RIO TINTO PLC 
16 January 2018
Rio Tinto chief executive J-S Jacques said 'The business performed well in the fourth quarter, and we finished the year in line with guidance across all major products. We shipped 90 million tonnes of iron ore from our world-class Pilbara assets, a record quarter which demonstrates the system's growing flexibility. In 2017 we announced over $8 billion of cash returns to shareholders and continued to reshape the portfolio. Our focus on value over volume and mine-to-market productivity, along with disciplined allocation of cash, will ensure that we continue to deliver superior shareholder returns in the short, medium and the long term.'
Q4 2017 | vs Q4 2016 | vs Q3 2017 | 2017 | 2016 | ||
Pilbara iron ore shipments (100% basis) | Mt | 90.0 | +3% | +5% | 330.1 | +1% |
Pilbara iron ore production (100% basis) | Mt | 87.9 | +3% | +3% | 329.8 | +0% |
Bauxite | kt | 13,762 | +14% | +7% | 50,796 | +6% |
Aluminium | kt | 887 | -3% | +0% | 3,551 | -1% |
Mined copper | kt | 148.6 | +11% | +23% | 478.1 | -9% |
Hard coking coal | kt | 2,322 | +6% | +3% | 7,704 | -5% |
Titanium dioxide slag | kt | 341 | +14% | +4% | 1,315 | +25% |
IOC iron ore pellets and concentrate | Mt | 2.7 | -0% | -14% | 11.2 | +5% |
Key points |
· Pilbara iron ore shipments of 90.0 million tonnes in the fourth quarter were three per cent higher than the fourth quarter of 2016. Total shipments for 2017 of 330.1 million tonnes were in line with guidance. · Bauxite production of 50.8 million tonnes was six per cent higher than 2016 and in line with upwardly revised full year guidance. Third party shipments increased by ten per cent to 32.3 million tonnes. · Aluminium production of 3.6 million tonnes was in line with guidance with generally strong performance slightly offset by lower production at Boyne and Sohar. · Mined copper production of 478.1 thousand tonnes was nine per cent lower than 2016 due primarily to the impact of a 43 day strike at Escondida in the first quarter. Production was in line with revised guidance. · Titanium dioxide slag production of 1.3 million tonnes was 25 per cent higher than 2016, reflecting increased market demand, with strengthening pigment prices supported by low inventory and tight supply. · Production and shipment guidance for 2018 remains unchanged from the estimates provided at the investor seminar held on 4 December 2017. · The major growth projects remain on track. The Silvergrass iron ore mine was commissioned in the fourth quarter of 2017 and will continue to ramp up in 2018. Amrun is on schedule for first bauxite shipment in the first half of 2019 and construction of the first drawbell at Oyu Tolgoi Underground is expected in mid-2020. · In November, Rio Tinto successfully completed an A$750 million off-market buy-back in Rio Tinto Limited shares and in December completed a $1.5 billion on-market buy-back of Rio Tinto plc shares. An additional $1.925 billion on-market buy-back in Rio Tinto plc shares commenced on 27 December 2017 and is to be completed no later than 31 December 2018. · On 10 January 2018, Rio Tinto announced it had received a binding offer for the sale of the Aluminium Dunkerque smelter in France for $500 million, subject to final adjustments. The sale is expected to complete in the second quarter of 2018, subject to satisfactory completion of consultations with key stakeholders. |
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. To allow production numbers to be compared on a like-for-like basis, production from asset divestments completed in 2016 is excluded from Rio Tinto share of production data but assets sold in 2017 remain in comparisons.
IRON ORE
Rio Tinto share of production (million tonnes)
Q4 2017 | vs Q4 2016 | vs Q3 2017 | 2017 | vs 2016 | |
Pilbara Blend Lump | 21.1 | +3% | +2% | 80.8 | +4% |
Pilbara Blend Fines | 31.2 | +1% | +4% | 116.4 | -1% |
Robe Valley Lump | 1.6 | +1% | +5% | 6.1 | +0% |
Robe Valley Fines | 2.9 | +2% | +1% | 10.4 | -8% |
Yandicoogina Fines (HIY) | 16.1 | +6% | +11% | 57.7 | -1% |
Total Pilbara production | 72.9 | 271.3 | |||
Total Pilbara production (100% basis) | 87.9 | 329.8 |
Pilbara operations
Pilbara operations produced 329.8 million tonnes (Rio Tinto share 271.3 million tonnes) in 2017. Fourth quarter production of 87.9 million tonnes (Rio Tinto share 72.9 million tonnes) was three per cent higher than the fourth quarter of 2016, reflecting the implementation of productivity projects across most sites. This strong performance was achieved despite a planned two week shutdown at Hope Downs 4 in December 2017, in line with the focus on value over volume.
Sales of 330.1 million tonnes (Rio Tinto share 272.0 million tonnes) were in line with 2016 sales. Strong fourth quarter sales of 90.0 million tonnes (Rio Tinto share 74.8 million tonnes) were three per cent higher than the fourth quarter of 2016, reflecting ongoing productivity improvements being made to the rail network, along with increased flexibility across the infrastructure system.
Approximately 17 per cent of sales in 2017 were priced with 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 fixed on the spot market.
Approximately 67 per cent of 2017 sales were made on a cost and freight (CFR) basis, with the remainder sold free on board (FOB).
Achieved average pricing in 2017 was $59.6 per wet metric tonne on an FOB basis (equivalent to $64.8 per dry metric tonne).
Pilbara projects
Commissioning of the Silvergrass conveyor system is complete and the plant had processed around two million tonnes by the end of 2017. Production ramp-up will continue in 2018.
The automation of the Pilbara train system (AutoHaulTM) continues to make strong progress with greater than 60 per cent of all train kilometres now completed in autonomous mode with a driver on board for supervision. The project is on schedule to be completed by the end of 2018.
The Koodaideri project feasibility study was approved for $30.9 million in May 2017. The feasibility study will focus on obtaining necessary consent and permits and increasing orebody knowledge.
2018 guidance
Rio Tinto's Pilbara shipments in 2018 are expected to be between 330 and 340 million tonnes (100 per cent basis). This is subject to market conditions and any weather constraints, and partly reflects continued rail maintenance required in 2018.
ALUMINIUM
Rio Tinto share of production ('000 tonnes)
Q4 2017 | vs Q4 2016 | vs Q3 2017 | 2017 | vs 2016 | |
Rio Tinto Aluminium | |||||
Bauxite | 13,762 | +14% | +7% | 50,796 | +6% |
Alumina | 2,077 | -1% | +5% | 8,131 | -1% |
Aluminium | 887 | -3% | +0% | 3,551 | -1% |
Production from Lochaber in 2016 has been excluded from the comparable percentages above.
Bauxite
Bauxite production of 50.8 million tonnes in 2017 was six per cent higher than 2016, reflecting strong operational performances at Gove and Weipa. Production at Gove was 23 per cent higher than 2016, benefitting from the planned production ramp-up associated with de-bottlenecking of capacity, whilst production at Weipa was five per cent higher than 2016. Fourth quarter production of 13.8 million tonnes was 14 per cent higher than the corresponding quarter of 2016.
The strong production performance enabled the Group to ship 32.3 million tonnes to third parties in 2017, ten per cent higher than 2016. Fourth quarter shipments were 25 per cent higher than the fourth quarter of 2016.
Amrun
The Amrun project is advancing to plan. All wharf modules are now installed and the process plant beneficiation modules and transfer tower are in location. Upcoming activities include completion of the stacker, reclaimer assembly and ship loader assembly. The project remains on schedule for first shipment in the first half of 2019.
Alumina
Alumina production for 2017 was in line with 2016, with a strong performance at Yarwun partially offset by lower production at the Queensland Alumina refinery due to major maintenance.
Aluminium
Aluminium production of 3.6 million tonnes in 2017 was one per cent lower than 2016. Strong operational performances were achieved across most sites, reflecting the implementation of productivity improvements across the business. This was offset by production curtailment at the Boyne smelter due to higher power prices in Queensland, and by lower production at the non-managed Sohar smelter due to a power interruption incident in the third quarter. Excluding these events, 2017 aluminium production was one per cent higher than 2016.
Average realised aluminium prices in 2017 were $2,231 per tonne. This includes a $221 per tonne premium for value-added product, which represented 57 per cent of aluminium sold, and the physical market premium.
On 10 January 2018, Rio Tinto announced it had received a binding offer for the sale of the Aluminium Dunkerque smelter in France for $500 million, subject to final adjustments. The sale is expected to complete in the second quarter of 2018, subject to satisfactory completion of consultations with key stakeholders.
2018 guidance
Rio Tinto's share of production in 2018 is expected to be between 49 and 51 million tonnes of bauxite, 8.0 to 8.2 million tonnes of alumina and 3.5 to 3.7 million tonnes of aluminium (guidance to be adjusted following completion of the sale of the Aluminium Dunkerque smelter).
COPPER & DIAMONDS
Rio Tinto share of production ('000 tonnes)
Q4 2017 | vs Q4 2016 | vs Q3 2017 | 2017 | vs 2016 | |
Mined copper | |||||
Rio Tinto Kennecott | 34.8 | -23% | +35% | 148.9 | -3% |
Escondida | 92.9 | +26% | +13% | 270.8 | -11% |
Grasberg | 5.7 | N/A | N/A | 5.7 | N/A |
Oyu Tolgoi | 15.2 | -0% | +23% | 52.8 | -22% |
Refined copper | |||||
Rio Tinto Kennecott | 22.1 | -67% | -59% | 125.8 | -20% |
Escondida | 22.8 | +6% | +6% | 71.4 | -24% |
Diamonds('000 carats) | |||||
Argyle | 6,146 | +71% | +29% | 17,135 | +23% |
Diavik | 1,060 | +7% | -10% | 4,492 | +12% |
Rio Tinto Kennecott
Mined copper production in 2017 was three per cent lower than 2016, with lower grades partially offset by higher mill throughput. Fourth quarter production was 23 per cent lower than the corresponding period of 2016 as mining entered an anticipated area of lower grade. Higher grade material is expected to be accessed in 2018.
Refined copper production in 2017 was 20 per cent lower than 2016 due to the shutdown of the smelter following the fatality in October 2017. The smelter resumed production in November 2017 and is expected to draw down the increase in concentrate inventory during the first half of 2018.
Rio Tinto Kennecott continues to toll and purchase third party concentrate, with 161.4 thousand tonnes received for processing in 2017. Tolled copper concentrate, which is smelted and returned to customers, is excluded from reported production figures.
The pushback of the south wall progressed during the quarter. It will extend the life of mine and remains on track for completion in 2020.
Escondida
Mined copper production at Escondida in 2017 was 11 per cent lower than 2016 due to the labour union strike that impacted production in the first half of 2017. Fourth quarter production was 26 per cent higher than the corresponding quarter of 2016 due to an increase in concentrator throughput, largely driven by commissioning of the Los Colorados concentrator.
Oyu Tolgoi
Mined copper production from the open pit in 2017 was 22 per cent lower than 2016, as phases 2 and 3, which were sources of higher grade ore, were fully depleted by the end of 2016. Despite this, the operation established new records for rates of total material moved and mill throughput in the year. Copper production in the fourth quarter was 23 per cent higher than the previous quarter due to improved mill availability and reduced ore hardness.
Oyu Tolgoi LLC has received, and is evaluating, a Tax Act (tax assessment) for approximately $155 million from the Mongolian Tax Authority relating to an audit on taxes imposed and paid by Oyu Tolgoi LLC between 2013 and 2015.
Oyu Tolgoi Underground Project
New contractors continue to mobilise with the total project workforce at over 6,600 at the end of 2017, 89 per cent of whom are Mongolian nationals. Lateral development is on plan, completion of Shaft 2 sinking is imminent and completion of Shaft 5 sinking is expected by the end of first quarter of 2018. Six accommodation buildings in the Oyut II camp are now complete. An annual project review was completed in the fourth quarter, and construction of the first drawbell is expected in mid-2020.
Grasberg
Through a joint venture agreement with Freeport-McMoRan Inc. ('Freeport'), Rio Tinto is entitled to the cash flow associated with 40 per cent of material mined above an agreed threshold as a consequence of expansions and developments of the Grasberg facilities since 1998.
In January and February 2017, the Indonesian government issued new mining regulations to address exports of unrefined metals, including copper concentrates, and other matters related to the mining sector. These regulations impact PT Freeport Indonesia's ('PT-FI') operating rights, including its right to continue to export concentrate without restriction, and, as a result, had a significant impact on Rio Tinto's share of production in 2017. Rio Tinto's full participation beyond 2021 is likely to be delayed due to the application of force majeure provisions in the joint venture agreement between Rio Tinto and PT-FI.
In March 2017, the Indonesian government amended the regulations and issued a permit to PT-FI that allowed concentrate exports to resume in April 2017. PT-FI is applying for an extension of its export permit, which expires in February 2018.
Based on the latest available forecast from Freeport, approximately 5.7 thousand tonnes of copper and no gold production in 2017 has been attributed to Rio Tinto. Freeport is expected to announce its fourth quarter and full year 2017 results on 25 January 2018. No share of production was attributed to Rio Tinto for the first three quarters of 2017, based on expected Rio Tinto share at the time.
Provisional pricing
At 31 December 2017, the Group had an estimated 250 million pounds of copper sales that were provisionally priced at 304 cents per pound. The final price of these sales will be determined during the first half of 2018. This compares with 235 million pounds of open shipments at 31 December 2016, provisionally priced at 250 cents per pound.
Diamonds
At Argyle, 2017 carat production was 23 per cent higher than 2016 due to the additional processing of higher grade alluvial tailings.
At Diavik, carats recovered in 2017 were 12 per cent higher than 2016 due to higher recovered grades. Development of the A21 pipe remains on schedule.
2018 guidance
Rio Tinto's expected share of mined copper production for 2018 is expected to be between 510 and 610 thousand tonnes. Refined copper production is expected to be between 225 to 265 thousand tonnes.
Diamond production guidance for 2018 is between 17 and 20 million carats.
ENERGY & MINERALS
Rio Tinto share of production
Q4 2017 | vs Q4 2016 | vs Q3 2017 | 2017 | vs 2016 | |
Coal | |||||
Hard coking coal | 2,322 | +6% | +3% | 7,704 | -5% |
Semi-soft coking coal (a) | 0 | -100% | -100% | 2,020 | -51% |
Thermal coal (a) | 966 | -77% | -75% | 13,933 | -17% |
Iron ore pellets and concentrate (million tonnes) | |||||
IOC | 2.7 | -0% | -14% | 11.2 | +5% |
Minerals ('000 tonnes) | |||||
Borates - B2O3 content | 120 | -1% | -14% | 517 | +3% |
Salt | 1,535 | +11% | +25% | 5,090 | -2% |
Titanium dioxide slag | 341 | +14% | +4% | 1,315 | +25% |
Uranium ('000 lbs) | |||||
Energy Resources of Australia | 919 | +1% | -4% | 3,458 | -2% |
Rössing | 902 | +15% | +19% | 3,192 | +14% |
Production from Bengalla in 2016 has been excluded from the comparable percentages above.
(a) On 1 September 2017, Rio Tinto completed the sale of Coal & Allied. This included Coal & Allied's 67.6% interest in the Hunter Valley Operations mine, 80% interest in the Mount Thorley mine and 55.6% interest in the Warkworth mine. Production from these mines until 1 September 2017 is reported here.
Coal
Hard coking coal production in 2017 was five per cent lower than 2016 due to the impact of Cyclone Debbie in the first quarter of 2017. Fourth quarter production was six per cent higher than the corresponding quarter of 2016 reflecting strong operational performances at Kestrel and Hail Creek.
As announced on 1 September 2017, Rio Tinto completed the sale of Coal & Allied to Yancoal Australia for total consideration of $2.69 billion, which included Coal & Allied's interests in the Hunter Valley Operations, Mount Thorley and Warkworth mines. The sale, coupled with mine production sequencing changes at Hunter Valley Operations and Mount Thorley Warkworth, resulted in semi-soft coking coal and thermal coal production being lower than 2016 by 51 per cent and 17 per cent respectively.
Hard coking coal prices achieved in the second half of 2017 averaged $164 per tonne on an FOB basis compared to $177 per tonne in the first half of 2017. Average prices realised for thermal coal were $78 per tonne on an FOB basis in both the first half and second half of 2017.
Iron Ore Company of Canada (IOC)
IOC pellet production of 10.5 million tonnes (Rio Tinto share 6.1 million tonnes) was seven per cent higher than 2016, with pellet demand continuing to be strong and product mix being optimised to meet customer demand. Concentrate production for sale of 8.5 million tonnes (Rio Tinto share 5.0 million tonnes) was two per cent higher than 2016.
The five per cent improvement in total production resulted in a four per cent improvement in sales to 19.0 million tonnes (Rio Tinto share 11.2 million tonnes).
Borates
Borates production in 2017 was three per cent higher than 2016, with production aligned to market demand.
Iron and Titanium (RTIT)
Titanium dioxide slag production was 25 per cent higher in 2017, reflecting improved market demand. Market conditions for titanium dioxide continued to improve in 2017, with strengthening pigment prices supported by low inventory and tight supply. Consequently, feedstock demand has improved year-on-year.One of nine furnaces at Rio Tinto Fer et Titane (RTFT) remains idle, along with one of four furnaces at Richards Bay Minerals. The focus remains on maximising the productivity of the furnaces currently in operation, and a decision to re-start idle furnaces will be based on maximising value over volume.
Salt
Salt production in 2017 was marginally lower than 2016. Fourth quarter production was 11 per cent higher than the corresponding period of 2016 as the business responded to improved market demand.
Uranium
Energy Resources of Australia continues to process existing stockpiles. 2017 production was two per cent lower than 2016.
Production at Rössing in 2017 was 14 per cent higher than 2016 due to higher grades.
2018 guidance
Guidance for Rio Tinto's expected share of 2018 production is 7.5 to 8.5 million tonnes of hard coking coal, 3.8 to 4.5 million tonnes of thermal coal, 11.5 to 12.5 million tonnes of iron ore pellets and concentrates, 0.5 million tonnes of boric oxide equivalent production, 1.2 to 1.4 million tonnes of titanium dioxide slag, and 6.2 to 7.2 million pounds of uranium.
EXPLORATION AND EVALUATION
Pre-tax and pre-divestment expenditure on exploration and evaluation charged to the profit and loss account in 2017 was $445 million (of which $147 million was spent in the fourth quarter), compared with $497 million in 2016. Approximately 46 per cent of this expenditure was incurred by central exploration, 34 per cent by Copper & Diamonds, ten per cent by Energy & Minerals and the remainder by Iron Ore and Aluminium.
There were no significant divestments of central exploration properties in 2017.
Exploration highlights
Rio Tinto has a strong portfolio of projects with activity in 16 countries across some eight commodities. The bulk of the exploration expenditure in this quarter was focused on copper targets in Australia, Chile, Kazakhstan, Mongolia, Papua New Guinea, Peru, Serbia, United States and Zambia. Mine-lease exploration continued at a number of Rio Tinto managed businesses including Pilbara Iron, Richards Bay Minerals, Oyu Tolgoi and Weipa.
A summary of activity for the quarter is as follows:
Product Group | Evaluation projects | Advanced projects | Greenfield programmes |
Aluminium | Cape York, Australia | Amargosa, Brazil | Australia, Laos |
Copper & Diamonds | Copper/molybdenum: Resolution, US Copper: La Granja, Peru Copper/gold: Oyu Tolgoi, Mongolia | Nickel: Tamarack, US Diamonds: Fort a la Corne, Canada | Copper: Australia, Botswana, Chile, China, Kazakhstan, Mongolia, Namibia, Papua New Guinea, Peru, Serbia, US, Zambia Nickel: Australia, Canada Diamonds: Canada |
Energy & Minerals | Lithium borates: Jadar, Serbia Heavy mineral sands: Mutamba, Mozambique and Zulti South, South Africa Iron Ore: Simandou, Guinea Uranium: Roughrider, Canada | Potash: KP405, Canada | Uranium: Canada Heavy mineral sands: Tanzania |
Iron Ore | Pilbara, Australia | Pilbara, Australia |
Forward-looking statements
This announcement may include 'forward-looking statements' within the meaning of the US 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 production forecast or guidance, financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto's products and reserve and resource positions), are forward-looking statements. The words 'intend', 'aim', 'project', 'anticipate', 'estimate', 'plan', 'believes', 'expects', 'may', 'should', 'will', 'target', 'set to', 'assumes' 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 production, performance or results of Rio Tinto to be materially different from any future production, performance or results expressed or implied by such forward-looking statements. Such forward-looking statements could be influenced by such risk factors as 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. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. 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 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.
Classification
This announcement has been released in accordance with the Listing Rules of the Australian Securities Exchange and has been voluntarily released to the London Stock Exchange.
Contacts
media.enquiries@riotinto.com
www.riotinto.com
Follow @riotinto on Twitter
Media Relations, United Kingdom Illtud Harri T +44 20 7781 1152 M +44 7920 503 600 David Outhwaite T +44 20 7781 1623 M +44 7787 597 493
David Luff Investor Relations, EMEA/Americas John Smelt T +44 20 7781 1654 M +44 7879 642 675 David Ovington T +44 20 7781 2051 M +44 7920 010 978 Nick Parkinson T +44 20 7781 1552 M +44 7810 657 556 | Media Relations, Australia Jonathan Rose T +61 3 9283 3088 M +61 447 028 913 Investor Relations, Australia/Asia Natalie Worley T +61 3 9283 3063 M +61 409 210 462 Rachel Storrs T +61 3 9283 3628 M +61 417 401 018 |
Rio Tinto plc 6 St James's Square London SW1Y 4AD United Kingdom
T +44 20 7781 2000 No. 719885 | Rio Tinto Limited Level 7, 360 Collins Street Melbourne 3000 Australia T +61 3 9283 3333 Registered in Australia ABN 96 004 458 404 |
Rio Tinto production summary | |||||||||||
Rio Tinto share of production | |||||||||||
Quarter | Full Year | % Change | |||||||||
2016 |
2017 |
2017 |
2016 | 2017 | Q4 17 |
Q4 17 |
2017 | ||||
Principal Commodities | |||||||||||
Alumina | ('000 t) | 2,104 | 1,984 | 2,077 | 8,192 | 8,131 | -1% | 5% | -1% | ||
Aluminium | ('000 t) | 915 | 887 | 887 | 3,600 | 3,551 | -3% | 0% | -1% | ||
Bauxite | ('000 t) | 12,120 | 12,867 | 13,762 | 47,703 | 50,796 | 14% | 7% | 6% | ||
Borates | ('000 t) | 121 | 140 | 120 | 503 | 517 | -1% | -14% | 3% | ||
Coal - hard coking | ('000 t) | 2,187 | 2,244 | 2,322 | 8,141 | 7,704 | 6% | 3% | -5% | ||
Coal - semi-soft coking | ('000 t) | 969 | 445 | - | 4,102 | 2,020 | -100% | -100% | -51% | ||
Coal - thermal | ('000 t) | 4,254 | 3,791 | 966 | 16,727 | 13,933 | -77% | -75% | -17% | ||
Copper - mined | ('000 t) | 133.8 | 120.6 | 148.6 | 523.3 | 478.1 | 11% | 23% | -9% | ||
Copper - refined | ('000 t) | 88.4 | 75.2 | 44.9 | 250.1 | 197.2 | -49% | -40% | -21% | ||
Diamonds | ('000 cts) | 4,574 | 5,933 | 7,207 | 17,953 | 21,627 | 58% | 21% | 20% | ||
Iron Ore | ('000 t) | 73,633 | 72,903 | 75,656 | 281,321 | 282,484 | 3% | 4% | 0% | ||
Titanium dioxide slag | ('000 t) | 300 | 327 | 341 | 1,048 | 1,315 | 14% | 4% | 25% | ||
Uranium | ('000 lbs) | 1,690 | 1,718 | 1,821 | 6,342 | 6,650 | 8% | 6% | 5% | ||
Other Metals & Minerals | |||||||||||
Gold - mined | ('000 oz) | 85.1 | 59.1 | 62.6 | 293.5 | 260.1 | -26% | 6% | -11% | ||
Gold - refined | ('000 oz) | 40.6 | 54.1 | 55.4 | 135.4 | 203.7 | 37% | 2% | 50% | ||
Molybdenum | ('000 t) | 1.8 | 1.4 | 1.9 | 2.8 | 5.0 | 10% | 37% | 75% | ||
Salt | ('000 t) | 1,386 | 1,227 | 1,535 | 5,180 | 5,090 | 11% | 25% | -2% | ||
Silver - mined | ('000 oz) | 1,239 | 959 | 1,172 | 4,210 | 4,194 | -5% | 22% | 0% | ||
Silver - refined | ('000 oz) | 465 | 731 | 516 | 1,815 | 2,378 | 11% | -29% | 31% | ||
Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page. 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 |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
ALUMINA | ||||||||
Production ('000 tonnes) | ||||||||
Jonquière (Vaudreuil) | 100% | 367 | 367 | 365 | 351 | 365 | 1,452 | 1,448 |
Jonquière (Vaudreuil) specialty Alumina plant | 100% | 31 | 31 | 32 | 30 | 29 | 115 | 122 |
Queensland Alumina | 80% | 789 | 739 | 756 | 720 | 773 | 3,078 | 2,988 |
São Luis (Alumar) | 10% | 96 | 89 | 93 | 94 | 93 | 371 | 370 |
Yarwun | 100% | 821 | 819 | 778 | 790 | 816 | 3,176 | 3,203 |
Rio Tinto total alumina production | 2,104 | 2,047 | 2,024 | 1,984 | 2,077 | 8,192 | 8,131 | |
ALUMINIUM | ||||||||
Production ('000 tonnes) | ||||||||
Australia - Bell Bay | 100% | 47 | 45 | 47 | 48 | 47 | 182 | 187 |
Australia - Boyne Island | 59% | 87 | 80 | 73 | 74 | 74 | 346 | 302 |
Australia - Tomago | 52% | 77 | 75 | 76 | 77 | 77 | 304 | 304 |
Canada - six wholly owned | 100% | 405 | 394 | 397 | 401 | 405 | 1,582 | 1,596 |
Canada - Alouette (Sept-Îles) | 40% | 61 | 60 | 60 | 60 | 60 | 244 | 239 |
Canada - Bécancour | 25% | 28 | 28 | 26 | 28 | 27 | 111 | 110 |
France - Dunkerque (a) | 100% | 71 | 70 | 71 | 71 | 72 | 280 | 284 |
Iceland - ISAL (Reykjavik) | 100% | 52 | 52 | 53 | 53 | 54 | 205 | 212 |
New Zealand - Tiwai Point | 79% | 68 | 66 | 67 | 67 | 67 | 269 | 267 |
Oman - Sohar | 20% | 19 | 19 | 19 | 7 | 5 | 77 | 51 |
Rio Tinto total aluminium production | 915 | 889 | 888 | 887 | 887 | 3,600 | 3,551 | |
BAUXITE | ||||||||
Production ('000 tonnes) (b) | ||||||||
Gove | 100% | 2,169 | 2,388 | 2,780 | 2,809 | 3,224 | 9,091 | 11,201 |
Porto Trombetas | 12% | 516 | 357 | 489 | 492 | 426 | 1,975 | 1,764 |
Sangaredi | (c) | 1,735 | 1,665 | 1,791 | 1,670 | 1,809 | 7,210 | 6,934 |
Weipa | 100% | 7,700 | 6,893 | 7,805 | 7,895 | 8,304 | 29,427 | 30,898 |
Rio Tinto total bauxite production | 12,120 | 11,303 | 12,865 | 12,867 | 13,762 | 47,703 | 50,796 | |
Rio Tinto share of production | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
BORATES | ||||||||
Production ('000 tonnes B2O3 content) | ||||||||
Rio Tinto Borates - borates | 100% | 121 | 123 | 133 | 140 | 120 | 503 | 517 |
COAL - hard coking | ||||||||
Rio Tinto Coal Australia ('000 tonnes) | ||||||||
Hail Creek Coal (d) | 82% | 1,205 | 930 | 822 | 1,276 | 1,275 | 4,879 | 4,303 |
Kestrel Coal (d) | 80% | 981 | 653 | 733 | 968 | 1,048 | 3,262 | 3,402 |
Rio Tinto total hard coking coal production | 2,187 | 1,583 | 1,555 | 2,244 | 2,322 | 8,141 | 7,704 | |
COAL - semi-soft coking | ||||||||
Rio Tinto Coal Australia ('000 tonnes) | ||||||||
Hunter Valley (e) | 0% | 581 | 541 | 192 | 301 | - | 2,540 | 1,034 |
Mount Thorley (e) | 0% | 283 | 269 | 311 | 119 | - | 1,127 | 700 |
Warkworth (e) | 0% | 106 | 149 | 112 | 25 | - | 436 | 286 |
Rio Tinto total semi-soft coking coal production | 969 | 959 | 616 | 445 | - | 4,102 | 2,020 | |
COAL - thermal | ||||||||
Rio Tinto Coal Australia ('000 tonnes) | ||||||||
Hail Creek Coal (d) | 82% | 746 | 874 | 881 | 851 | 785 | 3,089 | 3,390 |
Hunter Valley (e) | 0% | 1,724 | 1,927 | 2,393 | 1,428 | - | 6,782 | 5,747 |
Kestrel Coal (d) | 80% | 217 | 127 | 141 | 226 | 180 | 676 | 674 |
Mount Thorley (e) | 0% | 828 | 450 | 597 | 562 | - | 2,235 | 1,609 |
Warkworth (e) | 0% | 739 | 845 | 943 | 725 | - | 3,945 | 2,512 |
Rio Tinto total thermal coal production | 4,254 | 4,222 | 4,954 | 3,791 | 966 | 16,727 | 13,933 | |
Rio Tinto share of production | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
COPPER | ||||||||
Mine production ('000 tonnes) (b) | ||||||||
Bingham Canyon | 100% | 45.1 | 44.3 | 44.0 | 25.8 | 34.8 | 152.7 | 148.9 |
Escondida | 30% | 73.4 | 27.2 | 68.3 | 82.5 | 92.9 | 303.1 | 270.8 |
Grasberg - Joint Venture (f) | 40% | 0.0 | 0.0 | 0.0 | 0.0 | 5.7 | 0.0 | 5.7 |
Oyu Tolgoi (g) | 34% | 15.2 | 12.8 | 12.5 | 12.4 | 15.2 | 67.5 | 52.8 |
Rio Tinto total mine production | 133.8 | 84.2 | 124.7 | 120.6 | 148.6 | 523.3 | 478.1 | |
Refined production ('000 tonnes) | ||||||||
Escondida | 30% | 21.5 | 8.2 | 18.8 | 21.6 | 22.8 | 93.6 | 71.4 |
Rio Tinto Kennecott | 100% | 67.0 | 29.8 | 20.3 | 53.6 | 22.1 | 156.5 | 125.8 |
Rio Tinto total refined production | 88.4 | 38.0 | 39.1 | 75.2 | 44.9 | 250.1 | 197.2 | |
DIAMONDS | ||||||||
Production ('000 carats) | ||||||||
Argyle | 100% | 3,584 | 3,016 | 3,216 | 4,757 | 6,146 | 13,958 | 17,135 |
Diavik | 60% | 989 | 1,136 | 1,119 | 1,177 | 1,060 | 3,995 | 4,492 |
Rio Tinto total diamond production | 4,574 | 4,152 | 4,335 | 5,933 | 7,207 | 17,953 | 21,627 | |
GOLD | ||||||||
Mine production ('000 ounces) (b) | ||||||||
Bingham Canyon | 100% | 57.2 | 54.1 | 54.3 | 33.6 | 35.9 | 153.2 | 177.9 |
Escondida | 30% | 11.3 | 3.4 | 10.2 | 15.2 | 15.1 | 39.8 | 43.9 |
Grasberg - Joint Venture (f) | 40% | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Oyu Tolgoi (g) | 34% | 16.6 | 8.3 | 8.0 | 10.4 | 11.7 | 100.5 | 38.3 |
Rio Tinto total mine production | 85.1 | 65.8 | 72.5 | 59.1 | 62.6 | 293.5 | 260.1 | |
Refined production ('000 ounces) | ||||||||
Rio Tinto Kennecott | 100% | 40.6 | 51.1 | 43.0 | 54.1 | 55.4 | 135.4 | 203.7 |
Rio Tinto share of production | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
IRON ORE | ||||||||
Production ('000 tonnes) (b) | ||||||||
Hamersley mines | (h) | 54,848 | 48,664 | 48,674 | 52,921 | 56,501 | 205,902 | 206,760 |
Hamersley - Channar | 60% | 1,119 | 1,635 | 1,903 | 1,596 | 1,345 | 5,839 | 6,479 |
Hope Downs | 50% | 5,794 | 5,218 | 6,287 | 5,978 | 5,987 | 23,505 | 23,470 |
Iron Ore Company of Canada | 59% | 2,743 | 2,579 | 2,683 | 3,171 | 2,733 | 10,661 | 11,166 |
Robe River - Pannawonica (Mesas J and A) | 53% | 4,493 | 3,809 | 3,676 | 4,461 | 4,580 | 17,371 | 16,526 |
Robe River - West Angelas | 53% | 4,636 | 4,322 | 4,475 | 4,776 | 4,509 | 18,044 | 18,082 |
Rio Tinto iron ore production ('000 tonnes) | 73,633 | 66,226 | 67,699 | 72,903 | 75,656 | 281,321 | 282,484 | |
Breakdown of Production: | ||||||||
Pilbara Blend Lump | 20,443 | 19,207 | 19,780 | 20,700 | 21,082 | 77,761 | 80,770 | |
Pilbara Blend Fines | 30,795 | 27,026 | 28,049 | 30,113 | 31,172 | 117,560 | 116,359 | |
Robe Valley Lump | 1,625 | 1,453 | 1,459 | 1,570 | 1,646 | 6,122 | 6,128 | |
Robe Valley Fines | 2,868 | 2,357 | 2,217 | 2,891 | 2,934 | 11,250 | 10,398 | |
Yandicoogina Fines (HIY) | 15,159 | 13,605 | 13,512 | 14,458 | 16,088 | 57,968 | 57,663 | |
Pilbara iron ore production ('000 tonnes) | 70,890 | 63,647 | 65,016 | 69,732 | 72,922 | 270,660 | 271,318 | |
IOC Concentrate | 1,124 | 1,109 | 1,299 | 1,450 | 1,163 | 4,907 | 5,020 | |
IOC Pellets | 1,618 | 1,470 | 1,384 | 1,722 | 1,571 | 5,754 | 6,146 | |
IOC iron ore production ('000 tonnes) | 2,743 | 2,579 | 2,683 | 3,171 | 2,733 | 10,661 | 11,166 | |
Breakdown of Sales: | ||||||||
Pilbara Blend Lump | 18,071 | 16,033 | 18,218 | 18,044 | 18,861 | 67,929 | 71,156 | |
Pilbara Blend Fines | 34,842 | 30,497 | 28,779 | 32,421 | 35,575 | 126,521 | 127,272 | |
Robe Valley Lump | 1,502 | 1,176 | 1,262 | 1,391 | 1,388 | 5,397 | 5,217 | |
Robe Valley Fines | 3,053 | 2,373 | 2,370 | 3,174 | 3,287 | 11,942 | 11,204 | |
Yandicoogina Fines (HIY) | 14,969 | 13,120 | 13,371 | 14,963 | 15,731 | 57,062 | 57,185 | |
Pilbara iron ore sales ('000 tonnes) | 72,437 | 63,199 | 64,000 | 69,993 | 74,843 | 268,851 | 272,034 | |
IOC Concentrate | 1,148 | 1,193 | 939 | 1,362 | 1,559 | 4,899 | 5,053 | |
IOC Pellets | 1,764 | 1,415 | 1,489 | 1,590 | 1,615 | 5,862 | 6,108 | |
IOC Iron ore sales ('000 tonnes) | 2,912 | 2,608 | 2,428 | 2,952 | 3,173 | 10,761 | 11,161 | |
Rio Tinto iron ore sales ('000 tonnes) | 75,350 | 65,806 | 66,428 | 72,944 | 78,016 | 279,613 | 283,195 | |
Rio Tinto share of production | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
MOLYBDENUM | ||||||||
Mine production ('000 tonnes) (b) | ||||||||
Bingham Canyon | 100% | 1.8 | 0.9 | 0.8 | 1.4 | 1.9 | 2.8 | 5.0 |
SALT | ||||||||
Production ('000 tonnes) | ||||||||
Dampier Salt | 68% | 1,386 | 852 | 1,476 | 1,227 | 1,535 | 5,180 | 5,090 |
SILVER | ||||||||
Mine production ('000 ounces) (b) | ||||||||
Bingham Canyon | 100% | 751 | 711 | 669 | 357 | 418 | 1,943 | 2,156 |
Escondida | 30% | 397 | 163 | 370 | 521 | 658 | 1,791 | 1,712 |
Grasberg - Joint Venture (f) | 40% | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Oyu Tolgoi (g) | 34% | 91 | 72 | 79 | 80 | 96 | 476 | 326 |
Rio Tinto total mine production | 1,239 | 946 | 1,118 | 959 | 1,172 | 4,210 | 4,194 | |
Refined production ('000 ounces) | ||||||||
Rio Tinto Kennecott | 100% | 465 | 402 | 729 | 731 | 516 | 1,815 | 2,378 |
TITANIUM DIOXIDE SLAG | ||||||||
Production ('000 tonnes) | ||||||||
Rio Tinto Iron & Titanium (i) | 100% | 300 | 332 | 316 | 327 | 341 | 1,048 | 1,315 |
URANIUM | ||||||||
Production ('000 lbs U3O8) (j) | ||||||||
Energy Resources of Australia | 68% | 908 | 900 | 678 | 962 | 919 | 3,544 | 3,458 |
Rössing | 69% | 781 | 673 | 860 | 757 | 902 | 2,798 | 3,192 |
Rio Tinto total uranium production | 1,690 | 1,573 | 1,538 | 1,718 | 1,821 | 6,342 | 6,650 | |
Production data notes: | ||||||||
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. | ||||||||
(a) On 10 January 2018, Rio Tinto announced a binding offer to sell its 100% interest in the Dunkerque smelter. | ||||||||
(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) Kestrel and Hail Creek produce hard coking coal and thermal coal through their mining operations. Both mines may blend coal types at ports. (e) On 1 September 2017, Rio Tinto completed the sale of Coal & Allied, a wholly owned subsidiary of Rio Tinto Coal Australia (RTCA) and production from these assets is included to this date. This included Coal & Allied's 67.6% interest in the Hunter Valley Operations mine, 80% interest in the Mount Thorley mine and 55.6% interest in the Warkworth mine. In an earlier restructuring of the Coal & Allied group completed on 3 February 2016, Rio Tinto had obtained 100% of Coal & Allied and retained a 67.6% interest in the newly created Hunter Valley Operations joint venture. Prior to restructuring, Rio Tinto's interest in the Hunter Valley Operations, Mount Thorley and Warkworth mines was 80%, 64% and 44.46% respectively. | ||||||||
(f) 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. | ||||||||
(g) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources Ltd. | ||||||||
(h) Includes 100% of production from Paraburdoo, Mt Tom Price, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass 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. | ||||||||
(i) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio Tinto's 74% interest in Richards Bay Minerals (RBM). | ||||||||
(j) ERA and Rössing production reported are drummed U3O8. | ||||||||
The Rio Tinto percentage shown above is at 31 December 2017. | ||||||||
Rio Tinto's interest in the Lochaber aluminium smelter and Bengalla mine were sold in 2016. No data for these operations are included in the Share of production table. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
ALUMINA | ||||||||
Smelter Grade Alumina - Aluminium Group | ||||||||
Alumina production ('000 tonnes) | ||||||||
Australia | ||||||||
Queensland Alumina Refinery - Queensland | 80.0% | 987 | 924 | 946 | 900 | 966 | 3,848 | 3,735 |
Yarwun refinery - Queensland | 100.0% | 821 | 819 | 778 | 790 | 816 | 3,176 | 3,203 |
Brazil | ||||||||
São Luis (Alumar) refinery | 10.0% | 957 | 895 | 931 | 937 | 934 | 3,707 | 3,697 |
Canada | ||||||||
Jonquière (Vaudreuil) refinery - Quebec (a) | 100.0% | 367 | 367 | 365 | 351 | 365 | 1,452 | 1,448 |
(a) Jonquière's (Vaudreuil's) production shows smelter grade alumina only and excludes hydrate produced and used for specialty alumina. | ||||||||
Specialty Alumina - Aluminium Group | ||||||||
Specialty alumina production ('000 tonnes) | ||||||||
Canada | ||||||||
Jonquière (Vaudreuil) plant - Quebec | 100.0% | 31 | 31 | 32 | 30 | 29 | 115 | 122 |
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
ALUMINIUM | ||||||||
Primary Aluminium | ||||||||
Primary aluminium production ('000 tonnes) | ||||||||
Australia | ||||||||
Bell Bay smelter - Tasmania | 100.0% | 47 | 45 | 47 | 48 | 47 | 182 | 187 |
Boyne Island smelter - Queensland | 59.4% | 147 | 135 | 124 | 125 | 124 | 583 | 508 |
Tomago smelter - New South Wales | 51.6% | 149 | 145 | 147 | 149 | 149 | 589 | 590 |
Canada | ||||||||
Alma smelter - Quebec | 100.0% | 117 | 114 | 112 | 115 | 116 | 467 | 457 |
Alouette (Sept-Îles) smelter - Quebec | 40.0% | 153 | 149 | 149 | 150 | 150 | 609 | 598 |
Arvida smelter - Quebec | 100.0% | 43 | 41 | 43 | 43 | 44 | 172 | 171 |
Arvida AP60 smelter - Quebec | 100.0% | 15 | 15 | 15 | 14 | 14 | 60 | 57 |
Bécancour smelter - Quebec | 25.1% | 110 | 112 | 106 | 113 | 108 | 445 | 438 |
Grande-Baie smelter - Quebec | 100.0% | 58 | 57 | 57 | 58 | 58 | 227 | 229 |
Kitimat smelter - British Columbia | 100.0% | 109 | 107 | 109 | 108 | 110 | 408 | 433 |
Laterrière smelter - Quebec | 100.0% | 63 | 61 | 61 | 63 | 64 | 247 | 249 |
France | ||||||||
Dunkerque smelter (a) | 100.0% | 71 | 70 | 71 | 71 | 72 | 280 | 284 |
Iceland | ||||||||
ISAL (Reykjavik) smelter | 100.0% | 52 | 52 | 53 | 53 | 54 | 205 | 212 |
New Zealand | ||||||||
Tiwai Point smelter | 79.4% | 85 | 84 | 84 | 84 | 85 | 339 | 337 |
Oman | ||||||||
Sohar smelter | 20.0% | 97 | 96 | 95 | 35 | 27 | 386 | 253 |
United Kingdom | ||||||||
Lochaber smelter (b) | 0.0% | 10 | - | - | - | - | 46 | - |
(a) On 10 January 2018, Rio Tinto announced a binding offer to sell its 100% interest in the Dunkerque smelter. | ||||||||
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
BAUXITE | ||||||||
Bauxite production ('000 tonnes) | ||||||||
Australia | ||||||||
Gove mine - Northern Territory | 100.0% | 2,169 | 2,388 | 2,780 | 2,809 | 3,224 | 9,091 | 11,201 |
Weipa mine - Queensland | 100.0% | 7,700 | 6,893 | 7,805 | 7,895 | 8,304 | 29,427 | 30,898 |
Brazil | ||||||||
Porto Trombetas (MRN) mine | 12.0% | 4,296 | 2,974 | 4,071 | 4,103 | 3,550 | 16,462 | 14,698 |
Guinea | ||||||||
Sangaredi mine (a) | 23.0% | 3,856 | 3,699 | 3,979 | 3,711 | 4,020 | 16,023 | 15,409 |
Rio Tinto share of bauxite shipments | ||||||||
Share of total bauxite shipments ('000 tonnes) | 11,996 | 11,605 | 12,164 | 12,913 | 13,557 | 47,575 | 50,240 | |
Share of third party bauxite shipments ('000 tonnes) | 7,345 | 6,927 | 7,962 | 8,250 | 9,164 | 29,308 | 32,303 | |
(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 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
BORATES | ||||||||
Rio Tinto Borates - borates | 100.0% | |||||||
US | ||||||||
Borates ('000 tonnes) (a) | 121 | 123 | 133 | 140 | 120 | 503 | 517 | |
(a) Production is expressed as B2O3 content. | ||||||||
COAL | ||||||||
Rio Tinto Coal Australia | ||||||||
Bengalla mine (a) | 0.0% | |||||||
New South Wales | ||||||||
Thermal coal ('000 tonnes) | - | - | - | - | - | 1,476 | - | |
Hail Creek Coal mine | 82.0% | |||||||
Queensland | ||||||||
Hard coking coal ('000 tonnes) | 1,470 | 1,134 | 1,002 | 1,556 | 1,555 | 5,950 | 5,247 | |
Thermal coal ('000 tonnes) | 910 | 1,065 | 1,074 | 1,037 | 958 | 3,767 | 4,134 | |
Hunter Valley Operations (b) | 0.0% | |||||||
New South Wales | ||||||||
Semi-soft coking coal ('000 tonnes) | 859 | 800 | 284 | 445 | - | 3,720 | 1,529 | |
Thermal coal ('000 tonnes) | 2,550 | 2,851 | 3,539 | 2,112 | - | 9,925 | 8,502 | |
Kestrel Coal mine | 80.0% | |||||||
Queensland | ||||||||
Hard coking coal ('000 tonnes) | 1,227 | 816 | 916 | 1,210 | 1,309 | 4,077 | 4,252 | |
Thermal coal ('000 tonnes) | 271 | 159 | 177 | 282 | 226 | 846 | 843 | |
Mount Thorley Operations (b) | 0.0% | |||||||
New South Wales | ||||||||
Semi-soft coking coal ('000 tonnes) | 353 | 337 | 389 | 149 | - | 1,420 | 876 | |
Thermal coal ('000 tonnes) | 1,035 | 562 | 746 | 703 | - | 2,850 | 2,011 | |
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
COAL (continued) | ||||||||
Warkworth mine (b) | 0.0% | |||||||
New South Wales | ||||||||
Semi-soft coking coal ('000 tonnes) | 190 | 268 | 202 | 44 | - | 809 | 514 | |
Thermal coal ('000 tonnes) | 1,330 | 1,520 | 1,696 | 1,305 | - | 7,225 | 4,521 | |
Total hard coking coal production ('000 tonnes) | 2,697 | 1,950 | 1,918 | 2,766 | 2,864 | 10,027 | 9,499 | |
Total semi-soft coking coal production ('000 tonnes) | 1,402 | 1,405 | 875 | 639 | - | 5,950 | 2,919 | |
Total thermal coal production ('000 tonnes) | 6,096 | 6,156 | 7,232 | 5,439 | 1,183 | 26,090 | 20,010 | |
Total coal production ('000 tonnes) | 10,196 | 9,512 | 10,026 | 8,844 | 4,047 | 42,067 | 32,429 | |
Total coal sales ('000 tonnes) | 10,241 | 8,792 | 9,871 | 9,298 | 4,092 | 41,773 | 32,053 | |
Rio Tinto Coal Australia share (c) | ||||||||
Share of hard coking coal sales ('000 tonnes) | 2,395 | 1,524 | 1,717 | 2,511 | 2,429 | 8,704 | 8,181 | |
Share of semi-soft coal sales ('000 tonnes) (d) | 1,043 | 765 | 759 | 485 | - | 4,144 | 2,010 | |
Share of thermal coal sales ('000 tonnes) (d) | 3,979 | 3,946 | 4,539 | 3,804 | 896 | 16,484 | 13,186 | |
(a) Rio Tinto sold its interest in the Bengalla Joint Venture with an effective date of 1 March 2016. | ||||||||
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
COPPER & GOLD | ||||||||
Escondida | 30.0% | |||||||
Chile | ||||||||
Sulphide ore to concentrator ('000 tonnes) | 19,866 | 8,054 | 18,777 | 24,080 | 30,260 | 84,746 | 81,171 | |
Average copper grade (%) | 1.02 | 1.01 | 1.07 | 1.06 | 0.98 | 0.96 | 1.03 | |
Mill production (metals in concentrates): | ||||||||
Contained copper ('000 tonnes) | 168.6 | 67.7 | 167.0 | 204.1 | 245.7 | 679.3 | 684.5 | |
Contained gold ('000 ounces) | 38 | 11 | 34 | 51 | 50 | 133 | 146 | |
Contained silver ('000 ounces) | 1,323 | 543 | 1,234 | 1,737 | 2,193 | 5,971 | 5,707 | |
Recoverable copper in ore stacked for leaching ('000 tonnes) (a) | 76.4 | 22.8 | 60.7 | 70.8 | 63.9 | 331.4 | 218.2 | |
Refined production from leach plants: | ||||||||
Copper cathode production ('000 tonnes) | 71.5 | 27.2 | 62.8 | 71.9 | 76.1 | 312.1 | 238.0 | |
(a) The calculation of copper in material mined for leaching is based on ore stacked at the leach pad. | ||||||||
Freeport-McMoRan | ||||||||
Grasberg mine (a) | 0.0% (b) | |||||||
Papua, Indonesia | ||||||||
Ore treated ('000 tonnes) | 15,630 | 7,849 | 11,242 | 15,791 | 18,736 | 60,628 | 53,617 | |
Average mill head grades: | ||||||||
Copper (%) | 1.08 | 1.15 | 1.03 | 0.91 | 1.05 | 0.91 | 1.02 | |
Gold (g/t) | 0.97 | 1.17 | 1.16 | 0.98 | 1.23 | 0.68 | 1.13 | |
Silver (g/t) | 3.67 | 5.26 | 4.09 | 3.96 | 2.79 | 3.09 | 3.77 | |
Production of metals in concentrates: | ||||||||
Copper in concentrates ('000 tonnes) | 153.1 | 81.0 | 103.9 | 130.1 | 180.3 | 499.4 | 495.4 | |
Gold in concentrates ('000 ounces) | 409 | 248 | 358 | 417 | 631 | 1,094 | 1,654 | |
Silver in concentrates ('000 ounces) | 1,237 | 667 | 900 | 1,016 | 1,023 | 3,796 | 3,606 | |
Sales of payable metals in concentrates: (c) | ||||||||
Copper in concentrates ('000 tonnes) | 140.6 | 61.7 | 124.6 | 109.6 | 183.7 | 478.0 | 479.6 | |
Gold in concentrates ('000 ounces) | 374 | 183 | 429 | 343 | 646 | 1,054 | 1,602 | |
Silver in concentrates ('000 ounces) | 907 | 404 | 851 | 666 | 873 | 2,909 | 2,794 | |
(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 Q4 2017 results show the forecast from FCX's most recent five-year plan, because FCX is not releasing its actual 100% operating data for Q4 2017 until the release of its 2017 fourth-quarter results on 25 January 2018. | ||||||||
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
COPPER & GOLD (continued) | ||||||||
Rio Tinto Kennecott | ||||||||
Bingham Canyon mine | 100.0% | |||||||
Utah, US | ||||||||
Ore treated ('000 tonnes) | 8,827 | 9,508 | 10,709 | 10,092 | 9,074 | 33,423 | 39,382 | |
Average ore grade: | ||||||||
Copper (%) | 0.56 | 0.51 | 0.47 | 0.29 | 0.43 | 0.50 | 0.43 | |
Gold (g/t) | 0.31 | 0.32 | 0.29 | 0.18 | 0.21 | 0.24 | 0.25 | |
Silver (g/t) | 3.33 | 3.24 | 2.66 | 1.51 | 1.89 | 2.41 | 2.33 | |
Molybdenum (%) | 0.040 | 0.025 | 0.025 | 0.032 | 0.036 | 0.028 | 0.029 | |
Copper concentrates produced ('000 tonnes) | 190 | 189 | 205 | 148 | 162 | 648 | 704 | |
Average concentrate grade (% Cu) | 23.8 | 23.3 | 21.5 | 17.3 | 21.5 | 23.5 | 21.1 | |
Production of metals in copper concentrates: | ||||||||
Copper ('000 tonnes) (a) | 45.1 | 44.3 | 44.0 | 25.8 | 34.8 | 152.7 | 148.9 | |
Gold ('000 ounces) | 57 | 54 | 54 | 34 | 36 | 153 | 178 | |
Silver ('000 ounces) | 751 | 711 | 669 | 357 | 418 | 1,943 | 2,156 | |
Molybdenum concentrates produced ('000 tonnes): | 3.4 | 1.7 | 1.5 | 2.8 | 3.8 | 5.6 | 9.8 | |
Molybdenum in concentrates ('000 tonnes) | 1.8 | 0.9 | 0.8 | 1.4 | 1.9 | 2.8 | 5.0 | |
Kennecott smelter & refinery | 100.0% | |||||||
Copper concentrates smelted ('000 tonnes) | 207 | 136 | 160 | 258 | 90 | 752 | 644 | |
Copper anodes produced ('000 tonnes) (b) | 42.7 | 33.7 | 32.6 | 50.6 | 12.1 | 163.8 | 129.0 | |
Production of refined metal: | ||||||||
Copper ('000 tonnes) | 67.0 | 29.8 | 20.3 | 53.6 | 22.1 | 156.5 | 125.8 | |
Gold ('000 ounces) (c) | 40.6 | 51.1 | 43.0 | 54.1 | 55.4 | 135.4 | 203.7 | |
Silver ('000 ounces) (c) | 465 | 402 | 729 | 731 | 516 | 1,815 | 2,378 | |
(a) Includes a small amount of copper in precipitates. | ||||||||
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
COPPER & GOLD (continued) | ||||||||
Turquoise Hill Resources | ||||||||
Oyu Tolgoi mine (a) | 33.5% | |||||||
Mongolia | ||||||||
Ore Treated ('000 tonnes) | 9,819 | 10,087 | 9,637 | 10,615 | 10,838 | 38,152 | 41,177 | |
Average mill head grades: | ||||||||
Copper (%) | 0.61 | 0.51 | 0.51 | 0.48 | 0.53 | 0.65 | 0.51 | |
Gold (g/t) | 0.25 | 0.15 | 0.16 | 0.18 | 0.20 | 0.36 | 0.17 | |
Silver (g/t) | 1.50 | 1.30 | 1.38 | 1.34 | 1.54 | 1.83 | 1.39 | |
Copper concentrates produced ('000 tonnes) | 206.7 | 176.0 | 171.0 | 170.0 | 205.5 | 846.6 | 722.5 | |
Average concentrate grade (% Cu) | 22.0 | 21.6 | 21.8 | 21.7 | 22.0 | 23.8 | 21.8 | |
Production of metals in concentrates: | ||||||||
Copper in concentrates ('000 tonnes) | 45.5 | 38.1 | 37.2 | 36.9 | 45.3 | 201.3 | 157.4 | |
Gold in concentrates ('000 ounces) | 49.4 | 24.8 | 23.9 | 30.9 | 34.8 | 300.0 | 114.3 | |
Silver in concentrates ('000 ounces) | 273 | 215 | 236 | 239 | 285 | 1,420 | 974 | |
Sales of metals in concentrates: | ||||||||
Copper in concentrates ('000 tonnes) | 37.6 | 39.5 | 37.3 | 36.9 | 35.7 | 188.9 | 149.3 | |
Gold in concentrates ('000 ounces) | 39 | 32 | 23 | 28 | 27 | 347 | 111 | |
Silver in concentrates ('000 ounces) | 239 | 205 | 222 | 229 | 205 | 1,280 | 860 | |
(a) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi through its 50.79% interest in Turquoise Hill Resources. | ||||||||
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
DIAMONDS | ||||||||
Argyle Diamonds | 100.0% | |||||||
Western Australia | ||||||||
AK1 ore processed ('000 tonnes) | 1,283 | 1,144 | 1,112 | 1,255 | 1,446 | 5,097 | 4,957 | |
AK1 diamonds produced ('000 carats) | 3,584 | 3,016 | 3,216 | 4,757 | 6,146 | 13,958 | 17,135 | |
Diavik Diamonds | 60.0% | |||||||
Northwest Territories, Canada | ||||||||
Ore processed ('000 tonnes) | 539 | 531 | 556 | 578 | 525 | 2,214 | 2,190 | |
Diamonds recovered ('000 carats) | 1,649 | 1,894 | 1,865 | 1,961 | 1,767 | 6,658 | 7,486 | |
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
IRON ORE | ||||||||
Rio Tinto Iron Ore | ||||||||
Western Australia | ||||||||
Pilbara Operations | ||||||||
Saleable iron ore production ('000 tonnes) | ||||||||
Hamersley mines | (a) | 54,848 | 48,664 | 48,674 | 52,921 | 56,501 | 205,902 | 206,760 |
Hamersley - Channar | 60.0% | 1,866 | 2,725 | 3,172 | 2,661 | 2,241 | 9,731 | 10,798 |
Hope Downs | 50.0% | 11,588 | 10,435 | 12,575 | 11,956 | 11,975 | 47,010 | 46,941 |
Robe River - Pannawonica (Mesas J and A) | 53.0% | 8,477 | 7,188 | 6,936 | 8,416 | 8,642 | 32,776 | 31,182 |
Robe River - West Angelas | 53.0% | 8,748 | 8,154 | 8,444 | 9,011 | 8,507 | 34,044 | 34,116 |
Total production ('000 tonnes) | 85,526 | 77,165 | 79,801 | 84,965 | 87,866 | 329,463 | 329,797 | |
Breakdown of total production: | ||||||||
Pilbara Blend Lump | 24,902 | 23,618 | 24,671 | 25,342 | 25,496 | 95,915 | 99,127 | |
Pilbara Blend Fines | 36,988 | 32,755 | 34,682 | 36,748 | 37,641 | 142,804 | 141,826 | |
Robe Valley Lump | 3,066 | 2,741 | 2,753 | 2,962 | 3,106 | 11,551 | 11,563 | |
Robe Valley Fines | 5,411 | 4,446 | 4,183 | 5,454 | 5,535 | 21,226 | 19,619 | |
Yandicoogina Fines (HIY) | 15,159 | 13,605 | 13,512 | 14,458 | 16,088 | 57,968 | 57,663 | |
Breakdown of total sales: | ||||||||
Pilbara Blend Lump | 21,943 | 20,161 | 21,561 | 21,959 | 22,377 | 82,383 | 86,059 | |
Pilbara Blend Fines | 42,225 | 36,679 | 35,871 | 40,305 | 43,039 | 155,431 | 155,895 | |
Robe Valley Lump | 2,835 | 2,218 | 2,382 | 2,624 | 2,619 | 10,183 | 9,843 | |
Robe Valley Fines | 5,761 | 4,476 | 4,472 | 5,989 | 6,202 | 22,533 | 21,140 | |
Yandicoogina Fines (HIY) | 14,969 | 13,120 | 13,371 | 14,963 | 15,731 | 57,062 | 57,185 | |
Total sales ('000 tonnes) (b) | 87,732 | 76,655 | 77,658 | 85,840 | 89,968 | 327,592 | 330,122 | |
(a) Includes 100% of production from Paraburdoo, Mt Tom Price, Marandoo, Yandicoogina, Brockman, Nammuldi, Silvergrass 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. | ||||||||
Iron Ore Company of Canada | 58.7% | |||||||
Newfoundland & Labrador and Quebec in Canada | ||||||||
Saleable iron ore production: | ||||||||
Concentrates ('000 tonnes) | 1,915 | 1,889 | 2,212 | 2,469 | 1,980 | 8,357 | 8,549 | |
Pellets ('000 tonnes) | 2,756 | 2,504 | 2,356 | 2,932 | 2,675 | 9,798 | 10,467 | |
IOC Total production ('000 tonnes) | 4,671 | 4,392 | 4,569 | 5,401 | 4,655 | 18,155 | 19,016 | |
Sales: | ||||||||
Concentrates ('000 tonnes) | 1,955 | 2,031 | 1,599 | 2,319 | 2,655 | 8,344 | 8,605 | |
Pellets ('000 tonnes) | 3,004 | 2,409 | 2,536 | 2,707 | 2,750 | 9,983 | 10,402 | |
IOC Total Sales ('000 tonnes) | 4,960 | 4,441 | 4,135 | 5,027 | 5,404 | 18,326 | 19,006 | |
Global Iron Ore Totals | ||||||||
Iron Ore Production ('000 tonnes) | 90,196 | 81,558 | 84,370 | 90,365 | 92,521 | 347,619 | 348,814 | |
Iron Ore Sales ('000 tonnes) | 92,692 | 81,096 | 81,792 | 90,867 | 95,373 | 345,918 | 349,128 | |
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto operational data | ||||||||
Rio Tinto |
Q4 |
Q1 |
Q2 |
Q3 |
Q4 |
Full Year |
Full Year | |
SALT | ||||||||
Dampier Salt | 68.4% | |||||||
Western Australia | ||||||||
Salt production ('000 tonnes) | 2,028 | 1,246 | 2,159 | 1,795 | 2,246 | 7,578 | 7,446 | |
TITANIUM DIOXIDE SLAG | ||||||||
Rio Tinto Iron & Titanium | 100.0% | |||||||
Canada and South Africa | ||||||||
(Rio Tinto share) (a) | ||||||||
Titanium dioxide slag ('000 tonnes) | 300 | 332 | 316 | 327 | 341 | 1,048 | 1,315 | |
(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. | ||||||||
URANIUM | ||||||||
Energy Resources of Australia Ltd | ||||||||
Ranger mine (a) | 68.4% | |||||||
Northern Territory, Australia | ||||||||
U3O8 Production ('000 lbs) | 1,328 | 1,316 | 991 | 1,407 | 1,343 | 5,182 | 5,056 | |
(a) ERA production data are drummed U3O8. | ||||||||
Rössing Uranium Ltd (a) | 68.6% | |||||||
Namibia | ||||||||
U3O8 Production ('000 lbs) | 1,138 | 981 | 1,254 | 1,103 | 1,314 | 4,078 | 4,652 | |
(a) Rössing production data are drummed U3O8. | ||||||||
Rio Tinto percentage interest shown above is at 31 December 2017. The data represent full production and sales on a 100% basis unless otherwise stated. | ||||||||
Rio Tinto plc published this content on 16 January 2018 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 January 2018 07:04:03 UTC.
Original documenthttp://otp.investis.com/clients/uk/rio_tinto1/rns/regulatory-story.aspx?cid=507&newsid=966850
Public permalinkhttp://www.publicnow.com/view/BE7308484FD396425841AD47A469DEB8A805445B
