe Valley wet plant, and management of
cultural heritage, including any impacts from the Aboriginal Cultural Heritage
Act 2021. Given the quality of our resource, we retain a range of development
options in the Pilbara, subject to heritage and environmental approvals.
Operating costs
• Pilbara iron ore 2022 unit cost guidance of $19.5-$21.0 per tonne
remains unchanged. Operating cost guidance is based on A$:US$ exchange rate of
0.75 and exclude any additional COVID-19 response costs.
• Copper C1 unit cost guidance in 2022 is unchanged at 130-150 US
cents/lb.
Investments, growth and development projects
• We continue to proactively manage COVID-19 and prioritise work
across critical projects. Capital expenditure for 2022 for our existing
operations remains unchanged at around $8.0 billion, excluding any impact of
the Rincon acquisition. The 2022 estimate takes into account potential
increases of around 15% for the Pilbara replacement projects, as previously
guided in the full year financial release. Capital expenditure for 2023 and
2024 is still expected to be between $9.0 and $10.0 billion, which includes
the ambition to invest up to $3.0 billion in growth per year, depending on
opportunities.
• Exploration and evaluation expense in the first quarter of 2022
was $168 million, $10 million (7%) higher than the first quarter of 2021, with
continued ramp up of activities in Guinea and Australia.
Pilbara mine projects
• Commissioning and ramp up of Pilbara growth and brownfield mine
replacement projects has continued to be impacted by resource shortages and
supply chain quality issues including steel fabrication quality at Gudai-Darri
and early commissioning failures at Robe Valley, compounded by COVID-19 and
isolation requirements as cases in Western Australia increased following the
easing of border restrictions in March.
• At Gudai-Darri, improved project performance during the quarter
has seen a number of facilities progressed through to construction completion
and in to commissioning stages. First ore via the main plant is still forecast
in the second quarter of 2022.
• At Robe Valley, ongoing wet plant commissioning challenges
continues to impact production ramp up. The wet plant at Mesa A is operating
at reduced capacity ahead of some planned component replacement in the third
quarter.
Oyu Tolgoi underground project(1)
Technical progress
• Commencement of undercut operations was achieved in January
following Oyu Tolgoi Board approval to commence underground mining operations.
Construction progress continued to be impacted by COVID-19 during the quarter
with an increase in on-site COVID-19 cases in January reducing workforce
availability to approximately 55% of planned requirements. Workforce levels
have since improved to between 70% and 90% of planned requirements. The impact
on project costs of the additional restrictions related to COVID-19 to the end
of March is estimated to be $195 million ($20 million in the first quarter).
Commissioning of the Materials Handling System 1 was completed in February.
• At the end of March, shaft 4 sinking recommenced with sinking
advancement now at 181 metres below ground level and shaft 3 sinking
commenced. The delay to the commissioning of shafts 3 and 4 is still expected
to be approximately nine months per prior guidance based on known COVID-19
impacts to date. This delay has no impact on Panel 0 sustainable production
with Panels 1 and 2 study work underway.
Other updates
• On 25 January, we announced
(https://www.riotinto.com/news/releases/2022/Oyu-Tolgoi-partners-reach-comprehensive-agreement-and-approve-commencement-of-underground-mining-operations)
we had reached agreement with Turquoise Hill Resources and the Government of
Mongolia to move the Oyu Tolgoi project forward, resetting the relationship
between the partners and increasing the value the project delivers for
Mongolia. This step unlocks the most valuable part of the mine, with first
sustainable production expected in the first half of 2023.
• A reforecast is underway to determine a revised cost and schedule
estimate that will reflect: any further COVID-19 impacts; any additional
time-based impacts and market price escalation arising from resequencing due
to 2021 budget constraints (as a result of the Oyu Tolgoi Board not approving
the capital budget uplift at the time the Definitive Estimate was finalised);
and updated risk ranging reflecting the latest project execution risks. The
market will be updated on any associated impacts in due course.
• The Oyu Tolgoi Board has approved the Electricity Supply Agreement
to provide Oyu Tolgoi with a long-term source of power from the Mongolian
grid, under terms already agreed with the Government of Mongolia. An agreement
in-principle has been reached between the National Power Transmission Grid
(NPTG) and the Inner Mongolia Power International Cooperation Company (IMPIC)
for an extension of current power import arrangements from China. This is for
a three-year fixed term extension to 2026, followed by an extension to up to
2030, if required (the current agreement expires in July 2023). Outstanding
commercial terms are in the process of being finalised.
• On 14 March, we announced
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-Makes-All-Cash-Proposal-to-Acquire-Full-Ownership-of-Turquoise-Hill)
we had made a non-binding proposal to the Turquoise Hill Board to acquire the
approximately 49% of the issued and outstanding shares of Turquoise Hill that
Rio Tinto does not currently own. This proposal values the Turquoise Hill
minority share capital at approximately US$2.7 billion.
• Rio Tinto and Oyu Tolgoi continue to work closely with the
Technical Working Group established by the Government to progress the
feasibility study.
Other key projects and exploration and evaluation
• The Zulti South project in South Africa remains on full
suspension.
• At the Kemano hydropower tunnel project in British Columbia,
Canada, the tunnel boring machine has been dismantled and removed from the
tunnel. The project has seen a reduction in on-site COVID-19 cases during the
quarter and project completion remains on schedule for the second half of
2022.
• At the Resolution Copper project in Arizona, we continue to work
with the US Forest Service to ensure republication of the Final Environmental
Impact Statement (EIS). We continue to engage with Native American Tribes and
local communities, and mine studies have progressed in parallel.
• At the Winu project in Western Australia, planned drilling,
fieldwork and study activities continue. We are working through the
environmental and cultural heritage aspects of the project in advance of
submitting the necessary regulatory request. We remain focused on building
transparent, credible and trusting relationships with our Traditional Owner
partners. Timelines to sanction and first production will be disclosed on
completion of relevant agreements and permitting processes.
• At the Simandou iron ore project in Guinea, a framework agreement
setting out co-development of port and rail infrastructure was signed by
Simfer S.A (the joint venture through which Rio Tinto has a 45% interest in
the project) on 25 March with Winning Consortium Simandou (WCS) and the
Government of Guinea. In May, the Rio Tinto Board provided in-principle
approval of this path forward and we continue to progress jointly with WCS to
deliver a definitive agreement within 60 days of the framework agreement. We
remain committed to delivering Simandou in accordance with international ESG
standards, ensuring that the project results in sustainable benefits to Guinea
and its people, along with our shareholders and customers.
• At the Jadar lithium-borate project in Serbia, we remain committed
to exploring all options and are reviewing the implications for our activities
and our people in Serbia. We acknowledge the concerns from local communities
and are committed to meaningful engagement to explore ways to address these.
• On 2 February, we note
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-notes-ERA-update-on-Ranger-mine)
d
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-notes-ERA-update-on-Ranger-mine)
Energy Resources of Australia Ltd (ERA) release of the preliminary findings
from its reforecast of the cost and schedule for the Ranger rehabilitation
project in Australia's Northern Territory, which have been subject to
independent review (www.energyres.com.au). Rio Tinto is reviewing the
preliminary findings of this reforecast and has advised ERA that it is
committed to ensure the rehabilitation of the Ranger Project Area is
successfully achieved to a standard that will establish an environment similar
to the adjacent Kakadu National Park.
(1)Project baseline reporting is against the 2020 Definitive Estimate. Oyu
Tolgoi LLC's updated Mongolian Feasibility Study incorporating the Definitive
Estimate schedule, costs and refined Panel 0 mine design is subject to review
and approval pursuant to Mongolian regulatory requirements. The definitive
estimate assumed COVID-19 restrictions in 2021 that were no more stringent
than those experienced in September 2020 and noted that should COVID-19
constraints continue beyond 2021 or should the COVID-19 situation escalate
further in 2021 leading to tougher restrictions, additional costs and schedule
impacts would arise. Since the definitive estimate, at the end of 2020,
Mongolia implemented additional restrictions in response to community
transmission cases, and in March 2021 the first cases of COVID-19 were
identified at Oyu Tolgoi resulting in temporary site shutdown, quarantine
measures and further travel and movement restrictions. The impact of these and
other additional restrictions, which have continued throughout this period and
are beyond those experienced in September 2020, is ongoing. To date, the
impact on project costs of the additional restrictions experienced to 31 March
2022 is estimated to be $195 million. Additional costs and schedule impacts
continue to be incurred and the final impact is still to be determined. A
revised schedule forecast is in progress to assess the overall impact of
additional COVID-19 restrictions and the re-sequencing of procurement and
construction works arising from restricted budgets in 2021.
Sustainability highlights
We continue to focus on becoming a more outward-looking and humane company,
ensuring that everyone at Rio Tinto can count on a safe, respectful and
inclusive workplace. On 1 February, we p
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-releases-external-review-of-workplace-culture)
ublished
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-releases-external-review-of-workplace-culture)
a comprehensive external review of our workplace culture, commissioned as part
of our commitment to ensure sustained cultural change across our global
operations. The review, which was carried out by former Australian Sex
Discrimination Commissioner Elizabeth Broderick, is part of the work being
undertaken by Rio Tinto's Everyday Respect task force, which was launched in
March 2021 to better understand, prevent and respond to harmful behaviours in
the workplace.
As part of our commitment to fostering a more inclusive, fulfilling and
diverse workplace, on 10 March, we announced improvements to our minimum
global paid parental leave standards for employees, by removing distinctions
between primary and secondary carers so that all new parents are eligible for
18 weeks paid parental leave. The benefits will be rolled out over the course
of 2022/2023 and will be adjusted according to local regulations, customs and
context.
Communities & Social Performance (CSP)
We have established an internal global Indigenous Coordination Committee (ICC)
to advance, align and promote the company's approach and strategy for
Indigenous and other land connected peoples. The ICC meets monthly and
comprises senior representatives from CSP, Indigenous Affairs Australia,
External Affairs and Legal in addition to the Product Groups and Business
Units. Examples of ICC topics include: aligning North American and Australian
Indigenous strategies, sharing good practices in different geographies i.e.
ranger and tribal monitoring programs; social cultural heritage management
plans and monitoring external activities i.e. reconciliation in Canada and
Australia.
On 7 March, we announced
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-donates-A1,-d-,5-million-to-Queensland-and-New-South-Wales-flood-relief-and-recovery-efforts)
a donation of A$1.5 million to disaster relief and recovery efforts supporting
people affected by widespread floods in Queensland and New South Wales. We are
also offering immediate financial support to employees directly impacted by
the floods, as well as providing staff involved in recovery efforts with full
paid leave. In addition to this, the company will match any staff donations to
flood relief causes.
Key highlights in Australia from the quarter are outlined below, with further
information available on our website
(https://www.riotinto.com/sustainability/communities) .
Cultural heritage management
On 14 February, we announced
(https://www.riotinto.com/news/releases/2022/Yinhawangka-people-and-Rio-Tinto-agree-new-social-cultural-heritage-plan)
an agreement with the Yinhawangka Aboriginal Corporation on a new co-designed
management plan to ensure the protection of significant social and cultural
heritage values as part of our proposed development of the Western Range iron
ore project in the Pilbara region of Western Australia. The Social, Cultural
Heritage Management Plan is the result of strong collaboration over the past
year between the Yinhawangka people and Rio Tinto.
We continue work to improve our approach to social and cultural heritage
management with Traditional Owners in the Pilbara and we are engaging with
other Traditional Owner groups to develop similar plans.
On April 8, we welcomed the findings
(http://www.yinhawangka.com.au/yirra/?fbclid=IwAR301Y_kSp2ukqhw9mzrSQ110RiG7-4Q_c4Ikc-8F_Av2GifSyKuDE-BZ-I)
of an archaeological excavation led by Traditional Owners on a site at the
Channar operation in the Pilbara which affirmed the presence of the
Yinhawangka People in the region for more than 50,000 years. Rio Tinto
acknowledges the significance of the Yirra site and is committed to working in
partnership with the Yinhawangka People to ensure it is preserved for future
generations. We are planning to fund further Traditional Owner-led cultural
research and archaeological excavations.
On 14 March, we welcomed
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-welcomes-moves-to-strengthen-cultural-heritage-protection)
the release of a joint Commonwealth Government and First Nations Heritage
Protection Alliance Discussion Paper
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.awe.gov.au%2Fsites%2Fdefault%2Ffiles%2Fdocuments%2Fdiscussion-paper-modernisation-atsi.pdf&esheet=52596619&newsitemid=20220314005953&lan=en-US&anchor=Discussion+Paper&index=1&md5=adfdf35362aa9cd5d4f763aa414c0ad9)
designed to strengthen state and federal cultural heritage protection laws.
These reforms must ensure that Aboriginal and Torres Strait Islander peoples
are placed at the centre of decision-making on matters relating to protection
of their cultural heritage.
Australian Advisory Group (AAG)
We have established an AAG to provide guidance on current and emerging issues,
and better manage policies and positions that are important to both Australian
communities and our broader business. We have confirmed the inaugural
Chairperson as Professor Peter Yu, and other members include Michelle Deshong,
Nyadol Nyuon, Yarlalu Thomas, Djawa Yunupingu, Cris Parker and Shona Reid. The
first AAG meeting was held in March.
Climate change and our value chain
We progressed initiatives in the first quarter in line with our pathway to
decarbonise our business and actively develop technologies that will enable
our customers and our customers' customers to decarbonise.
• We continue to develop a phased plan for roll out of the 1GW of
renewables to support our Pilbara operations. We are working on the schedule
for deployment of distributed renewables (mix of wind and solar), completing
detailed design on the preferred sites for the first phase, progressing
engineering studies to integrate variable renewable capacity and storage with
our existing gas fired generation and engaging with Traditional Owners,
Western Australian Government and other key stakeholders to progress final
site selection and appropriate approvals.
• In the quarter, we established a small team to identify
opportunities to invest in nature-based solutions on or near our landholdings.
We will look for high quality, high integrity projects that could deliver
carbon offsets with biodiversity and community benefits. While we are
undertaking the urgent and immediate action required to decarbonise our
operations, we know this action alone will not be enough to meet our climate
commitments aligned with the Paris agreement. Our work to progress
nature-based solutions will complement our wider investment in decarbonisation
and is not a substitute for achieving emissions reductions at our mines and
smelters.
• Research work on the Low Carbon Research Project announced in
October 2021 is continuing. We are investigating iron making with Pilbara iron
ore fines using sustainable raw biomass as a coking coal replacement, and
microwaves as a highly efficient supplementary energy source. Initial testing
at a plant has resulted in the successful production of highly metallised
directly reduced iron with targeted levels of carbon, from the biomass. These
results have enabled us to progress the design of a larger scale continuous
pilot plant to further our research and development and assess the potential
of the process at commercial scale. In parallel, we continue to progress the
other five focus areas for iron and steel decarbonisation.
• On 20 February, we announced
(https://www.riotinto.com/news/releases/2022/Tasmania-and-Rio-Tinto-partner-for-a-strong-and-sustainable-future-at-Bell-Bay)
a partnership with the Tasmanian Government to jointly investigate how Bell
Bay Aluminum's smelting manufacturing capacity and electricity demand can help
support the development of new industries and more renewable energy supply in
the region. We also committed to explore how we could further decarbonise the
smelter and investigate options for future investment to secure the
competitiveness of the smelter.
• On 14 February, we announ
(https://www.riotinto.com/news/releases/2022/DOE-backs-Rio-Tinto-led-team-to-explore-carbon-storage-at-Tamarack)
ced
(https://www.riotinto.com/news/releases/2022/DOE-backs-Rio-Tinto-led-team-to-explore-carbon-storage-at-Tamarack)
that the US Department of Energy has awarded $2.2 million to a Rio Tinto led
team to explore carbon storage potential at the Tamarack nickel joint venture
in central Minnesota. We have assembled a team of climate innovation and
research leaders to explore new approaches in carbon mineralisation technology
as a way to safely and permanently store carbon as rock. We will contribute $4
million in funding for the 3-year project, in addition to the funding from the
Department of Energy.
• On 29 March, we announced
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-commissions-new-aluminium-remelt-furnace-at-Laterrire-Plant-)
the commissioning of a new remelt furnace at our Laterrière Plant, adding
22,000 metric tons of recycling capacity to our aluminium operations in the
Saguenay, Lac-Saint-Jean region of Quebec. The $8.4 million project has been
completed over two years and will enable the development of new sustainable
products combining low-carbon and recycled aluminium for customers in the
North American market. The remelt furnace is equipped with highly efficient
burners to minimise its carbon footprint.
Our markets
Economic growth and commodity demand started positively this year as the world
continues to recover from the pandemic downturn. However, market expectations
have been revised downwards amidst sustained high inflation, the outbreak of
the Russia-Ukraine war, and a resurgence of COVID-19 lockdowns in China.
Further downside risks include a prolonged war and other geopolitical
tensions, extended labour and supply shortages, and monetary policy
adjustments to curb inflation.
• Commodity prices have been elevated due to actual and expected
disruptions to supply. We expect commodity demand to be underpinned by the
global energy transition which is creating new demand for our products and
near-term Chinese policies that are becoming more growth focused. Recent input
cost increases are the largest raw material cost hike since the Oil Crisis in
1973. Rising interest rates globally pose downside risks to economic growth.
• China is transitioning from tightening to easing policies
following a slowdown in the second half of 2021, with mild pro-growth measures
in place to support property, infrastructure and consumption. Economic
stability remains a top priority this year amidst significant economic
headwinds, including COVID-19 restrictions. We expect China to continue to
finetune its policies to balance multiple priorities.
• In the United States, there has been a rebound in demand
post-Omicron and the labour market is extremely tight, leading to strong
income growth. However, the Fed has started to tighten monetary policy to
combat sustained high inflation, raising concerns of an economic slowdown if
interest rates are raised too quickly in a short period.
• The economic recovery in the Eurozone has been dampened by
escalating conflict and further decoupling from the Russian economy. Inflation
hit record highs, up from 5.9% in February to 7.5% in March, with a strong
acceleration in energy and food components. The auto industry has also been
impacted by increasing supply chain issues arising from the war.
• Iron ore prices have been volatile, with the Platts 62% Fe index
up 33% at the end of the first quarter ($158/dmt). Since late February, supply
concerns due to the war in Ukraine has outweighed muted demand growth and a
crackdown on speculative trading behaviour in China. China's economy is
getting a boost with infrastructure spending, but COVID-19 lockdowns pose
downside risks to near-term construction activity.
• The aluminium LME price was volatile ending up 25% at the end of
the first quarter, and above $3,500/t, supported by disruptions from the
Russia-Ukraine war, high energy prices and supply tightness in Europe and
China. The price hit a record high of almost $4,000/t on 7 March as fear
gripped the market that supply from Russia will become inaccessible. Tight
physical metal markets and low inventory levels have also supported increased
market premia across US and Europe during the first quarter.
• Copper has not experienced a price rally to the extent seen in
other base metals, although the price was up 7% at the end of the first
quarter ($4.69/lb). The global market continues to be tight, with exchange
stocks near 16-year lows, and is still susceptible to supply disruptions.
However, rising global production later in 2022 should help to offset
disruptions.
• Prices for key battery metals have continued to increase as strong
demand outpaces supply, amidst low spodumene feedstocks. Lithium carbonate
prices have more than doubled in the first quarter and seen a six-fold
increase year on year. Nevertheless, mine supply growth should pick up due to
the ramp up of idled mine capacity and new projects coming online, especially
in Australia.
IRON ORE
Rio Tinto share of production (Million tonnes) Q1 vs Q1 vs Q4
2021
2021
2022
Pilbara Blend and SP10 Lump(1) 17.1 -5 % -16 %
Pilbara Blend and SP10 Fines(1) 25.7 -9 % -20 %
Robe Valley Lump 1.1 -20 % -9 %
Robe Valley Fines 1.7 -22 % -16 %
Yandicoogina Fines (HIY) 14.5 +7 % +1 %
Total Pilbara production 60.1 -5 % -1 %
Total Pilbara production (100% basis) 71.7 -6 % -15 %
Rio Tinto share of shipments (Million tonnes) Q1 vs Q1 vs Q4
2021
2021
2022
Pilbara Blend Lump 10.8 -16 % -16 %
Pilbara Blend Fines 21.7 -24 % -11 %
Robe Valley Lump 0.7 -34 % -36 %
Robe Valley Fines 1.7 -28 % -23 %
Yandicoogina Fines (HIY) 14.5 +2 % +3 %
SP10 Lump(1) 3.4 +28 % -30 %
SP10 Fines(1) 7.5 +157 % -30 %
Total Pilbara shipments(2) 60.3 -7 % -14 %
Total Pilbara shipments (100% basis)(2) 71.5 -8 % -15 %
Total Pilbara Shipments (consolidated basis)(2, 3) 61.8 -7 % -14 %
1 SP10 includes other lower grade products.
2 Shipments includes material shipped from the Pilbara to our portside trading
facility in China which may not be sold onwards by the group in the same
period.
3 While Rio Tinto has a 53% net beneficial interest in Robe River Iron
Associates, it recognises 65% of the assets, liabilities, sales revenues and
expenses in its accounts (as 30% is held through a 60% owned subsidiary and
35% is held through a 100% owned subsidiary). The consolidated basis sales
reported here include Robe River Iron Associates on a 65% basis to enable
comparison with revenue reported in the financial statements.
Pilbara operations
Pilbara operations had a challenging first quarter, as expected, as ongoing
mine depletion was not offset by mine replacement projects, with delayed
commissioning of Gudai-Darri (first ore still forecast for the second quarter
of 2022) and ongoing commissioning challenges at the Mesa A wet plant
continuing to impact production ramp up at Robe Valley. COVID-19 constraints
impacted labour supply as we experienced increased cases on-site in the
Pilbara following the Western Australian border opening in March. First
quarter shipments of 71.5 million tonnes (Rio Tinto share 60.3 million tonnes)
were 8% lower than the first quarter of 2021. We produced 71.7 million tonnes
(Rio Tinto share 60.1 million tonnes) in the first quarter, 6% lower than the
corresponding period of 2021. We expect increased production volumes and
improved product mix in the second half with the commissioning and ramp up of
Gudai-Darri, commissioning of the Robe Valley wet plant and improved mine pit
health. Full year shipments guidance remains unchanged.
The focus on pit health and mine development activities delivered record first
quarter total material moved, with higher waste movement (+9% year on year)
and drill and blast volumes (+12% year on year). Deployment of the Rio Tinto
Safe Production System continues and we are seeing some promising results,
with improved drill and blast performance at West Angelas and improved fixed
plant performance at Yandicoogina. We are now focused on replicating the
improvements at West Angelas and Yandicoogina and commencing new deployments
at the Tom Price and Brockman 4 operations.
Approximately 11% of sales in the first quarter were priced by 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 on the spot
market. Approximately 31% of sales in the first quarter were made on a free on
board (FOB) basis, with the remainder sold including freight.
China Portside Trading
We continue to increase our iron ore portside sales in China, with 7.0 million
tonnes of sales in the first quarter of 2022 (1.8 million tonnes in the first
quarter of 2021). This included an inventory drawdown of 31% from the higher
levels at the end of 2021 due to elevated SP10 production volumes (11.4
million tonnes, including 8.8 million tonnes of Pilbara product). At 31 March,
inventory levels are 7.9 million tonnes, including 5.3 million tonnes of
Pilbara product. We continue to develop our partnerships with the Chinese
ports and grow our product screening and blending capabilities. In the first
quarter of 2022 approximately 70% of our portside sales were either screened
or blended in Chinese ports.
ALUMINIUM
Rio Tinto share of production ('000 tonnes) Q1 vs Q1 vs Q4
2021
2021
2022
Bauxite 13,625 0 % +4 %
Bauxite third party shipments 10,135 +12 % +13 %
Alumina 1,901 -7 % -1 %
Aluminium 736 -8 % -3 %
Bauxite
Bauxite production of 13.6 million tonnes was in line with the first quarter
of 2021 with similar wet weather disruptions as the corresponding period.
We shipped 10.1 million tonnes of bauxite to third parties in the first
quarter, 12% higher than the same period of 2021 with less direct shipping
interruptions from the major weather events.
Alumina
Alumina production of 1.9 million tonnes was 7% lower than the first quarter
of 2021, as a result of unplanned outages at our refineries.
As a result of the Australian Government's sanction measures, we have taken on
100% of the capacity and governance of Queensland Alumina Limited (QAL) until
further notice. QAL is 80% owned by Rio Tinto and 20% owned by Rusal. Our
focus remains on ensuring the continued safe operation of QAL, as a
significant employer and contributor to the local Gladstone and Queensland
economies.
Aluminium
Aluminium production of 0.7 million tonnes was 8% lower than the first quarter
of 2021 due to reduced capacity at our Kitimat smelter in British Columbia
following the strike which commenced in July 2021. The reduced capacity has
been partly offset by the continued stable performance across all remaining
smelters, despite considerable challenges related to unplanned employee
absences due to COVID-19.
Agreement with the labour union and employees was reached in October and
preparations continue for the Kitimat smelter to progressively restart from
June 2022 with full ramp up expected by the end of the year.
COPPER
Rio Tinto share of production ('000 tonnes) Q1 vs Q1 vs Q4
2021
2021
2022
Mined copper
Kennecott 47.1 +42 % -5 %
Escondida 68.2 -5 % -2 %
Oyu Tolgoi 10.2 -33 % -22 %
Refined copper
Kennecott 40.2 -11 % +58 %
Escondida 14.4 +3 % -1 %
Kennecott
Mined copper production was 42% higher than the first quarter of 2021, with
higher grades (+35%) and recoveries due to mining higher grade ores following
the transition into the south wall which was completed in 2021.
Refined copper production was 11% lower than the first quarter of 2021 due to
significant COVID-19 workforce impacts at the smelter. Refined copper
production was 58% higher than the prior quarter due to challenges with the
furnace failure and associated recovery last year.
On 1 April, we announced
(https://www.riotinto.com/news/releases/2022/New-labour-agreement-reached-for-Rio-Tinto-Kennecott-employees)
a new Collective Bargaining Agreement had been reached with unions
representing approximately 1,300 employees at the Kennecott operation. The new
five-year agreement was ratified through a vote by union members held on 31
March 2022, following seven weeks of constructive negotiations. This
agreement, effective 1 April 2022, delivers fair and competitive wages and
enhanced benefits for all represented Kennecott employees, and new pathways to
career progression.
Escondida
Mined copper production was 5% lower than the first quarter of 2021 mainly due
to 7% lower throughput as a result of COVID-19 workforce impacts, public road
blockades associated with social unrest and extension of ball mill planned
maintenance.
Oyu Tolgoi
Mined copper production from the open pit was 33% lower than the first quarter
of 2021 due to lower copper grades and recoveries as a result of planned mine
sequencing. A planned concentrator shutdown in February was completed safely
and successfully on schedule.
We continue to work closely with the Mongolian and Chinese authorities and our
customers to manage the risk of supply chain disruptions. Cross-border
concentrate shipments into China have resumed with measures in place to
transport greater volumes in a safe and efficient manner, however uncertainty
continues to exist with the rate of COVID-19 cases in Mongolia. The force
majeure declared on shipments from 30 March 2021 remains in place.
MINERALS
Rio Tinto share of production (million tonnes) Q1 vs Q1 vs Q4
2021
2021
2022
Iron ore pellets and concentrate
IOC 2.4 +3 % -4 %
Rio Tinto share of production ('000 tonnes) Q1 vs Q1 vs Q4
2021
2021
2022
Minerals
Borates - B(2)O(3) content 123 +1 % +5 %
Titanium dioxide slag 273 -2 % +20 %
Rio Tinto share of production ('000 carats) Q1 vs Q1 vs Q4
2021
2021
2022
Diavik(1) 991 -2 % -14 %
(1)Reflects 100% ownership of Diavik (previously 60%) from 1st November 2021.
Iron Ore Company of Canada (IOC)
Iron ore production was 3% higher than the first quarter of 2021, which was
impacted by mine feed constraints. There is good progress on the initiation of
Rio Tinto Safe Production System at the concentrator.
Borates
Borates production in the first quarter was 1% higher than the corresponding
period of 2021 with stable refinery operating rates following the successful
implementation of productivity initiatives supporting system stability. We
expect logistical challenges to continue with elevated congestion at the Port
of Los Angeles and shipping rate escalation. Labour availability is also
posing a threat to supply chain stability.
Iron and Titanium
Titanium dioxide production was 2% lower than the first quarter of 2021, but
20% higher than the prior quarter as a result of the restart at Richards Bay
Minerals (RBM) in South Africa and improved stability of operations at Rio
Tinto Fer et Titane (RTFT), Canada. RBM has continued its path to stable
operations following last year's disruptions and RTFT has made progress
addressing the equipment reliability issues in 2021. On 18 March, we announced
(https://www.riotinto.com/news/releases/2022/Rio-Tinto-ends-force-majeure-at-Richards-Bay-Minerals)
the lifting of force majeure on customer contracts at RBM, that had been in
place since 30 June 2021.
The province of KwaZulu-Natal in South Africa, where our RBM operation is
located, has experienced devastating floods in the past weeks. While the
Richards Bay area has been largely spared and our people are safe, our local
teams have set aside funds which will be used to support our partners in
managing this unfolding humanitarian crisis. Engagement with the relevant
authorities are underway to understand needs and priorities.
Diamonds
At Diavik, carats recovered in the first quarter were 2% lower than the first
quarter of 2021 due to lower availability of ore driven by significant impacts
from COVID-19 including unplanned employee absences, offset by an increased
share of production from November 2021. Processing throughput was also
impacted by an unplanned outage in the first quarter.
EXPLORATION AND EVALUATION
Pre-tax and pre-divestment expenditure on exploration and evaluation charged
to the income statement in the first quarter of 2022 was $168 million,
compared with $157 million in the first quarter of 2021. Approximately 41% of
this expenditure was incurred by Copper (includes Simandou), 34% by central
exploration, 15% by Minerals and 10% by Iron Ore.
There were no significant divestments of central exploration properties in the
first quarter of 2022.
Exploration highlights
Rio Tinto has a strong portfolio of projects with activity in 18 countries
across seven commodities in early exploration and studies stages. All projects
have followed government COVID-19 requirements and guidelines while focusing
on protecting well-being and health of local communities. The bulk of the
exploration expenditure in the first quarter focused on copper in Australia,
Chile, Colombia, Peru and Zambia, diamonds projects in Canada, and nickel
projects in Finland and Canada. Mine-lease exploration continued at Rio Tinto
managed businesses including Pilbara Iron in Australia and Diavik in Canada.
Activities on the ground at the Falcon diamonds project in Saskatchewan,
Canada are limited to care and maintenance while Rio Tinto continues to carry
out studies and review information acquired in previous programmes.
A summary of activity for the quarter is as follows:Commodities Studies Stage Advanced projects Greenfield/ Brownfield programmes
Bauxite Amargosa, Brazil*, Melville Island, Australia
Sanxai, Laos* Cape York, Australia
Battery Materials Lithium: Rincon, Nickel Greenfield: Canada, Finland
Lithium borates: Jadar, Serbia Lithium Greenfield: US, Australia
Nickel: Tamarack, US (3rd party operated)
Copper Copper/molybdenum: Resolution, US Copper: La Granja, Peru, Pribrezhniy, Kazakhstan Copper Greenfield: Australia, Brazil, Canada, Chile, China, Colombia, Finland,
Kazakhstan, Namibia, Nicaragua, Peru, Serbia, US, Zambia
Copper/Gold: Winu, Australia Calibre-Magnum, Australia
Diamonds Falcon, Canada* Diamonds Greenfield: Canada, Angola
Diamonds Brownfield: Diavik
Iron Ore Pilbara, Australia Pilbara, Australia Greenfield and Brownfield: Pilbara, Australia
Simandou, Guinea
Minerals Potash: KL262, Canada Heavy mineral sands Greenfield: South Africa
Heavy mineral sands: Mutamba, Mozambique
*Limited activity during the quarter
FORWARD-LOOKING STATEMENT
This announcement includes "forward-looking statements" within the meaning of
the 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 financial position, business
strategy, plans and objectives of management for future operations (including
development plans and objectives relating to Rio Tinto's products, production
forecasts and reserve and resource positions and any statements related to the
ongoing impact of the COVID-19 pandemic), are forward-looking statements. The
words "intend", "aim", "project", "anticipate", "estimate", "plan",
"believes", "expects", "may", "would", "should", "could", "will", "target",
"set to", "seek", "risk" 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 results, performance or
achievements of Rio Tinto, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Such forward-looking statements are based on
numerous assumptions regarding Rio Tinto's present and future business
strategies and the environment in which Rio Tinto will operate in the future.
Among the important factors that could cause Rio Tinto's actual results,
performance or achievements to differ materially from those in the
forward-looking statements are levels of actual production during any period,
levels of demand and market prices, the ability to produce and transport
products profitably, the impact of foreign currency exchange rates on market
prices and operating costs, operational problems, political uncertainty and
economic conditions in relevant areas of the world, the actions of
competitors, activities by governmental authorities such as changes in
taxation or regulation, the risks and uncertainties associated with the
ongoing impacts of COVID-19 or other pandemic and such other risk factors
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. The above list is not exhaustive.
Forward-looking statements should, therefore, be construed in light of such
risk factors and undue reliance should not be placed on forward-looking
statements, particularly in light of the current economic climate and the
significant volatility, uncertainty and disruption caused by the outbreak of
COVID-19. 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
Guidance 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.
Contacts Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, UK Media Relations, Australia
Illtud Harri Jonathan Rose
M +44 7920 503 600 M +61 447 028 913
David Outhwaite Matt Chambers
M +44 7787 597 493 M +61 433 525 739
Media Relations, Americas Jesse Riseborough
M +61 436 653 412
Matthew Klar
T +1 514 608 4429
Investor Relations, UK Investor Relations, Australia
Menno Sanderse Menno Sanderse
M +44 7825 195 178 M +44 7825 195 178
David Ovington Amar Jambaa
M +44 7920 010 978 M +61 472 865 948
Clare Peever
M: +44 7788 967 877
Rio Tinto plc Rio Tinto Limited
6 St James's Square Level 7, 360 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 Steve Allen, Rio
Tinto's Group Company Secretary.
riotinto.com
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Classification: 3.1 Additional regulated information required to be disclosed
under the laws of a Member State
Rio Tinto production summary
Rio Tinto share of production
Quarter Full Year % change
2021 2021 2022 2021 Q1 22 Q1 22
Q1 Q4 Q1 vs vs
Q1 21 Q4 21
Principal commodities
Alumina ('000 t) 2,034 1,911 1,901 7,894 -7 % -1 %
Aluminium ('000 t) 803 757 736 3,151 -8 % -3 %
Bauxite ('000 t) 13,566 13,095 13,625 54,326 0 % +4 %
Borates ('000 t) 122 117 123 488 +1 % +5 %
Copper - mined ('000 t) 120.5 132.3 125.5 493.5 +4 % -5 %
Copper - refined ('000 t) 59.2 40.0 54.7 201.9 -8 % +37 %
Diamonds ('000 cts) 1,007 1,155 991 3,847 -2 % -14 %
Iron Ore ('000 t) 65,681 72,561 62,465 276,557 -5 % -14 %
Titanium dioxide slag ('000 t) 279 228 273 1,014 -2 % +20 %
Other Metals & Minerals
Gold - mined ('000 oz) 96.4 73.9 68.5 344.9 -29 % -7 %
Gold - refined ('000 oz) 56.8 31.5 32.2 176.4 -43 % +2 %
Molybdenum ('000 t) 5.0 1.1 1.1 7.6 -79 % -1 %
Salt ('000 t) 1,411 1,471 1,595 5,848 +13 % +8 %
Silver - mined ('000 oz) 1,005 1,108 1,012 4,148 +1 % -9 %
Silver - refined ('000 oz) 812 516 577 2,671 -29 % +12 %
Throughout this report, figures in italics indicate adjustments made since the
figure was previously quoted on the equivalent page or reported for the first
time. 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 Q1 Q2 Q3 Q4 Q1 Full Year
interest
2021
2021
2021
2021
2022
2021
ALUMINA
Production ('000 tonnes)
Jonquière (Vaudreuil) 100 % 352 349 325 338 334 1,364
Jonquière (Vaudreuil) specialty Alumina plant 100 % 22 28 29 28 25 107
Queensland Alumina 80 % 743 756 738 727 704 2,964
São Luis (Alumar) 10 % 95 97 75 99 94 366
Yarwun 100 % 822 782 770 719 745 3,093
Rio Tinto total alumina production 2,034 2,012 1,937 1,911 1,901 7,894
ALUMINIUM
Production ('000 tonnes)
Australia - Bell Bay 100 % 46 47 48 48 46 189
Australia - Boyne Island 59 % 74 75 75 75 73 298
Australia - Tomago 52 % 75 75 77 78 75 305
Canada - six wholly owned 100 % 385 391 343 325 318 1,444
Canada - Alouette (Sept-Îles) 40 % 62 63 64 63 62 251
Canada - Bécancour 25 % 28 29 29 30 28 116
Iceland - ISAL (Reykjavik) 100 % 49 51 52 52 50 203
New Zealand - Tiwai Point 79 % 65 65 67 67 66 264
Oman - Sohar 20 % 20 20 20 20 19 79
Rio Tinto total aluminium production 803 816 774 757 736 3,151
BAUXITE
Production ('000 tonnes) (a)
Gove 100 % 2,879 3,030 3,067 2,787 3,093 11,763
Porto Trombetas 12 % 254 364 332 416 240 1,366
Sangaredi (b) 1,887 1,755 1,763 1,704 1,765 7,109
Weipa 100 % 8,545 8,550 8,805 8,188 8,527 34,088
Rio Tinto total bauxite production 13,566 13,699 13,967 13,095 13,625 54,326
(a) 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.
(b) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits
from 45.0% of production.
Rio Tinto share of production
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
interest
2021
2021
2021
2021
2022
2021
BORATES
Production ('000 tonnes B(2)O(3) content)
Rio Tinto Borates - borates 100 % 122 126 123 117 123 488
COPPER
Mine production ('000 tonnes) (a)
Bingham Canyon 100 % 33.2 33.7 42.8 49.7 47.1 159.4
Escondida 30 % 72.1 69.5 68.4 69.6 68.2 279.5
Oyu Tolgoi (b) 34 % 15.2 12.3 14.1 13.0 10.2 54.6
Rio Tinto total mine production 120.5 115.5 125.2 132.3 125.5 493.5
Refined production ('000 tonnes)
Escondida 30 % 14.0 15.3 14.7 14.5 14.4 58.6
Rio Tinto Kennecott (c) 100 % 45.2 36.9 35.7 25.5 40.2 143.3
Rio Tinto total refined production 59.2 52.3 50.5 40.0 54.7 201.9
(a) 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.
(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79%
interest in Turquoise Hill Resources Ltd.
(c) We continue to process third party concentrate to optimise smelter
utilisation, including 1.3 thousand tonnes of cathode produced from purchased
concentrate in year-to-date 2022. Purchased and tolled copper concentrates are
excluded from reported production figures and production guidance. Sales of
cathodes produced from purchased concentrate are included in reported
revenues.
DIAMONDS
Production ('000 carats)
Diavik (a) 100 % 1,007 851 834 1,155 991 3,847
(a) On 17 November 2021, Rio Tinto's ownership interest in Diavik increased
from 60% to 100%. Production is reported including this change from 1 November
2021.
GOLD
Mine production ('000 ounces) (a)
Bingham Canyon 100 % 36.2 30.5 38.1 34.7 37.8 139.5
Escondida 30 % 11.4 11.7 12.6 12.9 10.9 48.5
Oyu Tolgoi (b) 34 % 48.8 37.9 43.8 26.3 19.8 156.9
Rio Tinto total mine production 96.4 80.1 94.5 73.9 68.5 344.9
Refined production ('000 ounces)
Rio Tinto Kennecott 100 % 56.8 43.6 44.5 31.5 32.2 176.4
(a) 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.
(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79%
interest in Turquoise Hill Resources Ltd.
Rio Tinto share of production
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
interest 2021 2021 2021 2021 2022 2021
IRON ORE
Production ('000 tonnes) (a)
Hamersley mines (b) 49,313 50,333 55,634 55,049 47,678 210,329
Hope Downs 50 % 5,616 5,960 6,500 6,567 5,830 24,642
Iron Ore Company of Canada 59 % 2,345 2,721 2,163 2,498 2,404 9,727
Robe River - Pannawonica (Mesas J and A) 53 % 3,506 3,090 3,721 3,196 2,774 13,514
Robe River - West Angelas 53 % 4,900 4,137 4,056 5,252 3,779 18,345
Rio Tinto iron ore production ('000 tonnes) 65,681 66,241 72,074 72,561 62,465 276,557
Breakdown of Production:
Pilbara Blend and SP10 Lump (c) 18,050 18,265 19,742 20,374 17,081 76,431
Pilbara Blend and SP10 Fines (c) 28,245 28,796 30,825 32,081 25,658 119,947
Robe Valley Lump 1,307 1,219 1,423 1,152 1,051 5,102
Robe Valley Fines 2,199 1,871 2,297 2,044 1,724 8,412
Yandicoogina Fines (HIY) 13,534 13,369 15,623 14,412 14,548 56,938
Pilbara iron ore production ('000 tonnes) 63,336 63,520 69,910 70,063 60,061 266,830
IOC Concentrate 871 1,154 829 1,009 962 3,863
IOC Pellets 1,474 1,567 1,335 1,489 1,442 5,864
IOC iron ore production ('000 tonnes) 2,345 2,721 2,163 2,498 2,404 9,727
Breakdown of Shipments:
Pilbara Blend Lump 12,842 12,830 13,018 12,832 10,809 51,522
Pilbara Blend Fines 28,565 27,795 28,901 24,308 21,698 109,569
Robe Valley Lump 1,025 934 962 1,061 675 3,981
Robe Valley Fines 2,402 2,190 2,567 2,237 1,731 9,395
Yandicoogina Fines (HIY) 14,222 13,640 14,906 14,121 14,487 56,889
SP10 Lump (c) 2,664 3,748 4,826 4,841 3,397 16,078
SP10 Fines (c) 2,923 2,817 4,063 10,684 7,497 20,487
Pilbara iron ore shipments ('000 tonnes) (d) 64,642 63,953 69,242 70,084 60,295 267,921
Pilbara iron ore shipments - consolidated basis ('000 tonnes) (d) (f) 66,431 65,627 71,131 71,972 61,818 275,161
IOC Concentrate 1,019 1,048 1,054 989 600 4,110
IOC Pellets 1,477 1,303 1,374 1,711 1,412 5,865
IOC Iron ore shipments ('000 tonnes) (d) 2,496 2,352 2,428 2,700 2,012 9,976
Rio Tinto iron ore shipments ('000 tonnes) (d) 67,137 66,305 71,671 72,784 62,307 277,897
Rio Tinto iron ore sales ('000 tonnes) (e) 65,551 67,145 70,967 69,489 66,683 273,153
(a) 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.
(b) Includes 100% of production from Paraburdoo, Mt Tom Price, Western Turner
Syncline, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass, Channar 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. Rio Tinto's ownership interest in Channar mine increased from
60% to 100%, following conclusion of its joint venture with Sinosteel
Corporation upon reaching planned 290 million tonnes production on 22 October
2020. Historic data remains unchanged.
(c) SP10 includes other lower grade products.
(d) Shipments includes material shipped to our portside trading facility in
China which may not be sold onwards in the same period.
(e) Represents the difference between amounts shipped to portside trading and
onward sales from portside trading, and third party volumes sold.
(f) While Rio Tinto has a 53% net beneficial interest in Robe River Iron
Associates, it recognises 65% of the assets, liabilities, sales revenues and
expenses in its accounts (as 30% is held through a 60% owned subsidiary and
35% is held through a 100% owned subsidiary). The consolidated basis sales
reported here include Robe River Iron Associates on a 65% basis to enable
comparison with revenue reported in the financial statements.
Rio Tinto share of production
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
interest 2021 2021 2021 2021 2022 2021
MOLYBDENUM
Mine production ('000 tonnes) (a)
Bingham Canyon 100 % 5.0 1.1 0.4 1.1 1.1 7.6
(a) 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.
SALT
Production ('000 tonnes)
Dampier Salt 68 % 1,411 1,458 1,508 1,471 1,595 5,848
SILVER
Mine production ('000 ounces) (a)
Bingham Canyon 100 % 524 476 639 589 561 2,228
Escondida 30 % 395 370 387 439 381 1,591
Oyu Tolgoi (b) 34 % 85 79 84 80 71 328
Rio Tinto total mine production 1,005 925 1,110 1,108 1,012 4,148
Refined production ('000 ounces)
Rio Tinto Kennecott 100 % 812 609 733 516 577 2,671
(a) 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.
(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79%
interest in Turquoise Hill Resources Ltd.
TITANIUM DIOXIDE SLAG
Production ('000 tonnes)
Rio Tinto Iron & Titanium (a) 100 % 279 298 209 228 273 1,014
(a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74%
interest in Richards Bay Minerals (RBM).
ERA ceased processing operations on 8 January 2021, as required by the Ranger
Authority. No data for these operations are included in the Share of
production table.
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 percentage interest shown above is at 31 March 2022.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
interest
2021
2021
2021
2021
2022
2021
ALUMINA
Smelter Grade Alumina - Aluminium Group
Alumina production ('000 tonnes)
Australia
Queensland Alumina Refinery - Queensland 80 % 929 945 922 909 880 3,705
Yarwun refinery - Queensland 100 % 822 782 770 719 745 3,093
Brazil
São Luis (Alumar) refinery 10 % 953 968 748 993 940 3,662
Canada
Jonquière (Vaudreuil) refinery - Quebec (a) 100 % 352 349 325 338 334 1,364
(a) Jonquière's (Vaudreuil's) production shows smelter grade alumina only and
excludes hydrate produced and used for specialty alumina.
Speciality Alumina - Aluminium Group
Speciality alumina production ('000 tonnes)
Canada
Jonquière (Vaudreuil) plant - Quebec 100 % 22 28 29 28 25 107
Rio Tinto percentage interest shown above is at 31 March 2022. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
interest 2021 2021 2021 2021 2022
ALUMINIUM
Primary Aluminium
Primary aluminium production ('000 tonnes)
Australia
Bell Bay smelter - Tasmania 100 % 46 47 48 48 46 189
Boyne Island smelter - Queensland 59 % 124 127 125 126 123 502
Tomago smelter - New South Wales 52 % 145 146 150 150 145 592
Canada
Alma smelter - Quebec 100 % 117 117 119 119 117 471
Alouette (Sept-Îles) smelter - Quebec 40 % 155 157 159 157 154 629
Arvida smelter - Quebec 100 % 40 42 42 43 42 168
Arvida AP60 smelter - Quebec 100 % 15 15 15 15 14 60
Bécancour smelter - Quebec 25 % 112 117 115 119 111 463
Grande-Baie smelter - Quebec 100 % 56 57 58 58 57 230
Kitimat smelter - British Columbia 100 % 95 97 46 25 25 263
Laterrière smelter - Quebec 100 % 62 63 63 64 63 252
Iceland
ISAL (Reykjavik) smelter 100 % 49 51 52 52 50 203
New Zealand
Tiwai Point smelter 79 % 82 82 84 85 83 333
Oman
Sohar smelter 20 % 98 99 100 100 97 395
Rio Tinto percentage interest shown above is at 31 March 2022. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
interest 2021 2021 2021 2021 2022
BAUXITE
Bauxite production ('000 tonnes)
Australia
Gove mine - Northern Territory 100 % 2,879 3,030 3,067 2,787 3,093 11,763
Weipa mine - Queensland 100 % 8,545 8,550 8,805 8,188 8,527 34,088
Brazil
Porto Trombetas (MRN) mine 12 % 2,117 3,033 2,764 3,469 2,000 11,383
Guinea
Sangaredi mine (a) 23 % 4,194 3,899 3,919 3,786 3,922 15,797
Rio Tinto share of bauxite shipments
Share of total bauxite shipments ('000 tonnes) 13,444 13,602 14,201 13,031 13,876 54,278
Share of third party bauxite shipments ('000 tonnes) 9,024 9,493 10,091 8,988 10,135 37,596
(a) Rio Tinto has a 22.95% shareholding in the Sangaredi mine but benefits
from 45.0% of production.
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
interest
2021
2021
2021
2021
2022
2021
BORATES
Rio Tinto Borates - borates 100 %
US
Borates ('000 tonnes) (a) 122 126 123 117 123 488
(a) Production is expressed as B(2)O(3) content.
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
interest 2021 2021 2021 2021 2022
COPPER & GOLD
Escondida 30 %
Chile
Sulphide ore to concentrator ('000 tonnes) 32,654 31,903 33,528 35,787 30,235 133,872
Average copper grade (%) 0.78 0.78 0.73 0.71 0.81 0.75
Mill production (metals in concentrates):
Contained copper ('000 tonnes) 207.8 202.8 201.2 203.6 191.5 815.5
Contained gold ('000 ounces) 38.0 38.9 42.0 42.9 36.3 161.7
Contained silver ('000 ounces) 1,318 1,234 1,291 1,462 1,270 5,305
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) 32.5 28.7 26.7 28.4 35.9 116.3
Refined production from leach plants:
Copper cathode production ('000 tonnes) 46.6 51.1 49.0 48.4 48.1 195.3
(a) The calculation of copper in material mined for leaching is based on ore
stacked at the leach pad.
Rio Tinto percentage interest shown above is at 31 March 2022. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
interest 2021 2021 2021 2021 2022
COPPER & GOLD (continued)
Rio Tinto Kennecott
Bingham Canyon mine 100 %
Utah, US
Ore treated ('000 tonnes) 10,054 7,918 9,995 9,809 10,130 37,776
Average ore grade:
Copper (%) 0.38 0.48 0.47 0.55 0.51 0.47
Gold (g/t) 0.21 0.21 0.22 0.21 0.19 0.21
Silver (g/t) 2.30 2.64 2.80 2.55 2.36 2.57
Molybdenum (%) 0.058 0.021 0.017 0.020 0.021 0.029
Copper concentrates produced ('000 tonnes) 140 141 180 187 176 648
Average concentrate grade (% Cu) 23.7 23.9 23.7 26.3 26.8 24.5
Production of metals in copper concentrates:
Copper ('000 tonnes) (a) 33.2 33.7 42.8 49.7 47.1 159.4
Gold ('000 ounces) 36.2 30.5 38.1 34.7 37.8 139.5
Silver ('000 ounces) 524 476 639 589 561 2,228
Molybdenum concentrates produced ('000 tonnes): 9.4 2.2 1.0 2.2 2.1 14.8
Molybdenum in concentrates ('000 tonnes) 5.0 1.1 0.4 1.1 1.1 7.6
Kennecott smelter & refinery 100 %
Copper concentrates smelted ('000 tonnes) 240 103 165 157 213 665
Copper anodes produced ('000 tonnes) (b) 50.5 23.5 35.7 32.9 45.8 142.5
Production of refined metal:
Copper ('000 tonnes) (c) 45.2 36.9 35.7 25.5 40.2 143.3
Gold ('000 ounces) (d) 56.8 43.6 44.5 31.5 32.2 176.4
Silver ('000 ounces) (d) 812 609 733 516 577 2,671
(a) Includes a small amount of copper in precipitates.
(b) New metal excluding recycled material.
(c) We continue to process third party concentrate to optimise smelter
utilisation, including 1.3 thousand tonnes of cathode produced from purchased
concentrate in year-to-date 2022. Purchased and tolled copper concentrates are
excluded from reported production figures and production guidance. Sales of
cathodes produced from purchased concentrate are included in reported
revenues.
(d) Includes gold and silver in intermediate products.
Rio Tinto percentage interest shown above is at 31 March 2022. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
interest 2021 2021 2021 2021 2022
COPPER & GOLD (continued)
Turquoise Hill Resources
Oyu Tolgoi mine (a) 34 %
Mongolia
Ore Treated ('000 tonnes) 9,813 9,401 9,336 10,573 9,581 39,124
Average mill head grades:
Copper (%) 0.56 0.47 0.53 0.46 0.40 0.50
Gold (g/t) 0.68 0.50 0.63 0.38 0.32 0.54
Silver (g/t) 1.29 1.19 1.29 1.27 1.25 1.26
Copper concentrates produced ('000 tonnes) 201.9 173.2 191.9 182.7 144.3 749.6
Average concentrate grade (% Cu) 22.5 21.2 21.9 21.3 21.0 21.7
Production of metals in concentrates:
Copper in concentrates ('000 tonnes) 45.4 36.7 41.9 38.9 30.3 163.0
Gold in concentrates ('000 ounces) 145.7 113.1 130.8 78.6 59.2 468.1
Silver in concentrates ('000 ounces) 255 235 249 239 211 977
Sales of metals in concentrates:
Copper in concentrates ('000 tonnes) 39.0 19.6 46.4 34.4 29.9 139.4
Gold in concentrates ('000 ounces) 110.9 72.6 149.1 102.2 57.4 434.7
Silver in concentrates ('000 ounces) 207 106 278 192 179 783
(a) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79%
interest in Turquoise Hill Resources.
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
interest 2021 2021 2021 2021 2022
DIAMONDS
Diavik Diamonds (a) 100 %
Northwest Territories, Canada
Ore processed ('000 tonnes) 632 669 643 596 496 2,540
Diamonds recovered ('000 carats) 1,678 1,418 1,390 1,356 991 5,843
(a) On 17 November 2021, Rio Tinto's ownership interest in Diavik increased
from 60% to 100%. Production is reported including this change from 1 November
2021.
Rio Tinto percentage interest shown above is at 31 March 2022. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
2021
2022
2021
interest 2021 2021
IRON ORE
Rio Tinto Iron Ore
Western Australia
Pilbara Operations
Saleable iron ore production ('000 tonnes)
Hamersley mines (a) 49,313 50,333 55,634 55,049 47,678 210,329
Hope Downs 50 % 11,232 11,920 13,000 13,133 11,660 49,284
Robe River - Pannawonica (Mesas J and A) 53 % 6,616 5,830 7,021 6,031 5,234 25,497
Robe River - West Angelas 53 % 9,246 7,806 7,652 9,909 7,130 34,613
Total production ('000 tonnes) 76,406 75,889 83,306 84,122 71,703 319,724
Breakdown of total production:
Pilbara Blend and SP10 Lump (b) 21,901 21,946 23,617 24,998 20,827 92,463
Pilbara Blend and SP10 Fines (b) 34,356 34,743 37,046 38,681 31,094 144,826
Robe Valley Lump 2,467 2,300 2,686 2,173 1,982 9,626
Robe Valley Fines 4,149 3,530 4,335 3,857 3,252 15,871
Yandicoogina Fines (HIY) 13,534 13,369 15,623 14,412 14,548 56,938
Breakdown of total shipments:
Pilbara Blend Lump 15,740 15,631 16,710 16,616 13,626 64,697
Pilbara Blend Fines 35,777 34,607 36,199 31,620 27,915 138,203
Robe Valley Lump 1,934 1,762 1,814 2,001 1,273 7,512
Robe Valley Fines 4,532 4,131 4,843 4,221 3,266 17,727
Yandicoogina Fines (HIY) 14,222 13,640 14,906 14,121 14,487 56,889
SP10 Lump (b) 2,664 3,748 4,826 4,841 3,397 16,078
SP10 Fines (b) 2,923 2,817 4,063 10,684 7,497 20,487
Total shipments ('000 tonnes) (c) 77,791 76,336 83,360 84,104 71,462 321,592
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
2021
2022
2021
interest 2021 2021
Iron Ore Company of Canada 59 %
Newfoundland & Labrador and Quebec in Canada
Saleable iron ore production:
Concentrates ('000 tonnes) 1,484 1,965 1,411 1,718 1,638 6,578
Pellets ('000 tonnes) 2,510 2,669 2,273 2,535 2,456 9,986
IOC Total production ('000 tonnes) 3,993 4,634 3,684 4,254 4,094 16,564
Shipments:
Concentrates ('000 tonnes) 1,735 1,785 1,795 1,684 1,022 7,000
Pellets ('000 tonnes) 2,515 2,220 2,340 2,914 2,405 9,988
IOC Total Shipments ('000 tonnes) (c) 4,250 4,005 4,136 4,598 3,427 16,989
Global Iron Ore Totals
Iron Ore Production ('000 tonnes) 80,400 80,523 86,990 88,375 75,797 336,288
Iron Ore Shipments ('000 tonnes) 82,041 80,341 87,496 88,702 74,889 338,581
Iron Ore Sales ('000 tonnes) (d) 80,291 81,097 86,542 85,256 79,194 333,185
(a) Includes 100% of production from Paraburdoo, Mt Tom Price, Western Turner
Syncline, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass, Channar 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. Rio Tinto's ownership interest in Channar mine increased from
60% to 100%, following conclusion of its joint venture with Sinosteel
Corporation upon reaching planned 290 million tonnes production on 22 October
2020. Historic data remains unchanged.
(b) SP10 includes other lower grade products.
(c) Shipments includes material shipped to our portside trading facility in
China which may not be sold onwards in the same period.
(d) Include Pilbara and IOC sales adjusted for portside trading movements and
third party volumes sold.
Rio Tinto percentage interest shown above is at 31 March 2022. The data
represents production and sales on a 100% basis unless otherwise stated.
Rio Tinto operational data
Rio Tinto Q1 Q2 Q3 Q4 Q1 Full Year
2021
2021
2022
2021
interest 2021 2021
SALT
Dampier Salt 68 %
Western Australia
Salt production ('000 tonnes) 2,064 2,132 2,206 2,152 2,333 8,555
TITANIUM DIOXIDE SLAG
Rio Tinto Iron & Titanium 100 %
Canada and South Africa
(Rio Tinto share) (a)
Titanium dioxide slag ('000 tonnes) 279 298 209 228 273 1,014
(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.
Rio Tinto percentage interest shown above is at 31 March 2022. The data
represents production and sales on a 100% basis unless otherwise stated.
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