Part 1 - 4th Qtr Prod Figures
Rio Tinto PLC
24 January 2001
PART 1
Rio Tinto Quarterly Production Report
For the Quarter ending 31 December 2000
*Iron ore production for the full year was 40% higher than in 1999.
Half of the increase arose from record production at Hamersley for the
year with the other half arising from the acquisition of North Limited
which also had record production at its Robe River operations during 2000.
Both Hamersley and Robe River had record shipments during 2000.
*Aluminium production for the full year was 24% higher than in 1999
helped by the purchase of the Comalco minorities during the year and
continued improvements at the smelters.
*Mined copper production for the full year was 4% higher than in 1999.
However, it was 18% higher in the fourth quarter of 2000 compared with the
third quarter due to higher copper grades at Bingham Canyon, US and
Grasberg, Indonesia.
*Mined gold production for the full year was down 9% on 1999.
However, it was 26% higher in the fourth quarter of 2000 compared with the
third quarter due mainly to significantly higher gold grades at Grasberg.
*Coal production for the full year was down 5% on 1999 due mainly to a
decision to reduce US production in the first half of the year following
lower spot prices experienced in late 1999 and early 2000.
*Borates production for the full year was up 5% on 1999, but down 7%
in the fourth quarter compared with the previous quarter when production
had been high due to timing of maintenance work.
*Titanium dioxide feedstock production for the full year was down 4%
on 1999 but 8% higher in the fourth quarter compared with the third
quarter following the return to full production at QIT, Canada.
*The preliminary financial results for 2000 are scheduled to be
released on 5 February 2001.
For further information contact:
Media Relations Investor Relations
Lisa Cullimore Peter Jarvis
+ 44 20 7753 2305 + 44 20 7753 2401
Jonathan Murrin
+ 44 20 7753 2326
Melbourne
Ian Head Dave Skinner
+ 61 3 92833620 + 61 3 92833628
Daphne Morros
+ 61 3 92833639
Website: www.riotinto.com
RIO TINTO PRODUCTION SUMMARY
RIO TINTO share
of production
% Change
Quarter Full Year Q400 Q400 2000
1999 2000 2000 1999 2000 vs vs vs
Q4 Q3 Q4 Q300 Q499 1999
Principal Commodities
Copper - mined
('000 t) 211.8 223.0 264.0 859.8 895.6 18% 25% 4%
Copper - refined
('000 t) 104.3 99.1 106.3 388.2 392.0 7% 2% 1%
Gold - mined
('000
ozs) 785 664 836 2,987 2,730 26% 6% -9%
Gold - refined
('000
ozs) 96 102 121 346 413 18% 26% 19%
Iron ore
('000 t) 13,579 20,343 23,159 51,830 72,453 14% 71% 40%
Coal
('000 t) 35,904 34,303 35,390 139,177 131,706 3% -1% -5%
Aluminium
('000 t) 143.6 193.5 194.9 557.8 692.3 1% 36% 24%
Borates
('000 t) 132 161 149 561 590 -7% 13% 5%
Titanium dioxide
feedstock
('000 t) 350 341 368 1,428 1,368 8% 5% -4%
Other Metals & Minerals
Bauxite
('000 t) 2,298 3,101 3,111 8,506 11,005 0% 35% 29%
Alumina
('000 t) 304 430 436 1,185 1,530 1% 43% 29%
Diamonds
('000 cts) 4,430 4,034 4,694 17,730 17,205 16% 6% -3%
Lead - mined
('000 t) 4.7 7.6 10.0 20.9 24.7 33% 113% 18%
Molybdenum
('000 t) 1.6 2.5 2.3 6.3 10.1 -8% 44% 60%
Nickel in matte
(tonnes) 2,928 1,333 2,674 9,445 8,738 101% -9% -7%
Nickel - refined
(tonnes) 968 1,047 927 3,938 3,887 -12% -4% -1%
Salt
('000 t) 920 742 711 3,409 2,987 -4% -23% -12%
Silver - mined
('000 ozs) 4,093 3,541 3,993 15,973 14,427 13% -2% -10%
Silver - refined
('000 ozs) 775 912 821 4,291 3,218 -10% 6% -25%
Talc
('000 t) 313 323 302 1,268 1,260 -7% -4% -1%
Tin
(tonnes) 150 187 39 1,057 611 -79% -74% -42%
Uranium
(tonnes) 504 954 1,418 2,217 3,446 49% 181% 55%
Zinc - mined
('000 t) 17.1 24.2 28.8 74.5 74.2 19% 69% 0%
Zinc - refined
('000 t) 21.2 17.6 17.3 84.9 69.2 -1% -18% -19%
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.
PRINCIPAL COMMODITIES
Rio Tinto
Share of Production
Full Full
4Q 1Q 2Q 3Q 4Q Year Year
Interest 1999 2000 2000 2000 2000 1999 2000
COPPER
Mine production
('000 tonnes)
Kennecott
Utah Copper
100% 63.7 69.7 74.1 70.5 81.4 279.3 295.7
Grasberg -
FCX (a)
14% 20.5 18.5 17.5 23.3 27.7 84.3 87.0
Grasberg -
Joint Venture (a)
40% 27.4 24.5 23.1 24.8 44.3 95.2 116.8
Escondida
30% 71.4 67.0 63.7 70.9 71.9 299.7 273.5
Neves Corvo
49% 11.8 11.9 11.7 8.1 5.7 49.3 37.4
Palabora (b)
49% 17.0 13.0 13.9 15.1 12.7 52.0 54.7
Alumbrera (c)
25% - - - 5.0 10.3 - 15.3
Northparkes (c)
80% - - - 5.2 10.0 - 15.2
Rio Tinto total
mine production 211.8 204.5 204.1 223.0 264.0 859.8 895.6
Refined production ('000 tonnes)
Kennecott
Utah Copper
100% 70.3 69.9 61.1 65.8 71.9 265.4 268.7
Atlantic Copper (a)
17% 9.5 9.7 9.9 10.6 9.8 36.8 40.1
Escondida
30% 10.5 10.5 10.5 10.4 10.7 39.5 42.1
Palabora
49% 13.9 8.3 6.7 12.2 14.0 46.5 41.1
Rio Tinto total
refined production 104.3 98.3 88.2 99.1 106.3 388.2 392.0
At the end of the quarter, the Group had provisionally priced sales of copper
in concentrates and intermediate product as follows:
Million lbs of payable copper:
Kennecott
100% - - 11 11 37 - 37
Grasberg (a)
14% 56 58 45 54 65 56 65
Escondida
30% 104 115 100 99 110 104 110
Neves Corvo
49% 9 11 9 9 8 9 8
Alumbrera (c)
25% - - - - 13 - 13
Northparkes (c)
80% - - - 6 15 - 15
Rio Tinto total 169 184 165 179 248 169 248
Priced at US
c/lb average 84 78 81 89 83 84 83
GOLD
Mine production ('000 ounces)
Kennecott
Utah Copper
100% 88 111 143 154 121 367 529
Barneys Canyon
100% 43 33 35 37 48 112 153
Grasberg -
FCX (a)
14% 72 59 48 54 100 308 261
Grasberg -
Joint Venture (a)
40% 196 113 87 88 190 633 478
Escondida
30% 10 10 8 11 9 45 39
Alumbrera (c)
25% - - - 19 33 - 52
Rawhide
51% 14 14 14 14 12 58 53
Ridgeway
100% 12 - - - - 81 -
Cortez/Pipeline
40% 127 125 86 76 118 532 404
Greens Creek
70% 12 15 15 13 15 56 58
Peak
100% 38 32 35 37 26 140 130
Northparkes (c)
80% - - - 2 4 - 6
Morro do Ouro
51% 28 30 30 28 29 96 117
Kelian
90% 102 68 55 93 88 396 304
Lihir (d)
16% 28 20 23 25 31 107 99
Rio Tinto Zimbabwe
56% 10 9 10 11 10 40 39
Others:
(e) 6 2 1 2 2 16 7
Rio Tinto total
mine production 785 640 590 664 836 2,987 2,730
Refined production
('000 ounces)
Kennecott
Utah Copper
100% 96 80 110 102 121 346 413
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.
IRON ORE
Production ('000 tonnes)
Hamersley
100% 11,780 12,618 12,978 14,642 14,857 44,997 55,095
Channar
60% 1,705 1,556 1,479 1,639 1,687 6,066 6,361
Robe River (c)
53% - - - 2,560 4,216 - 6,776
Iron Ore Company
Of Canada (c)
56% - - - 1,221 2,222 - 3,442
Corumba
100% 94 147 173 281 178 767 778
Rio Tinto
total mine production 13,579 14,321 14,630 20,343 23,159 51,830 72,453
PRINCIPAL COMMODITIES (continued)
Rio Tinto
Share of Production
Full Full
Coal 4Q 1Q 2Q 3Q 4Q Year Year
Interest Type 1999 2000 2000 2000 2000 1999 2000
COAL
US coal operations
('000 tonnes)
Kennecott Energy:
Antelope
100% S 5,258 5,076 5,035 5,486 5,240 20,579 20,837
Colowyo (f)
100% S 1,417 1,168 1,225 1,268 1,030 5,053 4,691
Cordero Rojo
100% S 11,129 8,899 7,204 9,018 9,917 41,436 35,038
Decker 50% S 1,574 1,056 1,148 1,220 1,105 4,977 4,529
Jacobs Ranch
100% S 7,016 5,726 5,965 7,352 6,635 26,371 25,678
Spring Creek
100% S 2,495 2,650 2,668 2,397 2,538 9,975 10,253
Total US coal 28,889 24,575 23,245 26,741 26,465 108,391 101,026
Australian coal operations ('000 tonnes)
Pacific Coal:
Blair Athol (g)
71% S 1,817 1,733 1,848 1,877 2,406 7,915 7,864
Kestrel Coal (h)
80% S 171 176 246 256 226 424 904
80% M 284 348 472 532 381 883 1,733
Tarong Coal
100% S 1,176 1,256 1,049 1,268 1,470 5,116 5,043
Coal & Allied Industries:
Hunter Valley
Operations (i)
71% S 829 869 1,101 1,019 1,095 4,284 4,084
71% M 443 546 637 424 394 2,118 2,001
Mount Thorley
57% S 253 246 239 368 371 1,252 1,224
57% M 294 348 273 306 333 1,385 1,259
Total Australian coal 5,267 5,522 5,865 6,049 6,676 23,377 24,113
Indonesian coal operations ('000 tonnes)
Kaltim Prima
Coal (j)
50% S 1,631 1,146 1,660 1,514 2,249 7,007 6,568
South American coal operations ('000 tonnes)
Carbones
del Cerrejon (k)
0% S 118 - - - - 402 -
Rio Tinto total
coal production 35,904 31,243 30,769 34,303 35,390 139,177 131,706
BAUXITE/ALUMINA/ALUMINIUM
Bauxite ('000 tonnes)
Weipa (l)
100% 2,170 2,011 2,513 2,990 2,992 8,188 10,507
Boke (l)
4% 128 125 144 111 119 317 499
Rio Tinto total
bauxite production 2,298 2,137 2,657 3,101 3,111 8,506 11,005
Alumina ('000 tonnes)
Queensland
Alumina (l)
30% 202 198 246 284 290 792 1,017
Eurallumina (l)
56% 102 104 117 146 146 393 512
Rio Tinto total
Alumina production 304 301 363 430 436 1,185 1,530
Aluminium ('000 tonnes)
Comalco (l)
100% 125.9 124.7 143.4 175.5 175.4 487.9 619.0
Anglesey
51% 17.7 17.8 18.0 18.0 19.5 69.9 73.3
Rio Tinto total
aluminium production 143.6 142.5 161.4 193.5 194.9 557.8 692.3
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 selable quantities of ore plus pellets.
Key to coal type: S = Steaming/thermal coal, M = Metallurgical/coking coal
See footnotes on page 6.
BORATES
Borates ('000 tonnes B2O3 content)
Rio Tinto total
borate production
100% 132 145 135 161 149 561 590
TITANIUM DIOXIDE FEEDSTOCK
Production ('000 tonnes)
Rio Tinto Iron
& Titanium
100% 350 349 310 341 368 1,428 1,368
OTHER METALS & MINERALS
Rio Tinto
Share of Production
Full Full
4Q 1Q 2Q 3Q 4Q Year Year
Interest 1999 2000 2000 2000 2000 1999
2000
DIAMONDS
Production ('000 carats)
Argyle (m)
99.8% 4,430 3,983 4,494 4,034 4,657 17,730 17,168
Other (m) - - - - - 37 - 37
Rio Tinto
Total Diamond
production 4,430 3,983 4,494 4,034 4,694 17,730 17,205
LEAD
Mine production ('000 tonnes)
Greens Creek
70% 3.1 3.5 3.6 3.7 3.4 14.5 14.2
Zinkgruvan (c)
100% - - - 3.9 6.6 - 10.5
Others (e) - 1.6 - - - - 6.4 -
Rio Tinto
Total mine
Production 4.7 3.5 3.6 7.6 10.0 20.9 24.7
MOLYBDENUM
Mine production ('000 tonnes)
Kennecott Utah
Copper
100% 1.6 2.3 3.0 2.5 2.3 6.3 10.1
NICKEL
Nickel in matte (tonnes)
Fortaleza
100% 2,928 2,561 2,170 1,333 2,674 9,445 8,738
Toll refined metal production (tonnes)
Rio Tinto
Zimbabwe - Empress
56% 968 973 939 1,047 927 3,938 3,887
SALT
Production ('000 tonnes)
Dampier
65% 920 665 869 742 711 3,409 2,987
SILVER
Mine production ('000 ounces)
Kennecott
Utah Copper
100% 886 916 952 1,066 1,005 3,859 3,939
Grasberg - FCX (a)
14% 147 128 122 159 205 563 615
Grasberg -
Joint Venture (a)
40% 133 75 48 47 208 438 378
Escondida
30% 215 231 265 258 231 1,057 985
Greens Creek
70% 1,902 1,758 1,779 1,390 1,567 7,213 6,494
Zinkgruvan (c)
100% - - - 271 431 - 702
Others: (e)
- 810 335 283 350 347 2,843 1,315
Rio Tinto total
mine production 4,093 3,443 3,450 3,541 3,993 15,973 14,427
Refined production ('000 ounces)
Kennecott
Utah Copper
100% 775 776 709 912 821 4,291 3,218
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. The nickel in matte production reflects the
contained tonnage of nickel. See footnotes on page 6.
TALC
Production ('000 tonnes)
Luzenac Group
99.9% 313 321 315 323 302 1,268 1,260
TIN
Mine production (tonnes)
Neves Corvo
49% 150 109 275 187 39 1,057 611
OTHER METALS & MINERALS (continued)
Rio Tinto
Share of Production
Full Full
4Q 1Q 2Q 3Q 4Q Year Year
Interest 1999 2000 2000 2000 2000 1999 2000
URANIUM
Production (tonnes U3O8)
Rossing 69% 493 561 498 563 573 2,175 2,195
Palabora 49% 11 7 9 16 13 42 45
Energy Resources
Of Australia (c)
68% - - - 375 832 - 1,207
Rio Tinto total
uranium production 504 567 507 954 1,418 2,217 3,446
ZINC
Mine production ('000 tonnes)
Greens Creek
70% 8.6 9.9 11.2 11.4 10.1 40.1 42.7
Zinkgruvan (c)
100% - - - 12.8 18.7 - 31.5
Others(e) - 8.5 - - - - 34.4 -
Rio Tinto total
Mine production 17.1 9.9 11.2 24.2 28.8 74.5 74.2
Refined production ('000 tonnes)
Norzink 50% 17.9 17.8 16.5 17.6 17.3 72.0 69.2
Others:(e) - 3.4 - - - - 12.9 -
Rio Tinto total
refined zinc production 21.2 17.8 16.5 17.6 17.3 84.9 69.2
Wood Fibre
Production ('000 tonnes)
North Forest
Products (c) 100% - - - 516 853 - 1,369
(a) 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, Rio Tinto's interest in FCX has changed and, as of 31 December
2000, Rio Tinto had, by virtue of its FCX shareholding, a 14.3% 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.
(b) Rio Tinto increased its holding in Palabora from 46.5% to 48.6% during
November 2000.
(c) Rio Tinto's share of production from the assets owned by North Limited is
shown with effect from 11 August 2000, the effective date of the
acquisition.
(d) Effective 14 February 2000, Rio Tinto's interest in Lihir decreased from
17.15% to 16.3% following a placement of shares by Lihir Gold.
(e) Up until 31 December 1999, the above table included Rio Tinto's share of
production from its one third interest in Minera S.A. This was sold at
the end of 1999.
(f) 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.
(g) On 10 January 1999, Rio Tinto increased its beneficial interest in the
Blair Athol mine from 57.2% to 71.2%.
(h) Rio Tinto acquired Kestrel Coal, formerly Gordonstone, in February 1999
and production commenced in June 1999.
(i) With effect from 1 July 1999, Coal & Allied purchased the Rio Tinto coal
interests in New South Wales that were previously held under the Novacoal
name. Coal & Allied also purchased Mitsubishi Development Pty Ltd's 40%
interest in the Howick mine. The restructuring of Coal & Allied's
shareholdings left Rio Tinto with a 70.9% interest. Rio Tinto's share of
production for quarters prior to 1 July 1999 is reported in line with the
pre-merger shareholdings. Production from the Lemington mine, acquired
by Coal & Allied with effect from 20 December 2000, is included in the
Hunter Valley Operations numbers.
(j) 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.
(k) Rio Tinto disposed of its interest in Carbones del Cerrejon in early
January 2000.
(l) Rio Tinto progressively increased its interest in Comalco from 70.4% to
72.4% during the first half of 1999. During the first half of 2000, Rio
Tinto offered to acquire all the shares in Comalco and now holds 100%.
Rio Tinto's share of production has been calculated using the weighted
average of Rio Tinto's interest over the relevant periods.
(m) During the second half of 2000, Rio Tinto acquired Ashton Mining. On 10
November 2000, Rio Tinto acquired control of Ashton and, as of 17 January
2001,now owns 100%. As a result of this purchase, with effect from 10
November, Rio Tinto's effective interest in Argyle Diamonds increased
from 59.7% to 99.8%. Shown separately is Rio Tinto's share of production
from Ashton's diamond interests apart from Argyle.
MORE TO FOLLOW