By: Esmarie Swanepoel
16th October 2012
PERTH (Mining Weekly) – Mining giant Rio Tinto has reported another quarterly production record for its iron-ore operations in the Pilbara, as well as a production increase at its copper, coal and bauxite operations.
“We have delivered another strong set of production results in the third quarter, including record quarterly Pilbara iron-ore production,” said CEO Tom Albanese on Tuesday.
The Pilbara iron-ore production increased 5% year-on-year to 63-million tons in the quarter ended September, as its expansion plans to 283-million tons a year by the end of 2013 continued.
Global iron-ore production increased to 67-million tons, which was also 5% higher than the previous corresponding period, while year-to-date global iron-ore production was 187-million tons, up 4% on the same period in 2011.
The mining major kept its full-year production guidance at 250-million tons of iron-ore, despite last week lowering its estimates for Chinese gross domestic product growth to just below 8%.
“Significant stimulus efforts have been announced in China, the US and Europe, but its uncertain exactly when we will see the impact of these on our markets. Given this, and the considerable price fluctuations in recent times, we are somewhat more cautious on the outlook over the next few quarters,” Albanese said on October 9.
Total mined copper production was also 21% more than the third quarter of 2011, owing to higher copper grades at the Escondida operation, in Chile, and the Kennecott Utah copper project, as well as increased ore delivery at Escondida.
The Escondida operation increased production by 68% compared with the third quarter in 2011, and by 40% compared with the first nine months of that year, owing to higher grades, increased ore delivery and an industrial action that had an impact to the third quarter results in 2011.
In 2012, Rio’s share of mined and refined copper was expected to reach 560 000 t and 290 000 t, respectively.
Thermal coal production for the quarter ended September was up 21% year-on-year, as the Claremont operation in Queensland continued its ramp-up and increased plant capacity came on line at the Bengalla mine, in Mozambique.
Hard coking coal production declined by 13% compared with the previous corresponding period, owing to the impact of dragline mechanical issues at the Hail Creek operation, in Australia, and major plant shutdowns at Kestrel, as part of the mine extension project.
Rio said that its hard coking coal production was expected to reach 8.5-million tons in 2012, while semi-soft coking coal and thermal coal production would reach 3.5-million tons and 19.5-million tons respectively.
Meanwhile, bauxite and alumina production for the quarter under review was also 13% and 20% higher than the third quarter of 2011, driven by increased third-party demand for bauxite, expanded refining capacity at the Yarwun operation, and record production at Gove.
Looking ahead, Rio said that its share of bauxite, alumina and aluminium production was expected to reach 30.7-million tons seven-million tons and 2.2-million tons respectively during 2012. These numbers included the 13 assets that the company had previously identified for possible divestment or closure.
Edited by: Mariaan Webb
16th October 2012
PERTH (Mining Weekly) – Mining giant Rio Tinto has reported another quarterly production record for its iron-ore operations in the Pilbara, as well as a production increase at its copper, coal and bauxite operations.
“We have delivered another strong set of production results in the third quarter, including record quarterly Pilbara iron-ore production,” said CEO Tom Albanese on Tuesday.
The Pilbara iron-ore production increased 5% year-on-year to 63-million tons in the quarter ended September, as its expansion plans to 283-million tons a year by the end of 2013 continued.
Global iron-ore production increased to 67-million tons, which was also 5% higher than the previous corresponding period, while year-to-date global iron-ore production was 187-million tons, up 4% on the same period in 2011.
The mining major kept its full-year production guidance at 250-million tons of iron-ore, despite last week lowering its estimates for Chinese gross domestic product growth to just below 8%.
“Significant stimulus efforts have been announced in China, the US and Europe, but its uncertain exactly when we will see the impact of these on our markets. Given this, and the considerable price fluctuations in recent times, we are somewhat more cautious on the outlook over the next few quarters,” Albanese said on October 9.
Total mined copper production was also 21% more than the third quarter of 2011, owing to higher copper grades at the Escondida operation, in Chile, and the Kennecott Utah copper project, as well as increased ore delivery at Escondida.
The Escondida operation increased production by 68% compared with the third quarter in 2011, and by 40% compared with the first nine months of that year, owing to higher grades, increased ore delivery and an industrial action that had an impact to the third quarter results in 2011.
In 2012, Rio’s share of mined and refined copper was expected to reach 560 000 t and 290 000 t, respectively.
Thermal coal production for the quarter ended September was up 21% year-on-year, as the Claremont operation in Queensland continued its ramp-up and increased plant capacity came on line at the Bengalla mine, in Mozambique.
Hard coking coal production declined by 13% compared with the previous corresponding period, owing to the impact of dragline mechanical issues at the Hail Creek operation, in Australia, and major plant shutdowns at Kestrel, as part of the mine extension project.
Rio said that its hard coking coal production was expected to reach 8.5-million tons in 2012, while semi-soft coking coal and thermal coal production would reach 3.5-million tons and 19.5-million tons respectively.
Meanwhile, bauxite and alumina production for the quarter under review was also 13% and 20% higher than the third quarter of 2011, driven by increased third-party demand for bauxite, expanded refining capacity at the Yarwun operation, and record production at Gove.
Looking ahead, Rio said that its share of bauxite, alumina and aluminium production was expected to reach 30.7-million tons seven-million tons and 2.2-million tons respectively during 2012. These numbers included the 13 assets that the company had previously identified for possible divestment or closure.
Edited by: Mariaan Webb
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