Rio Tinto 1st QPR

Rio Tinto PLC 23 April 2002 Rio Tinto Quarterly Production Report For the Quarter ending 31 March 2002 * Iron ore production in the first quarter of 2002 was 9% higher than the same period in 2001. Hamersley set a new first quarter production record reflecting the strong demand for fines product. Due to softer demand in some markets, shipments from Hamersley were 14% below the first quarter record set last year. Shipments from the Robe River joint venture were 14% higher. * Australian and Indonesian coal production was 17% higher than the first quarter of 2001 due to a full quarter contribution from the acquisitions in the first quarter of 2001 and increased production from Coal and Allied's Hunter Valley operations. US Coal production was marginally down on the first quarter of 2001. * Mined copper production was 16% below the first quarter of last year reflecting the November 2001 decision to reduce production at Escondida and the June 2001 closure of the North Concentrator at Kennecott. Production at Grasberg was adversely affected by lower grades. * Mined gold production was 23% below the first quarter of last year and 17% below the last quarter mainly due to lower head grades at Grasberg. * Aluminium production was broadly in line with previous quarters. Alumina production was 25% higher than this first quarter of 2001 due primarily to the acquisitions of additional equity in Queensland Alumina in September 2001. * Diamond production was 21% above the first quarter of 2001 but 22% below the last quarter of 2001, reflecting the variation in grades at Argyle. * Titanium feedstock production was 8% down compared with the equivalent quarter of 2001; borates production was 12% down due principally to inventory management and the timing of maintenance. For further information contact: LONDON MELBOURNE Media Relations Media Relations Lisa Cullimore Ian Head + 44 (0) 20 7753 2305 + 61 (0) 3 9283 3620 Investor Relations Investor Relations Peter Cunningham Dave Skinner + 44 (0) 7711 596570 + 61 (0) 3 9283 3628 Richard Brimelow Daphne Moros + 44 (0) 20 7753 2326 + 61 (0) 3 9283 3639 Website: www.riotinto.com RIO TINTO PRODUCTION SUMMARY RIO TINTO share of production Quarter FULL YEAR % Change 2001 2001 2002 2001 Q1 02 Q1 02 Q1 Q4 Q1 vs vs Q4 01 Q1 01 Principal Commodities Alumina ('000 t) 394 519 492 1,761 -5% 25% Aluminium ('000 t) 188.0 196.3 191.1 765.6 -3% 2% Borates ('000 t) 148 134 130 564 -3% -12% Coal - Australian And Indonesia ('000 t) 9,441 10,311 11,021 42,269 7% 17% Coal - US ('000 t) 26,407 28,337 25,853 106,661 -9% -2% Copper - mined ('000 t) 238.1 205.8 200.6 904.1 -2% -16% Copper - refined ('000 t) 100.5 100.4 104.1 361.2 4% 4% Diamonds ('000 cts) 5,086 7,950 6,177 26,100 -22% 21% Gold - mined ('000 ozs) 895 830 686 3,577 -17% -23% Gold - refined ('000 ozs) 102 112 127 389 13% 24% Iron ore ('000 t) 20,674 23,462 22,507 90,566 -4% 9% Titanium dioxide feedstock ('000 t) 356 341 328 1,427 -4% -8% Other Metals & Minerals Bauxite ('000 t) 3,032 2,968 2,881 11,795 -3% -5% Lead - mined ('000 t) 9.3 9.8 8.4 38.8 -14% -10% Molybdenum ('000 t) 2.8 1.6 1.7 8.1 5% -42% Nickel in matte (tonnes) 2,710 1,984 2,063 10,170 4% -24% Nickel - refined (tonnes) 910 892 943 3,719 6% 4% Salt ('000 t) 899 1,322 1,103 4,248 -17% 23% Silver - mined ('000 ozs) 4,634 4,272 4,192 17,703 -2% -10% Silver - refined ('000 ozs) 657 765 790 2,882 3% 20% Talc ('000 t) 322 315 322 1,267 2% 0% Tin (tonnes) 115 72 123 588 71% 7% Uranium (tonnes) 1,405 1,252 1,160 4,705 -7% -17% Zinc - mined ('000 t) 25.3 27.1 22.5 102.5 -17% -11% Zinc - refined ('000 t) 18.2 - - 20.4 - - NB Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page. The figures shown for production are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the full year figures. Rio Tinto Share of Production FULL 1Q 2Q 3Q 4Q 1Q YEAR Interest 2001 2001 2001 2001 2002 2001 ALUMINA Production ('000 tonnes) Eurallumina 56% 137 142 127 151 141 557 Queensland Alumina (a) 39% 257 271 308 368 352 1,204 Rio Tinto total alumina production 394 413 435 519 492 1,761 ALUMINIUM Refined production ('000 tonnes) Anglesey 51% 18.0 18.2 17.4 17.5 18.2 71.0 Bell Bay 100% 39.3 39.8 41.3 40.4 40.3 160.8 Boyne Island 54% 66.2 67.3 70.6 73.4 67.0 277.5 Tiwai Point 79% 64.4 64.4 62.4 65.0 65.6 256.2 Rio Tinto total aluminium production 188.0 189.7 191.7 196.3 191.1 765.6 BAUXITE Production ('000 tonnes) Boke 4% 119 120 175 55 122 469 Weipa 100% 2,913 2,820 2,680 2,913 2,759 11,326 Rio Tinto total bauxite production 3,032 2,940 2,855 2,968 2,881 11,795 BORATES Borates ('000 tonnes B2O3 content) Rio Tinto total borate production 100% 148 139 142 134 130 564 Coal COAL Type Australian coal operations ('000 tonnes) Coal & Allied Industries(b): Bengalla (c) 29% S 269 414 312 423 275 1,418 Hunter Valley Operations 73% S 1,067 1,031 1,914 1,933 1,419 5,945 73% M 888 705 687 633 767 2,913 Mount Thorley Operations 58% S 283 341 373 376 362 1,373 58% M 226 313 403 313 327 1,255 Moura (c) 40% S 145 330 208 184 268 867 40% M 261 290 282 247 323 1,080 Narama (c) 0% S 142 280 205 162 135 789 Ravensworth East (c) 0% S 126 357 281 332 281 1,096 Warkworth (c) 40% S 388 635 584 463 647 2,070 40% M 68 76 21 57 72 221 Pacific Coal: Blair Athol Coal 71% S 2,160 2,057 2,000 1,329 2,130 7,546 Kestrel Coal 80% S 179 250 348 185 259 962 80% M 327 468 572 287 505 1,654 Tarong Coal 100% S 1,293 1,396 1,253 1,333 1,314 5,276 Total Australian coal 7,822 8,942 9,443 8,256 9,083 34,464 Indonesian coal operations ('000 tonnes) Kaltim Prima Coal (d) 50% S 1,619 1,869 2,263 2,055 1,938 7,806 US coal operations ('000 tonnes) Kennecott Energy Antelope 100% S 5,426 5,355 5,525 6,038 5,335 22,344 Colowyo (e) 100% S 1,276 1,334 1,350 1,271 1,177 5,231 Cordero Rojo 100% S 9,702 9,621 9,676 10,453 9,100 39,452 Decker 50% S 1,155 975 993 1,133 1,072 4,255 Jacobs Ranch 100% S 7,003 7,138 5,404 7,067 6,869 26,612 Spring Creek 100% S 1,845 2,362 2,185 2,375 2,300 8,767 Total US coal 26,407 26,785 25,133 28,337 25,853 106,661 Rio Tinto total coal production 35,848 37,595 36,839 38,648 36,874 148,930 Mine production figures for metals refer to the total quantity of metal produced in concentrates or dore bullion irrespective of whether these products are then refined on-site. Key to coal type: S = Steaming/thermal coal, M = Metallurgical/coking coal. See footnotes on page 6. FULL 1Q 2Q 3Q 4Q 1Q YEAR Interest 2001 2001 2001 2001 2002 2001 COPPER Mine production ('000 tonnes) Alumbrera 25% 11.2 12.4 12.0 12.3 12.8 47.9 Bingham Canyon 100% 80.0 92.4 73.1 67.2 62.5 312.7 Escondida 30% 64.1 55.9 59.2 53.2 48.7 232.4 Grasberg - FCX (f) 15% 25.3 24.1 22.9 21.2 21.0 93.5 Grasberg - Joint Venture (f 40% 27.1 25.1 23.0 19.1 28.4 94.4 Neves Corvo (g) 49% 11.2 10.6 8.4 10.5 9.0 40.6 Northparkes 80% 10.9 10.7 11.4 11.0 9.5 44.1 Palabora (h) 49% 8.2 6.4 12.5 11.2. 8.6 38.4 Rio Tinto total mine production 238.1 237.6 222.7 205.8 200.6 904.1 Refined production ('000 tonnes) Atlantic Copper (f) 17% 10.1 7.8 10.5 10.7 10.3 39.1 Escondida 30% 10.9 11.5 11.4 11.4 11.0 45.3 Kennecott Utah Copper 100% 67.0 56.3 43.7 67.3 74.9 234.3 Palabora (h) 49% 12.4 9.2 9.9 11.0 8.0 42.5 Rio Tinto total refined production 100.5 84.8 75.5 100.4 104.1 361.2 At the end of the periods, the Group had provisionally priced sales of copper in concentrates and intermediate product as follows: Million lbs of payable copper: Alumbrera 25% 20 29 27 24 13 24 Escondida 30% 126 141 121 110 97 110 Grasberg (f) 15% 50 54 44 40 40 40 Kennecott Utah Copper 100% 20 10 0 0 0 0 Neves Corvo (g) 49% 13 25 12 5 6 5 Northparkes 80% 13 29 19 19 9 19 Rio Tinto total 241 289 223 198 165 198 Priced at US c/lb average 77 72 65 67 74 67 DIAMONDS Production ('000 carats) Argyle 99.8% 5,072 5,012 8,032 7,929 6,143 26,045 Merlin 100% 15 7 13 20 34 55 Rio Tinto total diamond production 5,086 5,019 8,045 7,950 6,177 26,100 GOLD Mine production ('000 ounces) Alumbrera 25% 34 44 44 47 51 168 Barneys Canyon 100% 37 30 32 41 27 140 Bingham Canyon 100% 151 179 142 120 125 592 Cortez/Pipeline 40% 118 122 118 118 111 475 Escondida 30% 7 7 7 8 8 30 Grasberg - FCX (f) 15% 108 111 99 70 52 388 Grasberg - Joint Venture (f) 40% 222 238 220 199 86 880 Greens Creek 70% 16 15 15 15 17 62 Kelian 90% 94 87 117 110 103 408 Lihir 16% 30 26 29 20 24 105 Morro do Ouro 51% 24 23 23 24 28 95 Northparkes 80% 7 10 7 9 9 33 Peak 100% 20 29 28 25 27 101 Rawhide 51% 13 14 13 12 12 52 Rio Tinto Zimbabwe 56% 11 10 9 8 6 38 Others - 3 2 2 3 2 10 Rio Tinto total mine production 895 946 906 830 686 3,577 Refined production ('000 ounces) Kennecott Utah Copper 100% 102 87 88 112 127 389 Mine production figures for metals refer to the total quantity of metal produced in concentrates or dore bullion irrespective of whether these products are then refined on-site. See footnotes on page 6. FULL 1Q 2Q 3Q 4Q 1Q YEAR Interest 2001 2001 2001 2001 2002 2001 IRON ORE Production ('000 tonnes) Channar 60% 1,472 1,630 1,622 1,929 1,517 6,653 Corumba 100% 156 116 206 164 104 642 Hamersley 100% 13,579 14,352 15,748 15,149 14,653 58,828 Iron Ore Company Of Canada (i) 56% 1,874 2,426 2,028 1,841 1,815 8,169 Robe River 53% 3,594 3,694 4,607 4,379 4,418 16,274 Rio Tinto total mine production 20,674 22,218 24,212 23,462 22,507 90,566 LEAD Mine production ('000 tonnes) Greens Creek 70% 3.6 3.4 3.7 3.7 3.7 14.3 Zinkgruvan 100% 5.7 6.9 5.8 6.1 4.7 24.5 Rio Tinto Total mine Production 9.3 10.3 9.5 9.8 8.4 38.8 MOLYBDENUM Mine production ('000 tonnes) Bingham Canyon 100% 2.8 2.2 1.5 1.6 1.7 8.1 NICKEL Nickel in matte (tonnes) Fortaleza 100% 2,710 2,487 2,989 1,984 2,063 10,170 Toll refined metal production (tonnes) Rio Tinto Zimbabwe - Empress 56% 910 925 992 892 943 3,719 SALT Production ('000 tonnes) Dampier 65% 899 1,020 1,007 1,322 1,103 4,248 SILVER Mine production ('000 ounces) Bingham Canyon 100% 1,029 1,328 1,076 1,042 1,032 4,475 Escondida 30% 255 266 227 212 209 959 Grasberg - FCX (f) 15% 213 183 162 141 151 700 Grasberg - Joint Venture (f) 40% 76 193 178 193 115 641 Greens Creek 70% 2,285 1,795 1,814 1,809 1,960 7,703 Zinkgruvan 100% 347 396 326 427 324 1,496 Others - 429 456 396 447 401 1,729 Rio Tinto total mine production 4,634 4,618 4,180 4,272 4,192 17,703 Refined production ('000 ounces) Kennecott Utah Copper 100% 657 834 626 765 790 2,882 TALC Production ('000 tonnes) Luzenac Group 99.9% 322 318 311 315 322 1,267 TIN Mine production (tonnes) Neves Corvo (g) 49% 115 210 192 72 123 588 TITANIUM DIOXIDE FEEDSTOCK Production ('000 tonnes) Rio Tinto Iron & Titanium 100% 356 371 359 341 328 1,427 Mine production figures for metals refer to the total quantity of metal produced in concentrates or dore bullion irrespective of whether these products are then refined on-site, except for the data for iron ore which represent production of saleable quantities of ore plus pellets. The nickel in matte production reflects the contained tonnage of nickel. See footnotes on page 6. Rio Tinto Share of Production FULL 1Q 2Q 3Q 4Q 1Q YEAR Interest 2001 2001 2001 2001 2002 2001 URANIUM Production (tonnes U3O8) Energy Resources of Australia 68% 903 648 540 790 650 2,880 Palabora (h) 49% 6 5 4 - - 15 Rossing 69% 497 308 544 462 510 1,811 Rio Tinto total uranium production 1,405 960 1,087 1,252 1,160 4,705 ZINC Mine production ('000 tonnes) Greens Creek 70% 10.0 9.7 10.6 10.5 11.4 40.7 Zinkgruvan 100% 15.3 14.8 15.1 16.6 11.1 61.8 Rio Tinto total mine production 25.3 24.5 25.7 27.1 22.5 102.5 Refined production ('000 tonnes) Norzink (j) 0% 18.2 2.3 - - - 20.4 (a) Comalco increased its holding in Queensland Alumina Limited from 30.3% to 38.6%, with effect from September 2001. (b) During March 2001, Rio Tinto increased its stake in Coal & Allied from 70.9% to 72.7%. (c) Production data are shown from 29 January 2001, the effective date of Coal & Allied's acquisition of the Australian coal businesses of the Peabody Group. Effective on the same date, Coal & Allied acquired an additional 11.8% interest in the Warkworth mine. In February 2002, Coal & Allied conditionally agreed to sell its interest in the Moura coal mine in Queensland. On 14 March 2002, Coal & Allied completed the sale of its interests in Narama and Ravensworth; production data are shown up to the date of sale. (d) Rio Tinto has a 50% share in Kaltim Prima and, under the terms of its Coal Agreement, the Indonesian Government is entitled to a 13.5% share of Kaltim Prima's production. Rio Tinto's share of production shown is before deduction of the Government share. (e) Kennecott Energy has a partnership interest in the Colowyo mine, but, as it is responsible under a management agreement for the operation of the mine, all of Colowyo's output is included in Rio Tinto's share of production. (f) Rio Tinto's initial interests in the Grasberg mine and in the Atlantic Copper smelter were acquired in 1995 by virtue of an acquisition of shares in Freeport-McMoRan Copper & Gold (FCX). As a result of FCX share buy-backs and other shareholding movements, Rio Tinto's interests in FCX and Grasberg have changed and, as of 31 March 2002, Rio Tinto had a 15.1% share in Grasberg and a 16.6% share in Atlantic Copper. Under the Joint Venture agreement with FCX, Rio Tinto is entitled to 40% of additional material mined as a consequence of the expansion of the Grasberg facilities. The additional entitlement is shown separately in the above tables. (g) In January 2002, Rio Tinto agreed to sell its interest in the Neves Corvo mine subject to certain conditions. (h) In July 2001, Rio Tinto increased its holding in Palabora from 48.6% to 49.2%. (i) During the first half of 2001, Rio Tinto acquired 20.3% of the Labrador Iron Ore Royalty Income Fund. The Fund has a shareholding in Iron Ore Company of Canada but this has not been included in the calculation of tonnage attributable to Rio Tinto. (j) Rio Tinto completed the sale of its interest in Norzink on 17 April 2001. Where Rio Tinto's beneficial interest in an operation has changed, as indicated above, the share of production has been calculated using the weighted average interest over the relevant periods. OPERATIONAL DATA FULL 1Q 2Q 3Q 4Q 1Q YEAR 2001 2001 2001 2001 2002 2001 ALUMINIUM Anglesey Aluminium Total production at Anglesey Aluminium (Rio Tinto 51%) in the UK. (100% basis) Aluminium hot metal production ('000 tonnes) 35.3 35.7 34.0 34.2 35.7 139.3 Comalco Total production at Comalco operations; Weipa (Rio Tinto 100%) in Australia; Boke (Rio Tinto 4%) in Guinea; Eurallumina (Rio Tinto 56.2%) in Italy; Queensland Alumina (Rio Tinto 38.6% (a)) in Australia; Bell Bay (Rio Tinto 100%) in Australia; Boyne Island (Rio Tinto 54.2%) in Australia and Tiwai Point (Rio Tinto 79.4%) in New Zealand. (100% basis) Weipa mine, Queensland Beneficiated bauxite Production ('000 tonnes) 2,913 2,820 2,680 2,913 2,759 11,326 Metal grade bauxite shipments ('000 tonnes) 2,841 2,658 2,678 2,831 2,730 11,008 Calcined bauxite Production ('000 tonnes) 33 41 49 23 49 146 Boke mine Bauxite production ('000 tonnes) 3,168 2,983 3,046 2,790 3,138 11,987 Eurallumina SpA, Sardinia Alumina production ('000 tonnes) 244 254 226 269 251 993 Queensland Alumina Limited, Queensland Alumina production ('000 tonnes) 847 894 930 953 911 3,624 Bell Bay, Tasmania Primary aluminium production ('000 tonnes) 39.3 39.8 41.3 40.4 40.3 160.8 Boyne Island, Queensland Primary aluminium production ('000 tonnes) 122.5 125.2 129.7 131.5 125.1 508.9 Tiwai Point Primary aluminium production ('000 tonnes) 81.0 81.4 78.7 81.2 82.4 322.3 Sales of aluminium attributable to Comalco ('000 tonnes) 155.1 183.5 185.8 165.4 177.4 689.9 (a) Comalco increased its shareholding in Queensland Alumina Limited from 30.3% to 38.6% with effect from September 2001. Weipa production in the first quarter of 2002 was affected by reduced demand and by equipment restrictions during the wet season. A power outage at the Boyne Island smelter in January resulted in reduced production in the first quarter of 2002. Production at the Tiwai Point and Bell Bay smelters in the first quarter of 2002 was consistent with production in previous quarters. Tiwai Point remains power constrained. Improved aluminium sales in the first quarter of 2002, compared with the last quarter of 2001, were primarily due to sales that were deferred from the fourth quarter of 2001. BORATES Rio Tinto Borax Total production at the Boron mine (Rio Tinto 100%) in California, US and at the Tincalayu, Sijes, Porvenir and Maggie mines (Rio Tinto 100%) in Argentina. (100% basis) Borates ('000 tonnes) (a) 148 139 142 134 130 564 (a) Production is expressed as B2O3 content. COAL Coal & Allied Industries Limited (a) Total production and sales from the Bengalla mine (Rio Tinto 29%); Hunter Valley Operations (Rio Tinto 73%); the Mount Thorley Operations (Rio Tinto 58%); the Narama mine (sold on 14th March 2002); the Ravensworth East mine (Rio Tinto 0%) and the Warkworth mine (sold on 14th March 2002), all in New South Wales, and the Moura mine (Rio Tinto 40%) in Queensland, Australia. (100% basis) Bengalla mine (b) Thermal coal production ('000 tonnes) 944 1,423 1,073 1,454 944 4,894 Hunter Valley Operations Thermal coal production ('000 tonnes) 1,500 1,418 2,632 2,659 1,951 8,209 Semi-soft coking coal Production ('000 tonnes) 1,248 970 945 871 1,055 4,034 Mount Thorley Operations Thermal coal: production ('000 tonnes) 497 588 643 648 623 2,376 Semi-soft coking coal Production ('000 tonnes) 397 540 694 540 562 2,171 Moura mine (b)(c) Thermal coal production ('000 tonnes) 370 825 521 459 670 2,175 Semi-soft coking coal production ('000 tonnes) 643 722 472 438 577 2,275 Coking coal production ('000 tonnes) 22 3 234 179 230 438 Narama mine (b)(c) Thermal coal production ('000 tonnes) 399 769 564 445 370 2,177 Ravensworth East Mine (b)(c) Thermal coal production ('000 tonnes) 177 491 386 457 387 1,511 Warkworth mine (b) Thermal coal production ('000 tonnes) 979 1,571 1,446 1,145 1,602 5,141 Semi-soft coking coal production ('000 tonnes) 172 187 51 140 178 550 Total Coal & Allied Total coal production ('000 tonnes) 7,348 9,507 9,661 9,435 9,149 35,951 Total sales ('000 tonnes) (d) 7,694 9,507 9,009 9,503 8,786 35,713 (a) During March 2001, Rio Tinto increased its stake in Coal & Allied from 70.88% to 72.71%. (b) Coal & Allied purchased the Australian coal businesses (see note (c)) of the Peabody Group effective 29 January 2001. Effective on the same date Coal & Allied acquired an additional 11.8% interest in the Warkworth mine. (c) The sale of Coal & Allied's share of Narama and Ravensworth was completed on 14 March 2002. In February 2002, Coal & Allied conditionally agreed to sell its interest in the Moura coal mine. (d) Sales relate only to coal mined by the operations and exclude traded coal. Coal production for the first quarter of 2002 was down from the previous quarter due to a deferral of sales until the second quarter of 2002. This decrease occurred primarily at Hunter Valley Operations and Bengalla where mining equipment was focused on overburden removal to sustain coal production capacity for the remainder of the year. Coal production at Moura increased in the first quarter of 2002, compared with the last quarter of 2001, due to improved ground conditions for the dragline. Ravensworth and Narama production data reflect the 14 March sale date.Coal production at the Warkworth mine increased in the first quarter of 2002, compared with the fourth quarter of 2001 when dragline and preparation plant maintenance affected output. First quarter 2001 figures for Moura, Warkworth, Ravensworth East, Narama and Bengalla are taken from the date of acquisition and reflect two months of ownership. Kaltim Prima Coal Total production and shipments from Kaltim Prima Coal (Rio Tinto 50%) in Indonesia, including the share of production attributed to the Indonesian Government (see footnote (d) on page 6). (100% basis) Thermal Coal: Production ('000 tonnes) 3,238 3,737 4,526 4,110 3,877 15,611 Shipments ('000 tonnes) 3,309 3,622 4,205 4,505 3,859 15,641 Production in the first quarter of 2002 was affected by increased haul distances. Kennecott Energy and Coal Company Total production from the mines operated by Kennecott Energy and Coal Company in the US: Antelope (Rio Tinto 100%) in Wyoming; Cordero Rojo (Rio Tinto 100%) in Wyoming; Jacobs Ranch (Rio Tinto 100%) in Wyoming; Spring Creek (Rio Tinto 100%) in Montana; Decker (Rio Tinto 50%) in Montana and Colowyo in Colorado, where Kennecott Energy has a partnership interest and full management responsibility (see footnote (e) on page 6). (100% basis) Antelope mine Thermal coal production ('000 tonnes) 5,426 5,355 5,525 6,038 5,335 22,344 Colowyo mine Thermal coal production ('000 tonnes) 1,276 1,334 1,350 1,271 1,177 5,231 Cordero Rojo mine Thermal coal production ('000 tonnes) 9,702 9,621 9,676 10,453 9,100 39,452 Decker mine Thermal coal production ('000 tonnes) 2,310 1,949 1,985 2,266 2,143 8,510 Jacobs Ranch mine Thermal coal production ('000 tonnes) 7,003 7,138 5,404 7,067 6,869 26,612 Spring Creek mine Thermal coal production ('000 tonnes) 1,845 2,362 2,185 2,375 2,300 8,767 Total Kennecott Energy Total coal production ('000 tonnes) 27,562 27,759 26,125 29,470 26,924 110,916 Production for the first quarter of 2002, which was 2% lower than for the same period of 2001, was in line with demand. Prices for coal remained soft due to the effect on demand of an unusually mild winter, coupled with the current economic slowdown. Utility coal stockpile volumes remained high and some of the anticipated 2002 winter sales did not materialise. COAL (Continued) FULL 1Q 2Q 3Q 4Q 1Q YEAR 2001 2001 2001 2001 2002 2001 Pacific Coal Total production and sales from the Blair Athol Coal mine (Rio Tinto 71.2%), the Kestrel Coal mine (Rio Tinto 80%) and the Tarong Coal mine (Rio Tinto 100%) all in Queensland, Australia. (100% basis) Blair Athol Coal mine Thermal coal: Production ('000 tonnes) 3,032 2,887 2,808 1,865 2,990 10,592 Sales ('000 tonnes) 2,926 3,151 2,419 1,814 3,549 10,310 Kestrel Coal mine Thermal coal: Production ('000 tonnes) 224 312 435 231 323 1,202 Sales ('000 tonnes) 212 105 104 225 100 645 Coking coal: Production ('000 tonnes) 409 585 715 359 631 2,068 Sales ('000 tonnes) 314 535 483 312 298 1,644 Semi-hard coking coal: (a) Sales ('000 tonnes) 162 238 378 457 196 1,235 Tarong Coal mine Thermal coal: Production ('000 tonnes) 1,293 1,396 1,253 1,333 1,314 5,276 Sales ('000 tonnes) 1,310 1,300 1,236 1,474 1,242 5,321 Total Pacific Coal Total coal production ('000 tonnes) 4,958 5,181 5,211 3,788 5,258 19,138 (a) Semi-hard coking coal is a mixture of thermal coal and coking coal. The product mix is customer dependent. Production at Blair Athol in the first quarter of 2002 was in line with expectations. Sales were higher due to shipments carried over from the last quarter of 2001. Despite improved production, a rebuilding of stocks from very low levels resulted in lower sales at Kestrel in the first quarter of 2002, compared with the fourth quarter of 2001. Tarong sales were lower in the first quarter of 2002, compared with the fourth quarter 2001, due to a unit shutdown at Tarong power station. COPPER & GOLD Alumbrera Total production and sales at the Bajo de la Alumbrera mine (Rio Tinto 25%) in Argentina. (100% basis) Ore treated ('000 tonnes) 7,041 7,483 7,515 7,142 7,145 29,181 Average ore grades: Copper (%) 0.71 0.74 0.71 0.74 0.76 0.72 Gold (g/t) 0.8 1.0 1.0 1.1 1.1 1.0 Concentrate produced ('000 tonnes) 160.4 177.3 174.5 178.3 183.4 690.5 Copper in concentrates: Production ('000 tonnes) 44.7 49.6 48.1 49.2 51.0 191.6 Sales ('000 tonnes) 37.9 57.0 39.3 53.6 50.9 187.8 Production of gold in concentrates ('000 ounces) 127 166 166 178 188 637 Production of gold in dore ('000 ounces) 7 9 9 10 15 36 Total gold sales ('000 ounces) 118 193 146 200 202 657 Escondida Total production at the Escondida mine (Rio Tinto 30%) in Chile. (100% basis) Sulphide ore treated ('000 tonnes) 11,128 10,650 11,204 10,060 10,452 43,042 Average copper grade (%) 1.95 1.82 1.75 1.72 1.53 1.81 Mill production (metals in concentrates): Contained copper ('000 tonnes) 177.1 160.6 161.0 144.4 134.9 643.1 Contained gold ('000 ounces) 24 24 25 28 27 101 Contained silver ('000 ounces) 849 887 757 705 698 3,198 Oxide ore treated ('000 tonnes) 3,360 2,494 3,162 3,225 3,054 12,241 Average copper grade (%) 1.09 1.03 1.15 1.01 0.91 1.07 Contained copper in leachate/mined material ('000 tonnes) 37 26 36 33 28 132 Refined production: Oxide plant production ('000 tonnes) 36.5 38.3 38.1 38.1 36.8 151.0 Contained metal production in the first quarter of 2002 was adversely affected by Escondida's announcement, on 8 November 2001, of reduced production due to market conditions. Freeport-McMoRan Copper & Gold Total production and sales at the Grasberg mine (Rio Tinto 15.1% (a)) in Papua, Indonesia, and the Atlantic Copper smelter (Rio Tinto 16.6%) in Spain. (100% basis) Grasberg mine Ore treated ('000 tonnes) 20,665 21,842 22,500 21,780 21,979 86,787 Average mill head grades: Copper (%) 1.13 1.04 0.96 0.89 0.90 1.00 Gold (g/t) 1.68 1.57 1.36 1.03 0.73 1.41 Silver (g/t) 3.45 3.33 3.03 2.99 2.76 3.20 Production of metals in concentrates: Copper in concentrates ('000 tonnes) 204.4 193.9 183.3 167.8 167.9 749.4 Gold in concentrates ('000 ounces) 975 1,013 915 693 432 3,596 Silver in concentrates ('000 ounces) 1,570 1,478 1,313 1,184 1,120 5,545 Sales of payable metals in concentrates: (b) Copper in concentrates ('000 tonnes) 174.6 203.1 181.8 166.6 161.7 726.1 Gold in concentrates ('000 ounces) 833 1,062 904 700 420 3,499 Silver in concentrates ('000 ounces) 1,078 1,238 1,030 934 863 4,280 (a) See note (f) on page 6 for details of Rio Tinto's 15.1% interest in Grasberg and 40% interest in the expansion. (b) Net of smelter deductions. In the first quarter of 2002, average mill head grades for gold declined compared with the fourth quarter of 2001, resulting in lower gold production and sales. Production and sales of copper and gold in the first quarter of 2002 decreased significantly, compared with the corresponding period of 2001, because of lower ore grades. Atlantic Copper smelter Concentrate smelted ('000 tonnes) 205.5 195.3 240.1 250.2 258.3 891.1 Copper anodes produced ('000 tonnes) (c) 65.3 60.9 77.0 76.8 77.2 280.0 Copper cathodes produced ('000 tonnes) 60.8 47.2 63.0 64.3 61.8 235.3 Copper cathode sales ('000 tonnes) (d) 61.5 58.6 62.6 66.7 61.6 249.4 (c) New metal excluding recycled material. (d) Refers to copper cathode and wire rod sales. Kelian Equatorial Mining Total production and sales from the Kelian gold mine (Rio Tinto 90%) in East Kalimantan, Indonesia. (100% basis) Ore treated ('000 tonnes) 1,710 1,610 1,789 1,893 1,716 7,002 Average ore grades: Gold (g/t) 2.60 2.49 2.95 2.71 2.62 2.69 Silver (g/t) 5.93 6.03 5.80 5.42 4.92 5.78 Production: Gold ('000 ounces) 105 96 130 123 114 453 Silver ('000 ounces) 86 80 87 85 88 338 Sales: Gold ('000 ounces) 112 99 121 134 109 466 Silver ('000 ounces) 122 68 - - - 190 Mill throughput in the first quarter of 2002 was lower than in the previous quarter as a crack in the ball mill shell required a seven day maintenance shutdown. Silver sales will recommence in the second quarter of 2002 following resolution of a tax issue. Kennecott Minerals Company Total production at the mines of Kennecott Minerals Company in the US; Cortez/Pipeline (Rio Tinto 40%) in Nevada; Greens Creek (Rio Tinto 70%) in Alaska and Rawhide (Rio Tinto 51%) in Nevada. (100% basis) Cortez/Pipeline mine Ore treated Milled ('000 tonnes) 744 842 784 829 825 3,199 Leached ('000 tonnes) 2,186 4,896 4,675 3,797 3,804 15,554 Sold for roasting ('000 tonnes) 77 99 113 101 102 390 Average ore grade: Gold Milled (g/t) 9.43 8.21 8.41 9.23 8.29 8.81 Leached (g/t) 1.23 1.20 1.01 1.00 1.10 1.10 Sold for roasting (g/t) 16.42 12.15 6.84 7.84 8.50 10.34 Gold produced ('000 ounces) 295 304 294 295 278 1,188 Ore treatment rates and grades varied according to areas being mined and ore type. Heap leach pad area and solution treatment capacity have been expanded to increase gold production from leaching. Greens Creek mine Ore treated ('000 tonnes) 147 139 154 157 160 597 Average ore grades: Gold (g/t) 7.23 6.74 6.31 6.36 6.51 6.65 Silver (g/t) 899 735 684 673 722 746 Zinc (%) 12.4 12.4 12.0 11.7 12.5 12.1 Lead (%) 5.1 4.7 4.7 4.6 4.7 4.8 Metals produced in concentrates: Gold ('000 ounces) 23 21 22 22 24 88 Silver ('000 ounces) 3,252 2,555 2,582 2,575 2,789 10,964 Zinc ('000 tonnes) 14.2 13.8 15.1 14.9 16.2 58.0 Lead ('000 tonnes) 5.1 4.8 5.2 5.2 5.3 20.3 Mill throughput continued to increase through optimization efforts. Metal grades varied with the mining sequence and ore zone sourcing. Longhole stoping was initiated, allowing increased stope productivity at reduced production costs. Rawhide mine Ore treated ('000 tonnes) 1,362 1,510 1,418 1,433 1,407 5,723 Average ore grades: Gold (g/t) 0.99 0.99 0.99 0.86 1.03 0.96 Silver (g/t) 15.9 14.8 19.0 15.9 14.2 16.4 Metals produced in dore: Gold ('000 ounces) 25 27 25 24 23 101 Silver ('000 ounces) 177 201 177 175 193 730 Mill throughput rates varied due to changing ore hardness, maintenance requirements and haulage distance as ore mining proceeded within the lower benches of the mine. Silver grade fluctuated as a result of mining sequence. Gold and silver production reflected delays in recovery from the leach pads due to higher stacking. Kennecott Utah Copper Total production at Kennecott's Barneys Canyon mine (Rio Tinto 100%) and Bingham Canyon mine, smelter and refinery (Rio Tinto 100%) both in Utah, US. Barneys Canyon Mine Ore treated ('000 tonnes) 380 549 639 432 102 2,000 Average ore grade: Gold (g/t) 2.64 3.52 3.71 3.15 1.17 3.33 Gold produced in dore and concentrates ('000 ounces) 37 30 32 41 27 140 Gold production in the first quarter of 2002 was lower than in the first quarter of 2001 and the fourth quarter of 2001 principally due to timing of flows from the heap leach pads. Mining operations ceased in December 2001. Crushing operations will wind-down as inventory is exhausted. Bingham Canyon Mine Ore treated ('000 tonnes) 14,408 12,792 11,163 10,203 9,999 48,566 Average ore grade: Copper (%) 0.63 0.82 0.74 0.73 0.69 0.73 Gold (g/t) 0.46 0.61 0.58 0.55 0.57 0.54 Silver (g/t) 2.91 4.07 3.91 3.99 3.93 3.67 Molybdenum (%) 0.049 0.048 0.037 0.035 0.039 0.042 Copper concen- trates produced ('000 tonnes) 296 312 261 239 219 1,108 Average concentrate grade (% Cu) 26.9 29.6 28.0 28.0 28.5 28.1 Production of metals in copper concentrates: Copper ('000 tonnes) (a) 80.0 92.4 73.1 67.2 62.5 312.7 Gold ('000 ounces) 151 179 142 120 125 592 Silver ('000 ounces) 1,029 1,328 1,076 1,042 1,032 4,475 Molybdenum concentrates produced ('000 tonnes) 5.1 3.8 2.8 2.8 3.0 14.5 Molybdenum in concentrates ('000 tonnes) 2.8 2.2 1.5 1.6 1.7 8.1 Kennecott smelter & refinery Copper concentrates smelted ('000 tonnes) 212 236 256 271 258 975 Copper anodes produced ('000 tonnes) (b) 61.0 65.1 42.1 76.0 76.7 244.2 Production of refined metal: Copper ('000 tonnes) 67.0 56.3 43.7 67.3 74.9 234.3 Gold ('000 ounces) (c) 102 87 88 112 127 389 Silver ('000 ounces) (c) 657 834 626 765 790 2,882 (a) Includes a small amount of copper in precipitates. (b) New metal excluding recycled material. (c) Includes gold and silver in intermediate products. First quarter 2002 mine production of copper and gold was lower than in the comparable quarter of 2001, mainly due to the June 2001 closure of the North Concentrator; this produced approximately 60,000 tonnes per annum of copper in concentrate. Molybdenum output was lower than in the comparable quarter of 2001 because of lower ore grade, recovery and throughput. Mine production was further affected in the first quarter of 2002 by the processing of hard ore through the Copperton Concentrator. Smelter and refinery performance improved in the first quarter of 2002 largely due to higher plant availability. Lihir Gold Total production at the Lihir gold mine (Rio Tinto 16.3%) in Papua New Guinea. (100% basis) Ore treated ('000 tonnes) 962 864 966 827 905 3,619 Average ore grade: gold (g/t) 6.64 6.59 6.00 5.43 5.50 6.18 Gold produced ('000 ounces)(a) 187 160 178 123 148 648 (a) Gold production represents quantity of gold poured. Production for the first quarter of 2002, compared with the comparable quarter of 2001, was affected by the lower head grade and lower than anticipated process plant availability, following problems experienced with the oxygen plant. Northparkes Joint Venture Total production and sales at the Northparkes mine (Rio Tinto 80%) in New South Wales, Australia. (100% basis) Sulphide ore treated ('000 tonnes) 1,315 1,295 1,371 1,444 1,397 5,425 Average ore grade: Copper (%) 1.18 1.17 1.18 1.11 1.00 1.16 Gold (g/t) 0.29 0.39 0.28 0.32 0.34 0.32 Copper concentrates produced ('000 tonnes) 35.5 35.2 37.3 36.2 30.2 144.2 Contained copper in concentrates: Saleable production ('000 tonnes) 13.7 13.4 14.3 13.8 11.9 55.1 Sales ('000 tonnes)(a) 9.3 14.5 10.4 10.5 10.4 44.7 Contained gold in concentrates: Saleable production ('000 ounces) 9.3 12.7 8.7 10.8 11.3 41.5 Sales ('000 ounces) (a) 5.4 12.0 6.1 8.2 10.4 31.6 (a) Rio Tinto's 80% share of material from the Joint Venture. Copper grades continued to decline in line with expectations, with a number of underground drawpoints closed during the quarter as their assessed grades fell below economic shut off limits. It is likely that grades will now remain below 1% copper for the remainder of the year. Production from the open pits continued to supplement underground feed, resulting in a marginal improvement in gold grade. Palabora Total production at the Palabora mine, smelter and refinery (Rio Tinto 49.2%(a)) in South Africa. (100% basis) Palabora mine Ore treated ('000 tonnes) 4,167 2,745 4,056 3,555 2,558 14,522 Average ore grade copper (%) 0.60 0.59 0.70 0.72 0.77 0.66 Copper concentrates produced ('000 tonnes) 51.9 42.6 72.8 66.3 55.8 233.5 Average concentrate grade: copper (%) 32.6 31.0 35.0 34.3 31.4 33.6 Copper in concentrates ('000 tonnes) 16.9 13.2 25.5 22.8 17.5 78.4 Palabora smelter/refinery New concentrate smelted on site ('000 tonnes) 75.5 77.3 86.9 70.7 65.7 310.4 New copper anodes produced ('000 tonnes)(b) 25.8 19.7 22.9 16.7 17.8 85.0 Refined new copper produced ('000 tonnes) 25.6 18.9 20.1 22.2 16.2 86.9 By-products: Magnetite concentrate ('000 tonnes) 44 43 55 59 51 201 Uranium oxide (tonnes) 13 10 8 - - 31 Baddeleyite (several grades) ('000 tonnes) 1.7 1.3 1.0 - - 4.0 Refined nickel sulphate (tonnes) 74 59 38 74 73 245 Vermiculite Plant Vermiculite produced ('000 tonnes) 36.1 34.9 47.2 42.1 44.0 160.3 (a) Rio Tinto increased its holding in Palabora from 48.6% to 49.2% in July 2001. (b) Contained copper in anodes; anode production includes a small amount produced from purchased material. Reduced supply of ore and shut down of the reverberatory furnace had a major influence on copper production in the first quarter of 2002. Ex-pit ore production in the first quarter of 2002 was in line with expectations. Concentrate production was adversely affected by the delayed processing of slag and lack of underground ore. High dolerite content in the ex-pit and underground ores restricted the milling throughput. However, the copper recovery and concentrate grades benefited from the favourable mineralogy. Smelting operations were hampered by the failure of the refractory bricks and a collapse of the reverberatory furnace wall. The failure of ancillary equipment and low availability of converters further constrained anode production during the first half of the quarter. Production improved steadily in the second half of the quarter. Notwithstanding the low anode supply from the smelter, stable operations were sustained in the refinery. Precious metal and nickel sulphate production were in line with tankhouse utilisation. Vermiculite production was better than in the equivalent quarter of 2001 which was hampered by wet in pit conditions and by low availability of plant and heavy equipment. Uranium and baddeleyite production has ceased following the closure of the heavy minerals plant in August 2001. Peak Gold Mine Total production and sales from the Peak Gold mine (Rio Tinto 100%) in New South Wales, Australia. Ore treated ('000 tonnes) 148 149 144 153 157 594 Average ore grades: Gold (g/t) 4.55 6.60 6.82 5.57 5.81 5.88 Silver (g/t) 5.30 4.36 24.63 5.94 3.16 9.91 Copper (%) 0.38 0.50 0.38 0.47 0.44 0.43 Lead (%) 0.96 0.76 1.01 0.50 0.29 0.80 Zinc (%) 1.75 1.18 2.08 0.77 0.42 1.44 Bullion produced ('000 ounces) 22 32 41 25 27 120 Containing: Gold ('000 ounces) 19 26 25 23 25 92 Silver ('000 ounces) 3 6 14 1 2 24 Gold recovered in concentrates ('000 ounces) 1 3 3 2 2 9 Total gold production ('000 ounces) 20 29 28 25 27 101 Bullion sales (fine gold) ('000 ounces) 22 22 25 23 27 91 Copper in concentrate ('000 tonnes): Production 0.2 0.4 0.1 0.2 0.2 0.9 Sales - - - 1.1 - 1.1 Lead/zinc in concentrate ('000 tonnes): Production 1.7 1.6 1.1 0.2 - 4.6 Sales 2.3 1.8 0.6 1.4 0.9 6.1 Production of lead/zinc blend concentrate ceased at the end of 2001. Limited copper production is expected beyond the first quarter of 2002 until ore is mined from the Perseverance development in subsequent years. Production from the New Occidental development, with improved gold grades, is expected to ramp up from the end of the second quarter of 2002. Rio Tinto Brasil Limitada Total production at the Morro do Ouro gold mine (Rio Tinto 51%) in Minas Gerais, Brazil. (100% basis) Morro do Ouro Mine Ore treated ('000 tonnes) 3,938 3,868 4,115 4,567 4,692 16,488 Average ore grade: gold (g/t) 0.47 0.47 0.43 0.42 0.48 0.45 Refined gold produced ('000 ounces) 48 46 46 47 55 187 Production increased from 2001 levels due to increased plant availability and improved head grades. Rio Tinto Zimbabwe Total production at Rio Tinto Zimbabwe's gold operations (Rio Tinto 56%) in Zimbabwe. (100% basis) Cam Dump Reprocessing Ore treated ('000 tonnes) 238 261 - - - 499 Average ore grade: gold (g/t) 1.29 1.49 - - - 1.39 Total gold produced ('000 ounces) 3 2 - - - 5 Patchway mine (a) Ore treated ('000 tonnes) 24 24 25 24 23 98 Average ore grade: gold (g/t) 4.09 4.35 4.88 4.62 4.41 4.49 Total gold produced ('000 ounces) 3 3 4 3 3 12 Renco mine Ore treated ('000 tonnes) 64 63 67 69 61 263 Average ore grade: gold (g/t) 7.45 7.02 6.84 5.95 5.03 6.80 Total gold produced ('000 ounces) 14 12 13 11 8 50 Total Rio Tinto Zimbabwe Total gold produced ('000 ounces) 19 17 17 14 11 67 (a) Includes low grade material. Production ceased at Cam Dump in June 2001. Somincor Total production at the Neves Corvo mine (Rio Tinto 49%) in Portugal. (100% basis) Neves Corvo mine Total ore treated ('000 tonnes)(b) 581 551 406 484 453 2,021 Of which, treated to extract tin ('000 tonnes) 57 59 49 25 8 190 Average ore grades: Copper (%) 4.68 4.61 4.95 5.07 4.85 4.81 Tin (%) 1.46 1.65 1.80 1.21 4.52 1.58 Copper production: Copper concentrates produced ('000 tonnes) 94.5 89.7 72.1 88.1 74.6 344.3 Copper concentrate grade: copper (%) 24.1 24.1 23.9 24.2 24.8 24.1 Copper in concentrates produced ('000 tonnes) 22.8 21.6 17.2 21.3 18.5 82.9 Tin production: Tin concentrates produced ('000 tonnes) 0.4 0.8 0.7 0.2 0.4 2.1 Tin concentrate Grade: tin (%) 55.7 55.9 58.7 61.0 62.2 57.4 Tin in concentrates produced ('000 tonnes) 0.2 0.4 0.4 0.1 0.3 1.2 (a) In January 2002, Rio Tinto agreed to sell its interest in the Neves Corvo mine subject to certain conditions. (b) Total ore treated for both copper and tin production. FULL 1Q 2Q 3Q 4Q 1Q YEAR 2001 2001 2001 2001 2002 2001 DIAMONDS Argyle Diamonds Total production from mining operations at Argyle Diamonds (Rio Tinto 99.8%) in Western Australia. (100% basis) Ore processed ('000 tonnes): AK1 ore 2,697 2,423 2,669 2,524 2,501 10,313 Alluvial ore 1,007 1,204 999 980 882 4,190 Total ore processed 3,704 3,627 3,668 3,504 3,383 14,503 Diamonds recovered ('000 carats): AK1 4,918 4,759 7,808 7,739 5,878 25,225 Alluvial 164 263 239 206 277 873 Total recovered 5,082 5,022 8,048 7,945 6,155 26,097 In the first quarter of 2001, ore processed by the AKI and Alluvials plants was in line with previous quarters. Carats recovered from AKI reflected processing of lower grade ore in accordance with pit development schedules. Merlin Rio Tinto share of production from the Merlin mine (Rio Tinto 100% (a)) in the Northern Territory, Australia. Ore processed ('000 tonnes) 95 61 141 135 191 431 Diamonds Recovered ('000 carats) 15 7 13 20 34 55 (a) Rio Tinto acquired the Merlin mine when it purchased Ashton Mining in late 2000. Ore processed reflected the benefits of improved equipment availability and favourable ore type. Carats recovered improved in line with ore processed and higher plant feed grade. IRON ORE FULL 1Q 2Q 3Q 4Q 1Q YEAR 2001 2001 2001 2001 2002 2001 Hamersley Iron Total production and shipments are for all the mines operated by Hamersley Iron (Rio Tinto 100%). These mines are Paraburdoo, Mount Tom Price, Marandoo, Yandicoogina, Brockman (all Rio Tinto 100%) and Channar (Rio Tinto 60%) all in Western Australia. (100% basis) Saleable iron ore produced ('000 tonnes): Paraburdoo, Mount Tom Price, Marandoo, Brockman and Yandicoogina 13,579 14,352 15,748 15,149 14,653 58,828 Channar 2,453 2,716 2,704 3,215 2,528 11,088 Total production 16,032 17,068 18,452 18,364 17,181 69,916 Total shipments ('000 tonnes) 15,312 16,504 16,710 16,831 13,179 65,357 A new first quarter production record was set in 2002, exceeding the previous record by 7.2%. The increase in production was required to meet customer preferences for fines product. First quarter 2002 shipments were 14% below the record set last year, due to softer demand for lump reflecting the current stage in the business cycle. Iron Ore Company of Canada Total production and shipments from the Carol Lake operations (Rio Tinto 56.1%) in Newfoundland & Labrador and Quebec in Canada. (100% basis) Carol Lake operations Saleable production: Concentrates ('000 tonnes) 638 1,019 630 717 589 3,004 Pellets ('000 tonnes) 2,702 3,306 2,986 2,564 2,647 11,558 Shipments: Concentrate ('000 tonnes) 652 1,098 727 938 704 3,415 Pellets ('000 tonnes) 1,987 2,824 2,207 2,704 1,370 9,722 Production was down slightly compared with the first quarter of 2001 due to severe winter weather and availability issues with mining plant and equipment. Continued depressed conditions in the steel industry resulted in low pellet shipments in the first quarter of 2002, but concentrate sales held up due to increased sales to Asia. Rio Tinto Brasil Limitada Total production at the Corumba mine (Rio Tinto 100%) in Corumba, Mato Grosso do Sul, Brazil. Corumba mine Total iron ore production ('000 tonnes) (a) 156 116 206 164 104 642 (a) Production includes by-product fines. The continuing Argentinian crisis resulted in decreased sales to a major customer. Robe River Iron Associates Total production and shipments from the Pannawonica and West Angelas mines (Rio Tinto 53%) in Western Australia. (100% basis) Pannawonica mine Saleable production ('000 tonnes) 6,781 6,970 8,692 8,263 8,206 30,706 Shipments ('000 tonnes) 7,308 7,136 9,087 7,582 8,334 31,113 West Angelas mine Saleable production ('000 tonnes) - - - - 129 - Production from Pannawonica in the first quarter of 2002 was similar to the previous quarter and 21% more than in the corresponding quarter of 2001, due largely to a very dry wet season compared with the same period last year. Shipments from Pannawonica in the first quarter of 2002 increased by 13% compared with the previous quarter, due to the deferral of a number of shipments to January, and 17% compared with the corresponding quarter of 2001. First quarter production at West Angelas is a by-product of plant commissioning. Operational production is scheduled to begin in the second quarter of 2002. There have been no shipments to date. NICKEL Rio Tinto Brasil Limitada Total nickel in matte production at the Fortaleza mine (Rio Tinto 100%) in Brazil Fortaleza mine Production (tonnes) 2,710 2,487 2,989 1,984 2,063 10,170 Production in the first quarter of 2002 was below the 2001 average due to lower grade ores being processed. Rio Tinto Zimbabwe Total refined metal production at the Empress Nickel refinery (Rio Tinto 56%) in Zimbabwe. (100% basis) Empress Nickel refinery Production (tonnes) 1,623 1,651 1,770 1,591 1,683 6,635 SALT Dampier Salt Total production of salt from Dampier, Lake MacLeod and Port Hedland (a)(Rio Tinto 64.9%) in Western Australia. (100% basis) Salt production ('000 tonnes) 1,385 1,571 1,550 2,035 1,699 6,541 (a) Production data from the newly acquired Port Hedland operation (Dampier Salt 100%) are included with effect from 17 August 2001. TALC The Luzenac Group Total talc production from Luzenac Group operations in Australia (Rio Tinto 100%), Europe (Rio Tinto 99.9%), and North America (Rio Tinto 100%). (100% basis) Talc production ('000 tonnes) 323 319 312 316 323 1,268 TITANIUM DIOXIDE FEEDSTOCK Rio Tinto Iron and Titanium Rio Tinto share of titanium dioxide feedstock production in Canada and South Africa. (Rio Tinto share) Titanium dioxide feedstock production ('000 tonnes) 356 371 359 341 328 1,427 URANIUM Energy Resources of Australia Ltd Total production at the Ranger mine (Rio Tinto 68.4%) in the Northern Territory, Australia. (100% basis) Ranger mine Production (tonnes U3O8) 1,320 947 789 1,155 951 4,211 Rossing Uranium Ltd Total uranium production at the Rossing Uranium mine (Rio Tinto 68.58%) in Namibia. (100% basis) Production (tonnes U3O8) 724 449 793 674 743 2,640 ZINC Norzink AS Total refined zinc production at the Norzink smelter (Rio Tinto 0% (a)) in Norway. (100% basis) Production ('000 tonnes) 36 5 - - - 41 (a) Rio Tinto completed the sale of its interest in Norzink on 17 April 2001. Zinkgruvan Mining AB Total production at the Zinkgruvan mine (Rio Tinto 100%) in Sweden. Ore treated ('000 tonnes) 201 203 195 208 197 807 Average ore grades: Zinc (%) 8.2 8.0 8.5 8.7 6.2 8.4 Lead (%) 3.3 3.9 3.5 3.7 2.8 3.6 Silver (g/t) 75 87 83 91 71 84 Production of zinc concentrate ('000 tonnes) 28.0 26.6 27.8 30.2 20.0 112.6 Production of lead concentrate ('000 tonnes) 7.9 9.6 8.6 8.9 7.2 35.0 Production of metal in concentrates: Zinc ('000 tonnes) 15.3 14.8 15.1 16.6 11.1 61.8 Lead ('000 tonnes) 5.7 6.9 5.8 6.1 4.7 24.5 Silver ('000 ounces) 347 396 326 427 324 1,496 Lower metal grades adversely affected production during the first quarter of 2002. Exploration Expenditure Total pre-tax exploration expenditure charged to the profit and loss account for the quarter ending 31 March 2002 was US$24 million compared with US$22 million in the comparable quarter of 2001. Ongoing Programmes Country Commodity Programme Summary Argentina Borates Drilling recommenced on Tincalayu near- mine borate targets. Mozambique Titanium dioxide Drilling in the Gaza and Inhambane feedstock provinces has identified substantial high-grade heavy mineral deposits. Initial data suggests resources in excess of 70 million tonnes of ilmenite. Delineation drilling is now under way. Turkey Gold Exploration drilling at the Copler porphyry prospect has identified a significant gold resource. Peru Copper Exploration drilling at the Marcona project, close to the coast, has obtained intercepts of high-grade copper oxide and sulphide mineralisation. USA Copper Drilling at the Resolution deep porphyry copper project in Arizona continued to obtain long intercepts of high-grade mineralisation. Exploration will continue in the second quarter with three drill rigs. Botswana Diamonds Airborne geophysical surveying commenced over diamond tenements in the south of Botswana. Canada Diamonds Exploration recommenced at the Anuri diamond project in the Nunavut region. India Diamonds Exploration recommenced in Andhra Pradesh. Guinea Iron Ore Drilling continued at the Simandou lump haematite prospect. Australia Nickel Airborne geophysical surveying was completed at the Giles nickel project in central Australia. This information is provided by RNS The company news service from the London Stock Exchange ND MSCGLGDSSDDGGDX

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