Q1 Production Report-Part 1
Rio Tinto PLC
24 April 2001
PART 1
Rio Tinto Quarterly Production Report
For the Quarter Ending 31 March 2001
Production of all principal commodities was higher in the first quarter of
2001 compared with the same quarter in 2000 following Rio Tinto's various
acquisitions over the past twelve months.
* Iron ore production in the quarter was 44 per cent higher than the
comparable quarter in 2000 but 11 per cent lower than the high last quarter
of 2000. Hamersley Iron in Australia achieved record first quarter production
and shipments but winter conditions impacted production at IOC in Canada.
* Coal production was 15 per cent higher than the first quarter of 2000 and
one per cent higher than the last quarter of 2000. The 15 per cent increase
includes a 40 per cent increase in coal production in Australia, following
the recent acquisitions, and a seven per cent increase in US coal production.
* Mined copper production was 16 per cent higher than the comparable quarter
in 2000 but down 10 per cent on the last quarter of 2000 primarily due to
lower recoveries at Escondida, Chile and lower ore grades at Grasberg,
Indonesia.
* Mined gold production was 40 per cent higher than the comparable quarter of
2000 and seven per cent higher than the last quarter of 2000 mainly due to
higher grades at Bingham Canyon, US and at Grasberg.
* Primary aluminium metal production was 32 per cent higher than the first
quarter of 2000 helped by the acquisition of the Comalco minorities but down
slightly on the last quarter of 2000.
* Diamond production was 28 per cent higher than the comparable quarter of
2000 and eight per cent higher than the last quarter of 2000 following the
acquisition of Ashton Mining.
* Borates and titanium dioxide feedstock production were both up marginally
on the first quarter of 2000. Compared with the last quarter of 2000, borate
production was unchanged but titanium dioxide feedstock was down marginally
by three per cent.
For further information, please contact:
LONDON AUSTRALIA
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+ 44 (0) 20 7753 2305 +61 (0) 3 9283 3620
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Jonathan Murrin Daphne Morros
+ 44 (0) 20 7753 2326 +61 (0) 3 9283 3639
Website: www.riotinto.com
RIO TINTO PRODUCTION SUMMARY
RIO TINTO share of production
% Change
Quarter Full Year Q1 01 Q1 01
2000 2000 2001 2000 vs vs
Q1 Q4 Q1 Q4 00 Q1 00
Principal Commodities
Aluminium
('000 t) 142.7 194.7 188.0 692.3 -3% 32%
Borates
('000 t) 145 149 148 590 0% 2%
Coal
('000 t) 31,243 35,390 35,774 131,706 1% 15%
Copper - mined
('000 t) 204.5 264.0 238.1 895.6 -10% 16%
Copper - refined
('000 t) 98.3 106.3 100.5 392.0 -5% -2%
Diamonds
('000 cts) 3,983 4,694 5,086 17,205 8% 28%
Gold - mined
('000
ozs) 640 836 896 2,730 7% 40%
Gold - refined
('000
ozs) 80 121 102 413 -15% 28%
Iron ore
('000 t) 14,321 23,159 20,674 72,453 -11% 44%
Titanium dioxide
feedstock
('000 t) 349 368 356 1,368 -3% 2%
Other Metals & Minerals
Alumina
('000 t) 301 436 394 1,530 -10% 31%
Bauxite
('000 t) 2,137 3,111 3,032 11,005 -3% 42%
Lead - mined
('000 t) 3.5 10.0 9.3 24.7 -7% 165%
Molybdenum
('000 t) 2.3 2.3 2.8 10.1 25% 22%
Nickel in matte
(tonnes) 2,561 2,674 2,710 8,738 1% 6%
Nickel - refined
(tonnes) 973 927 910 3,887 -2% -7%
Salt
('000 t) 665 711 899 2,987 26% 35%
Silver - mined
('000 ozs) 3,443 3,994 4,532 14,428 13% 32%
Silver - refined
('000 ozs) 776 821 657 3,218 -20% -15%
Talc
('000 t) 321 302 322 1,260 7% 0%
Tin
(tonnes) 109 39 115 611 192% 5%
Uranium
(tonnes) 567 1,418 1,405 3,446 -1% 148%
Zinc - mined
('000 t) 9.9 28.8 25.3 74.2 -12% 156%
Zinc - refined
('000 t) 17.8 17.3 18.2 69.2 5% 2%
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
1Q 2Q 3Q 4Q 1Q Year
Interest 2000 2000 2000 2000 2001 2000
ALUMINA
Production
('000 tonnes)
Eurallumina (a)
56% 103 117 146 146 137 512
Queensland
Alumina (a)
30% 198 246 284 290 257 1,017
Rio Tinto total
Alumina production 301 362 430 436 394 1,530
ALUMINIUM
Refined production
('000 tonnes)
Anglesey
51% 17.8 18.0 18.0 19.5 18.0 73.3
Bell Bay (a)
100% 26.9 32.4 40.6 40.9 39.3 140.8
Boyne Island (a)
54% 50.5 57.0 68.9 68.9 66.2 245.4
Tiwai Point (a)
79% 47.4 54.2 65.8 65.4 64.4 232.8
Rio Tinto total
Aluminium production 142.7 161.6 193.3 194.7 188.0 692.3
BAUXITE
Production
('000 tonnes)
Boke (a) 4% 125 144 111 119 119 499
Weipa (a)100% 2,011 2,513 2,990 2,992 2,913 10,507
Rio Tinto total
Bauxite production 2,137 2,657 3,101 3,111 3,032 11,005
BORATES
Borates
('000 tonnes B2O3 content)
Rio Tinto total
borate production
100% 145 135 161 149 148 590
Coal
COAL Type
Australian coal operations
('000 tonnes)
Coal & Allied Industries(b):
Bengalla (c)
29% S - - - - 269 -
Hunter Valley
Operations (d)
73% S 869 1,101 1,019 1,095 1,067 4,084
73% M 546 637 424 394 888 2,001
Mount Thorley
58% S 246 239 368 371 283 1,224
58% M 348 273 306 333 226 1,259
Moura (c)
40% S - - - - 145 -
40% M - - - - 261 -
Narama (c)
36% S - - - - 142 -
Ravensworth
East (c)
73% S - - - - 126 -
Warkworth (c)
32% S - - - - 305 -
32% M - - - - 54 -
Pacific Coal:
Blair Athol Coal
71% S 1,733 1,848 1,877 2,406 2,160 7,864
Kestrel Coal
80% S 176 246 256 226 179 904
80% M 348 472 532 381 327 1,733
Tarong Coal
100% S 1,256 1,049 1,268 1,470 1,316 5,043
Total Australian coal 5,522 5,865 6,049 6,676 7,747 24,113
Indonesian coal operations
('000 tonnes)
Kaltim Prima
Coal (e) 50% S 1,146 1,660 1,514 2,249 1,619 6,568
US coal operations
('000 tonnes)
Kennecott Energy:
Antelope
100% S 5,076 5,035 5,486 5,240 5,426 20,837
Colowyo (f)
100% S 1,168 1,225 1,268 1,030 1,276 4,691
Cordero Rojo
100% S 8,899 7,204 9,018 9,917 9,702 35,038
Decker 50% S 1,056 1,148 1,220 1,105 1,155 4,529
Jacobs Ranch
100% S 5,726 5,965 7,352 6,635 7,003 25,678
Spring Creek
100% S 2,650 2,668 2,397 2,538 1,845 10,253
Total US coal 24,575 23,245 26,741 26,465 26,407 101,026
Rio Tinto total
coal production 31,243 30,769 34,303 35,390 35,774 131,706
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.
Key to coal type: S = Steaming/thermal coal, M = Metallurgical/coking coal.
See footnotes on page 6.
COPPER
Mine production
('000 tonnes)
Alumbrera (g)
25% - - 5.0 10.3 11.2 15.3
Bingham Canyon
100% 69.7 74.1 70.5 81.4 80.0 295.7
Escondida
30% 67.0 63.7 70.9 71.9 64.1 273.5
Grasberg -
FCX (h)
14% 18.5 17.5 23.3 27.7 25.3 87.0
Grasberg -
Joint Venture (h)
40% 24.5 23.1 24.8 44.3 27.1 116.8
Neves Corvo
49% 11.9 11.7 8.1 5.7 11.2 37.4
Northparkes (g)
80% - - 5.2 10.0 10.9 15.2
Palabora (i)
49% 13.0 13.9 15.1 12.7 8.2 54.7
Rio Tinto total
mine production 204.5 204.1 223.0 264.0 238.1 895.6
Refined production ('000 tonnes)
Atlantic Copper (h)
17% 9.7 9.9 10.6 9.8 10.1 40.1
Escondida
30% 10.5 10.5 10.4 10.7 10.9 42.1
Kennecott Utah Copper
100% 69.9 61.1 65.8 71.9 67.0 268.7
Palabora
49% 8.3 6.7 12.2 14.0 12.4 41.1
Rio Tinto total
refined production 98.3 88.2 99.1 106.3 100.5 392.0
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 (g)
25% - - - 13 20 13
Escondida
30% 115 100 99 110 126 110
Grasberg (h)
14% 58 45 54 65 50 65
Kennecott
100% - 11 11 37 20 37
Neves Corvo
49% 11 9 9 8 13 8
Northparkes (g)
80% - - 6 15 13 15
Rio Tinto total 184 165 179 248 241 248
Priced at US
c/lb average 78 81 89 83 77 83
DIAMONDS
Production ('000 carats)
Argyle (j)
99.8% 3,983 4,494 4,034 4,657 5,072 17,168
Other (j) - - - - 37 15 37
Rio Tinto
total diamond
production 3,983 4,494 4,034 4,694 5,086 17,205
GOLD
Mine production ('000 ounces)
Alumbrera (g)
25% - - 19 33 34 52
Barneys Canyon
100% 33 35 37 48 37 153
Bingham Canyon
100% 111 143 154 121 151 529
Cortez/Pipeline
40% 125 86 76 118 118 404
Escondida
30% 10 8 11 9 7 39
Grasberg -
FCX (h)
14% 59 48 54 100 108 261
Grasberg -
Joint Venture (h)
40% 113 87 88 190 222 478
Greens Creek
70% 15 15 13 15 16 58
Kelian
90% 68 55 93 88 94 304
Lihir (k)
16% 20 23 25 31 30 99
Morro do Ouro
51% 30 30 28 29 24 117
Northparkes (g)
80% - - 2 4 7 6
Peak
100% 32 35 37 26 20 130
Rawhide
51% 14 14 14 12 13 53
Rio Tinto Zimbabwe
56% 9 10 11 10 11 39
Others: 2 1 2 2 3 7
Rio Tinto total
mine production 640 590 664 836 896 2,730
Refined production
('000 ounces)
Kennecott
Utah Copper
100% 80 110 102 121 102 413
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)
Channar
60% 1,556 1,479 1,639 1,687 1,472 6,361
Corumba
100% 147 173 281 178 156 778
Hamersley
100% 12,618 12,978 14,642 14,857 13,579 55,095
Iron Ore Company
Of Canada (g)
56% - - 1,221 2,222 1,874 3,442
Robe River (g)
53% - - 2,560 4,216 3,594 6,776
Rio Tinto
total mine production 14,321 14,630 20,343 23,159 20,674 72,453
PRINCIPAL COMMODITIES (continued)
Rio Tinto Share of Production
Full
1Q 2Q 3Q 4Q 1Q Year
Interest 2000 2000 2000 2000 2001 2000
LEAD
Mine production
('000 tonnes)
Greens Creek
70% 3.5 3.6 3.7 3.4 3.6 14.2
Zinkgruvan (g)
100% - - 3.9 6.6 5.7 10.5
Rio Tinto
Total mine
Production 3.5 3.6 7.6 10.0 9.3 24.7
MOLYBDENUM
Mine production ('000 tonnes)
Bingham Canyon
100% 2.3 3.0 2.5 2.3 2.8 10.1
NICKEL
Nickel in matte (tonnes)
Fortaleza
100% 2,561 2,170 1,333 2,674 2,710 8,738
Toll refined metal production (tonnes)
Rio Tinto
Zimbabwe - Empress
56% 973 939 1,047 927 910 3,887
SALT
Production ('000 tonnes)
Dampier
65% 665 869 742 711 899 2,987
SILVER
Mine production ('000 ounces)
Bingham Canyon
100% 916 952 1,066 1,005 1,029 3,939
Escondida
30% 231 265 258 231 255 985
Grasberg - FCX (h)
14% 128 122 159 205 213 615
Grasberg -
Joint Venture (h)
40% 75 48 47 208 76 378
Greens Creek
70% 1,758 1,779 1,390 1,567 2,285 6,494
Zinkgruvan (g)
100% - - 271 431 347 702
Others - 335 283 350 349 326 1,316
Rio Tinto total
mine production 3,443 3,450 3,541 3,994 4,532 14,428
Refined production ('000 ounces)
Kennecott
Utah Copper
100% 776 709 912 821 657 3,218
TALC
Production ('000 tonnes)
Luzenac Group
99.9% 321 315 323 302 322 1,260
TIN
Mine production (tonnes)
Neves Corvo
49% 109 275 187 39 115 611
TITANIUM DIOXIDE FEEDSTOCK
Production
('000 tonnes)
Rio Tinto Iron &
Titanium
100% 349 310 341 368 356 1,368
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.
Rio Tinto Share of Production
Full
1Q 2Q 3Q 4Q 1Q Year
Interest 2000 2000 2000 2000 2001 2000
URANIUM
Production (tonnes U3O8)
Energy Resources
of Australia (g)
68% - - 375 832 903 1,207
Palabora 49% 7 9 16 13 6 45
Rossing 69% 561 498 563 573 497 2,195
Rio Tinto total
uranium production 567 507 954 1,418 1,405 3,446
ZINC
Mine production ('000 tonnes)
Greens Creek
70% 9.9 11.2 11.4 10.1 10.0 42.7
Zinkgruvan (g)
100% - - 12.8 18.7 15.3 31.5
Rio Tinto total
Mine production 9.9 11.2 24.2 28.8 25.3 74.2
Refined production ('000 tonnes)
Norzink (l)
50% 17.8 16.5 17.6 17.3 18.2 69.2
(a) During 2000, Rio Tinto acquired all the outstanding shares in Comalco.
Rio Tinto's share of production has been calculated using the weighted average
of Rio Tinto's interest over the relevant periods.
(b) During March 2001, Rio Tinto increased its stake in Coal & Allied from
70.88% to 72.71%. Rio Tinto's share of production has been calculated using
the weighted average of Rio Tinto's interest over the relevant periods.
(c) Coal & Allied has purchased the Australian subsidiaries of the Peabody
Group. Production data are shown from 30 January 2001,the effective date of
acquisition.
(d) Production from the Lemington mine, acquired by Coal & Allied with effect
from 20 December 2000, is included with Hunter Valley Operations.
(e) 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.
(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) 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.
(h) 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 March 2001, 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.
(i) Rio Tinto increased its holding in Palabora from 46.5% to 48.6% during
November 2000.
(j) On 10 November 2000, Rio Tinto acquired control of Ashton Mining and, as
of 17 January 2001, owned 100%. As a result of this purchase, with effect from
10 November 2000, 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.
(k) 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.
(l) Rio Tinto completed the sale of its interest in Norzink on 17 April 2001.
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