TIDMRIO
RNS Number : 7433Y
Rio Tinto PLC
18 January 2022
Rio Tinto releases fourth quarter production results
18 January 2022
Rio Tinto Chief Executive Jakob Stausholm, said: "In 2021 we
continued to experience strong demand for our products while
operating conditions remained challenging, including due to
prolonged COVID-19 disruptions. Despite this, we progressed a
number of our projects, including the Pilbara replacement mines,
underlining the resilience of the business and the commitment and
flexibility of our people, communities and host governments. We are
seeing some initial positive results from the implementation of the
Rio Tinto Safe Production System, which we will significantly ramp
up in 2022, as we continue to work hard to improve our operational
performance to become the best operator.
"In the fourth quarter we set a new direction for the company
and announced a number of partnerships focused on decarbonising the
value chain for our products, including green steel. We also
entered into a binding agreement to acquire the Rincon lithium
project in Argentina, which is strongly aligned with our strategy.
These actions will ensure we continue to deliver attractive returns
to shareholders, invest in sustaining and growing our portfolio,
and progress our ambition to net-zero carbon emissions."
vs Full
Q4 vs Q4 vs Q3 Full Year Year
Production* 2021 2020 2021 2021 2020
---------------------------- --- ----- -------- --------- --------- -------
Pilbara iron ore shipments
(100% basis) Mt 84.1 -5% +1% 321.6 -3%
Pilbara iron ore production
(100% basis) Mt 84.1 -2% +1% 319.7 -4%
Bauxite Mt 13.1 -2% -6% 54.3 -3%
Aluminium kt 757 -7% -2% 3,151 -1%
Mined copper kt 132 0% +6% 494 -7%
Titanium dioxide slag kt 228 -16% +9% 1,014 -9 %
IOC iron ore pellets
and concentrate Mt 2.5 -9% +15% 9.7 -6%
---------------------------- --- ----- -------- --------- --------- -------
*Rio Tinto share unless otherwise stated
2021 operational highlights and other key announcements
-- The safety and well-being of our employees and contractors
remains our priority. Fatigue, labour shortages and other pressures
from COVID-19 have heightened the safety risk in day-to-day
operations and remind us that there is no room for complacency. We
experienced our third consecutive year with no fatalities at our
managed operations. We are working hard with our partners to
achieve the same results at our non-managed assets and marine
operations.
-- Pilbara iron ore production of 319.7 million tonnes (100%
basis) was 4% lower than 2020. This is due to above average
rainfall in the first half of the year, cultural heritage
management and delays in growth and brownfield mine replacement
tie-in projects. Pilbara shipments in 2021 were 321.6 million
tonnes (100% basis), 3% lower than 2020, and included elevated
levels of SP10 product as a result of delays in growth and
brownfield mine replacement tie-in projects.
-- Bauxite production of 54.3 million tonnes was 3% lower than
2020 due to severe wet weather in the first quarter impacting
system stability throughout the year, equipment reliability issues
and overruns on planned shutdowns at our Pacific operations.
-- Aluminium production of 3.2 million tonnes was 1% lower than
2020 due to reduced capacity at our Kitimat smelter in British
Columbia following the strike which commenced in July 2021. The
labour union and employees have reached an agreement with
controlled restart in 2022.
-- Mined copper production of 494 thousand tonnes was 7% lower
than 2020 due to lower recoveries and throughput at Escondida as a
result of the prolonged impact of COVID-19, partly offset by higher
recoveries and grades at Oyu Tolgoi in Mongolia and Kennecott in
the US.
-- Titanium dioxide slag production of 1,014 thousand tonnes was
9% lower than 2020 as a result of community disruptions and
subsequent curtailment of operations at Richards Bay Minerals (RBM)
coupled with unplanned maintenance and equipment reliability issues
at Rio Tinto Fer et Titane (RTFT) in Canada. On 24 August, RBM
resumed operations following stabilisation of the security
situation, supported by the national and provincial government, as
well as substantive engagement with host communities and their
traditional authorities.
-- Production of pellets and concentrate at Iron Ore Company of
Canada (IOC) was 6% lower than 2020 due to prolonged labour and
equipment availability issues impacting product feed and various
other operational challenges throughout the year.
-- At the Jadar lithium-borate project in Serbia, as a result of
delays in the approval of the Exploitation Field Licence (EFL),
which is a prerequisite to publish the Environmental Impact
Assessment (EIA) and commence the consultation process, we are
revising development timelines. Based on current estimates and
subject to receiving all relevant approvals, permits and licences,
first saleable production is expected to be no earlier than 2027
(previously 2026).
-- In the fourth quarter, we entered into several partnerships
to accelerate decarbonising our own business and the value chains
we operate in. In November, we announced the ELYSIS joint venture
successfully produced aluminium without any direct greenhouse gas
emissions from commercial-size cells.
-- On 20 October, we outlined the actions being taken to
strengthen the business and improve performance. We unveiled a
longer-term strategy to ensure we thrive in a decarbonising world
and continue to deliver attractive shareholder returns, in line
with our policy.
-- This year, we initiated the Rio Tinto Safe Production System
(RTSPS) at five pilot sites, focusing on sustainably unlocking
capacity across the system. We are already seeing returns in the
first year of rollout including a significant improvement at the
Kennecott concentrator since the July deployment compared to the
previous 12 months performance. A significantly larger programme is
planned for 2022, subject to COVID-19 constraints, with the RTSPS
rollout of up to 30 deployments at 15 sites as well as up to 80
rapid improvement projects which aim at improving targeted
bottlenecks.
-- On 28 October, we issued $1.25 billion 30-year fixed rate
SEC-registered bonds priced at 2.75%. The proceeds of the new
issuance were used to fund the early redemption and extinguishment
of the company's $1.20 billion 3.75% bonds due to mature in June
2025.
-- On 19 December, we announced the Board of Directors had
selected Dominic Barton to succeed Simon Thompson as the new Chair.
Dominic will join the Board with effect from 4 April 2022 and be
appointed to the role of Chair at the conclusion of the Rio Tinto
Limited annual general meeting on 5 May 2022.
-- On 21 December, we announced we had entered into a binding
agreement to acquire the Rincon lithium project in Argentina from
Rincon Mining for $825 million. Rincon is one of the largest
undeveloped lithium brine projects in the world, located in the
heart of the lithium triangle in Salta Province.
-- Our guidance assumes development of the pandemic does not
lead to government-imposed restrictions and widespread protracted
cases related to new highly contagious variants with high severity,
which could result in a significant number of our production
critical workforce and contractor base being unable to work due to
illness and/or isolation requirements. This risk extends to
prolonged interruption of service from a key partner or supplier
which could lead to severely constrained operational activity of a
key asset or project. This risk is exacerbated globally by tight
labour markets and supply chain delays.
-- 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.
2022 production guidance
Rio Tinto share, unless otherwise stated 2021 Actuals 2022
------------------------------------------------- ------------ --------
320 to
Pilbara iron ore(1) (shipments, 100% basis) (Mt) 322 335
Bauxite (Mt) 54 54 to 57
Alumina (Mt) 8.0 to
7.9 8.4
Aluminium (Mt) 3.1 to
3.2 3.2
500 to
Mined copper (kt) 494 575
230 to
Refined copper (kt) 202 290
Diamonds(2) (M carats) 5.0 to
3.8 6.0
Titanium dioxide slag (Mt) 1.1 to
1.0 1.4
IOC(3) iron ore pellets and concentrate (Mt) 10.0 to
9.7 11.0
Boric oxide equivalent (Mt) 0.5 0.5
------------------------------------------------- ------------ --------
(1) Pilbara shipments guidance remains subject to risks around
commissioning and ramp-up of new mines and management of cultural
heritage.
(2) Reflects 100% ownership of Diavik (previously 60%) from 1st
November 2021.
(3) Iron Ore Company of Canada.
-- Iron ore shipments and bauxite production guidance remain
subject to weather and market conditions.
-- Our guidance assumes development of the pandemic does not
lead to government-imposed restrictions and widespread protracted
cases related to new highly contagious variants with high severity,
which could result in a significant number of our production
critical workforce and contractor base being unable to work due to
illness and/or isolation requirements. This risk extends to
prolonged interruption of service from a key partner or supplier
which could lead to severely constrained operational activity of a
key asset or project. This risk is exacerbated globally by tight
labour markets and supply chain delays.
-- Pilbara shipments guidance remains subject to commissioning
and ramp-up of new mines and management of cultural heritage,
including any impacts from the recent changes to the Aboriginal
Heritage Act 1972 (WA). We support the strengthening of Aboriginal
heritage protection in Western Australia and continue to engage
with Traditional Owners regarding current and proposed plans for
mining activities, adjusting mine plans where required. Given the
quality of our resource, we retain a range of development options
in the Pilbara, subject to heritage and environmental
approvals.
Investments, growth and development projects
-- We continue to proactively manage COVID-19 and prioritise
work across critical projects, as challenges associated with
interstate and international border access continue, impacting the
availability and movement of people and goods, most notably in
Australia and Mongolia. Mitigation plans are in place however there
are some delays with the delivery of equipment to sites and access
to key personnel.
-- Exploration and evaluation expense in 2021 was $726 million,
$101 million (16%) higher than 2020, with ramp-up of activities in
Australia, Europe and Western Africa.
Pilbara mine projects
-- Commissioning and ramp-up of Pilbara growth and brownfield
mine replacement projects has been impacted by ongoing COVID-19
restrictions, including labour access and supply chain quality
issues. The latter has been exacerbated by an inability to conduct
pre-delivery quality assurance and control at international steel
and equipment manufacturers due to limitations on travel.
-- Mining and operational readiness activities are progressing
at the Gudai-Darri mine and the railway is operational. The first
train was loaded from the mobile crushing and screening facilities
in December. First production from the main plant is now expected
in the second quarter of 2022, subject to the continuing impacts of
COVID-19.
-- The Western Turner Syncline Phase 2 project achieved first
ore in October, in line with previous guidance. At Robe Valley, the
autonomous mining truck fleet has been commissioned. Since
achieving first ore in August, ongoing wet plant construction and
commissioning challenges are impacting production ramp-up.
Oyu Tolgoi underground project(1)
Technical progress
-- The project is technically and operationally ready for
undercut commencement, despite continued COVID-19 constraints in
Mongolia. Site accommodation and staffing levels improved in the
quarter to between 60% and 70% of planned requirements. The impact
on project costs of the additional restrictions related to COVID-19
to the end of December 2021 is estimated to be $175 million. The
project has achieved the conveyor to surface decline breakthrough
and completed construction of Materials Handling System 1 with
commissioning expected to be completed in the coming weeks.
-- Shaft 4 sinking activities recommenced in October, with
advancement now at 148 metres below ground level. Shaft 3 readiness
works continue, with sinking commencement expected by the end of
the first quarter of 2022, despite some disruptions following an
unplanned failure on one of the sinking brake systems. The delay to
the commissioning of shafts 3 and 4 is still expected to be
approximately nine months per prior guidance based on known
COVID-19 impacts to date. Panel 1 and 2 studies will be ongoing
throughout 2022.
Other updates
-- Negotiations with the Government of Mongolia are constructive
and making positive progress. All key stakeholders have stated that
they remain committed to moving the project forward and reaching a
long-term solution to the items under discussion.
-- In December, the updated Resources and Reserves were
registered in Mongolia in accordance with Mongolian regulations and
approval from Mongolian authorities of the 2022 Annual Mine Plan
was received. The updated Feasibility Study (OTFS20) has been
submitted to the relevant governmental agencies of Mongolia.
-- As a result of COVID-19 impacts and outstanding non-technical
undercut criteria, first sustainable production will be no earlier
than January 2023, subject to the timing of commencement of the
undercut. The full impact on the cost of the integrated project is
subject to further analysis once we have clarity on the timeline
around the completion of the undercut criteria and ongoing COVID-19
restrictions.
-- Other milestones that need to be met in order to ensure that
the project can commence caving operations (undercut) include:
approval of the project investment uplift to $6.75 billion,
approval of the funding plan and extension of the current power
supply arrangements until an agreed long term stable and reliable
power solution can be fully implemented.
Other key projects and exploration and evaluation
-- The Zulti South project in South Africa remains on full suspension.
-- At the Kemano hydropower tunnel project in British Columbia,
Canada, the tunnel boring machine is being dismantled and removed
following breakthrough in October. Although COVID-19 continues to
affect the workforce, project completion remains on schedule for
the second half of 2022.
-- At the Resolution Copper project in Arizona, we continue to
work with the US Forest Service to secure approval of the Final
Environmental Impact Statement (EIS). In parallel, mine studies and
engagement with the Native American tribes and local communities
continue to progress.
-- At the Winu project in Western Australia, there has been
progress towards securing consent from the Traditional Owners to
the Project Agreement in advance of submitting the necessary
environmental and regulatory approvals. Drilling, fieldwork and
study activities continue to progress to schedule.
-- At the Simandou iron ore project in Guinea, we continue to
engage with key stakeholders in-country including the Government of
Guinea. We remain committed to an inclusive partnership, seeking
mutual and sustainable benefits by developing our project in line
with international social and environmental standards. A new
drilling programme has commenced, and expressions of interest are
being sourced for construction and early development works expected
to be carried out in 2022.
-- At the Jadar lithium-borate project in Serbia, as a result of
delays in the approval of the Exploitation Field Licence (EFL),
which is a prerequisite to publish the Environmental Impact
Assessment (EIA) and commence the consultation process, we are
revising development timelines. Based on current estimates and
subject to receiving all relevant approvals, permits and licences,
first saleable production is expected to be no earlier than 2027
(previously 2026). The Feasibility Study and the EIA Studies are
progressing. We fully understand the concerns amongst some Serbian
stakeholders about environmental impacts and we will continue to
engage to demonstrate the project has developed mitigation
solutions in the project plan.
-- Energy Resources of Australia (ERA) has previously indicated
to the market that it has identified cost and schedule overruns in
executing the mine closure plan that is expected to be significant
relative to the findings of the Ranger Project Area closure
feasibility study.
(1) Project baseline reporting has been updated following
endorsement of the definitive estimate by Rio Tinto Board and
Turquoise Hill Resources (pending Oyu Tolgoi board approval).
The definitive estimate assumed COVID-19 restrictions in 2021
that were no more stringent than those experienced in September
2020 and noted that should COVID-19 constraints continue beyond
2021 or should the COVID-19 situation escalate further in 2021
leading to tougher restrictions, additional costs and schedule
impacts would arise. Since the definitive estimate, at the end of
2020, Mongolia implemented additional restrictions in response to
community transmission cases, and in March 2021 the first cases of
COVID-19 were identified at Oyu Tolgoi resulting in temporary site
shutdown, quarantine measures and further travel and movement
restrictions. The impact of these additional restrictions, which
have continued throughout this period and are beyond those
experienced in September 2020, is ongoing. To date, the impact on
projects costs of the additional restrictions experienced to the
end of December 2021 is estimated to be $175 million. Additional
costs and schedule impacts continue to be incurred and the final
impact is still to be determined.
Sustainability highlights
We continue to advance our sustainability agenda. We are now a
member of T he Dow Jones Sustainability(TM) World Index , which
comprises global sustainability leaders as identified by S&P
Global, representing the top 10% of the largest 2,500 companies in
the S&P Global Broad Market Index based on ESG dimensions.
On 9 November, we announced a partnership with RESOLVE, a
Washington-based non profit organisation, to launch Regeneration, a
start-up that will use the re-mining and processing of waste from
legacy mine sites to support rehabilitation activities and restore
natural environments. We will make an equity investment of $2
million and analyse our portfolio to identify potential
opportunities for the first Regeneration project.
On 23 October, we announced a partnership with BHP and Fortescue
Metals Group to fund innovative, industry-first learning programmes
as part of a continued commitment towards mining sector workplaces
that are free from sexual harassment, bullying and racism. The
partnership will fund and contribute to the design, development and
implementation of new social awareness education packages for
deployment through a range of education providers such as Technical
and further education (TAFE), Registered Training Organisations,
universities and high schools.
On 19 December, we called for Expressions of Interest from
Western Australian manufacturers to build 100 rail cars for our
Pilbara operations. We will initially purchase 50 rail cars from
the successful supplier, followed by an ongoing commitment of 10
rail cars a year for the next five years. This will help grow the
local rail car manufacturing industry and support local jobs.
Communities & Social Performance (CSP)
At the end of 2021 the relationship between Puutu Kunti Kurrama
and Pinikura (PKKP) leadership and Rio Tinto Iron Ore is
constructive and considered. The ongoing rehabilitation works at
Juukan Gorge are on schedule and have the active involvement of the
appointed Puutu Kunti Kurrama (PKK) committee members. An agreement
on a co-management of country approach and an appropriate remedy
for the destruction of Juukan Gorge is substantially progressed.
Together we are charting new territory, and this takes time, but we
are moving forward on a model which is respectful and looks to
provide certainty of protection for cultural heritage and
mining.
On 17 October, we welcomed the Joint Standing Committee on
Northern Australia's final report into the destruction of the rock
shelters at Juukan Gorge. We continue to work closely with
Traditional Owners to build trusted relationships and better
understand and protect their cultural heritage.
On 17 October, we announced a new three-year partnership with
Telethon aimed at improving the health and well-being of children
in Western Australia. The partnership, which follows $4 million
contribution in 2020, will provide $4 million contribution each
year to 2023, to support research into mental health and juvenile
diabetes.
At Resolution Copper in Arizona, we partnered with Stantec and
White Mountain Apache community members to provide 64 hydro panels
on the Fort Apache Reservation, and we are planning installation
programs in other Native American communities. The panels will
provide a new source of clean drinking water through an innovative,
renewable technology that uses solar energy.
Key highlights in Australia from the quarter are outlined below,
with further information available on our website .
Agreement modernisation
Discussions with Pilbara Traditional Owners to modernise
existing agreements continued in the fourth quarter. Heads of
Agreements (HoA), or similar, are being drafted with two
Traditional Owner Groups. The HoA include principles and approaches
to co-management of country over the life of mine cycle and
partnership arrangements to broaden benefits arising from mining.
Engagement protocols to guide the modernisation discussions have
been executed or endorsed with five Traditional Owner Groups.
Cultural heritage management
Pilbara Iron Ore continues to apply the Integrated Heritage
Management Process (IHMP). Known sites of cultural significance
continue to be re-assessed and mine plans adjusted or measures
taken to avoid disturbance. This includes increased buffer zones
and blast management plans to reduce vibration risk. To date, we
have reviewed 2,205 heritage sites across different planning
horizons. Lessons learned and best practice are shared and
replicated, as appropriate, across Rio Tinto.
Australian Advisory Group (AAG)
Work to develop the AAG is progressing with the terms of
reference finalised. The AAG is on track to commence in the first
quarter of 2022 and will be comprised of a minimum of 60%
Aboriginal or Torres Strait Islander membership, with an Indigenous
Australian Chairperson.
Aboriginal Heritage Act 1972 (WA)
We support the strengthening of Aboriginal heritage protection
in Western Australia. We continue to collaborate with Traditional
Owners, incorporating heritage and social surroundings information
into mine designs, new developments and our IHMP systems.
Climate change and our value chain
We progressed initiatives in the fourth quarter in line with our
pathway to decarbonise our business and actively develop
technologies that will enable our customers and our customers'
customers to decarbonise.
-- On 26 October, we announ ced a partnership with Carbfix to
implement a technology for capturing carbon and permanently storing
it underground at our ISAL aluminium smelter in Iceland. Under a
Memorandum of Understanding (MoU), Carbfix will use Rio Tinto's
land surrounding the ISAL smelter for onshore CO(2) injection in
the world's first carbon mineral storage hub, the Coda Terminal.
Liquified CO(2) will be imported by ship from industrial sites
across North Europe for storage. The partnership follows an
investment earlier in October in Carbon Capture Inc., a climate
tech start-up that focuses on developing modular Direct Air Capture
units powered by renewable energy and with the potential to remove
significant amounts of CO(2) from the atmosphere for permanent
underground storage.
-- On 27 October, we announced a partnership with the U.S.
Geological Survey (USGS), the science agency for the US Department
of the Interior, to provide a clearer picture of the potential for
critical mineral resources beneath the Continental Divide near
Montana's Boulder Batholith. The USGS will fly airborne geophysical
surveys in areas of interest with support from Rio Tinto during
2022 as part of its Earth Mapping Resources Initiative.
-- On 28 October, we announced the signing of a MoU with
BlueScope to research and design low-emissions processes for the
steel value chain, including iron ore processing, iron and
steelmaking and related technologies. The companies will work
together to explore low-carbon steelmaking pathways using Pilbara
iron ores, including the use of clean hydrogen to replace coking
coal at BlueScope's Port Kembla Steelworks.
-- On 4 November, we announced ELYSIS successfully produced
aluminium without any direct greenhouse emissions at its Industrial
Research and Development Center in Saguenay, Canada. Work is now
focused on accelerating the scale-up of the ELYSIS technology
towards the demonstration of even larger commercial-size cells in
2023.
-- On 16 November, we announced an investment in Inobat Auto, a
European-based battery technology and manufacturing company. This
investment will support the completion of InoBat's research and
development centre and pilot battery line in Voderady, Slovakia.
The investment follows a MoU signed in May, outlining an intention
to work together to progress the establishment of a
"cradle-to-cradle" electric vehicle battery value chain in
Serbia.
-- On 10 December, we announced the launch of the construction
of the the solar and wind power plant at QIT Madagascar Minerals
(QMM) ilmenite mine operations in Fort Dauphin, in southern
Madagascar. The renewable energy project plays a key role in
implementing QMM's 'sustainable mine' concept and enabling Rio
Tinto operations in Madagascar to reach carbon neutrality by
2023.
-- On 11 January, we announ ced the purchase of four
battery-electric trains for use in the Pilbara, Western Australia.
Production is due to commence in 2023 ahead of initial trials in
the Pilbara in early 2024. The locomotives will be recharged at
purpose-built charging stations at the port or mine. They will also
be capable of generating additional energy while in transit through
a regenerative braking system which takes energy from the train and
uses it to recharge the onboard batteries.
Our markets
Market dynamics were broadly positive throughout 2021 for most
commodities, lifting a number of prices to cyclical highs. Fiscal
and monetary support and successful vaccine campaigns were key
contributors to strong demand growth that ultimately stretched
global supply chains to their limits and created challenging
conditions for many of the world's producers. We are encouraged by
growth prospects in the coming year but remain vigilant in relation
to potential disruption from new COVID-19 variants and geopolitical
tensions.
-- China is transitioning from tightening to easing policies
following a slowdown in the last quarter of 2021, with mild
pro-growth measures in place to support property, infrastructure
and consumption. We expect China to continue to finetune its
policies to balance multiple priorities.
-- In the United States, activity momentum eased toward year end
amid concerns over the latest COVID-19 variant and persistent
supply chain constraints. Peak recovery has likely passed implying
GDP growth will slow, but solid fundamentals remain in place.
Household debt has fallen to the lowest since 2000, supply
shortages are expected to ease and inventory restocking should
support growth.
-- Economic activity in the eurozone weakened significantly in
late 2021, and the current level of restrictions suggest a slower
than expected start to 2022, especially for the service-based
economies.
-- China's crude steel production and iron ore imports were
stable year on year, with steel production exceeding 1 billion
tonnes for a second time, despite numerous steel mill operating
restrictions and a slowing property sector. Steel consumption and
production rates in China decelerated significantly during the
fourth quarter of 2021 however, iron ore seaborne supply improved,
resulting in a 30% decline in iron ore prices in the fourth quarter
versus the prior quarter. Meanwhile, the steel and iron ore demand
recovery in developed and other emerging economies maintained its
momentum and global crude steel production grew by an estimated 6%
year on year - by one of its largest absolute annual increments in
history - to a record total of almost 2 billion tonnes in 2021.
-- Aluminium prices experienced volatility during the quarter
but recovered to just over $2,800/t at the end of 2021, driven by
extensive power-related smelting curtailments in Europe. Physical
markets remained tight amid firm demand and lower inventory levels,
resulting in regional market premia recovering by the end of the
year in both the United States and Europe.
-- Copper prices ended the year at 440c/lb, down 45c/lb from
record levels reached in May 2021. Demand remained sound throughout
2021, whilst supply faced multiple headwinds including COVID-19,
shipping disruptions and other factors. Exchange inventories
declined over the course of 2021 and ended the year at less than
200kt.
-- Global electric vehicle (EV) sales more than doubled in 2021
due to wider availability of EV models, government subsidies and
falling production costs (battery prices). Lithium production was
unable to maintain the same pace as demand and prices ended the
year up 150%.
Average realised prices achieved for our major commodities
Units H1 2021 H2 2021 2021 2020
Pilbara iron
ore FOB, $/wmt 154.9 111.5 132.3 91.0
------------- ----------- ------- ------- -----
Pilbara iron
ore FOB, $/dmt 168.4 121.2 143.8 98.9
------------- ----------- ------- ------- -----
Aluminium* Metal $/t 2,626 3,254 2,899 1,946
------------- ----------- ------- ------- -----
Copper** US c/lb 415 435 424 283
------------- ----------- ------- ------- -----
IOC pellets $/wmt 218.3 210,8 214.4 127.6
------------- ----------- ------- ------- -----
*LME plus all-in premiums (product and market)
**Average realised price for all units sold. Realised price does
not include the impact of the provisional pricing adjustments,
which positively impacted revenues in 2021 by $246 million (2020
positive impact of $182 million).
IRON ORE
vs Full
Q4 vs Q4 vs Q3 Full Year Year
Rio Tinto share of production
(Million tonnes) 2021 2020 2021 2021 2020
------------------------------ ----- -------- -------- --------- --------
Pilbara Blend and SP10
Lump(1) 20.4 -6% +3% 76.4 -1%
Pilbara Blend and SP10
Fines(1) 32.1 +3% +4% 119.9 -3%
Robe Valley Lump 1.2 -16% -19% 5.1 -8%
Robe Valley Fines 2.0 -22% -11% 8.4 -20%
Yandicoogina Fines (HIY) 14.4 +1% -8% 56.9 -3%
------------------------------ ----- -------- -------- --------- --------
Total Pilbara production 70.1 -1% 0% 266.8 -3%
------------------------------ ----- -------- -------- --------- --------
Total Pilbara production
(100% basis) 84.1 -2 % +1% 319.7 -4%
------------------------------ ----- -------- -------- --------- --------
vs Full
Q4 vs Q4 vs Q3 Full Year Year
Rio Tinto share of shipments
(Million tonnes) 2021 2020 2021 2021 2020
----------------------------- ----- ------------ ------------ --------- ------------
Pilbara Blend Lump 12.8 -21% -1% 51.5 -18%
Pilbara Blend Fines 24.3 -31% -16 % 109.6 -13%
Robe Valley Lump 1.1 -15% +10% 4.0 -14%
Robe Valley Fines 2.2 -27% -13% 9.4 -18%
Yandicoogina Fines (HIY) 14.1 -6% -5% 56.9 -1%
SP10 Lump(1) 4.8 +367% 0% 16.1 +315%
SP10 Fines(1) 10.7 +503% +163% 20.5 +244%
----------------------------- ----- ------------ ------------ --------- ------------
Total Pilbara shipments(2) 70.1 -5% +1% 267.9 -2%
----------------------------- ----- ------------ ------------ --------- ------------
Total Pilbara shipments
(100% basis)(2) 84.1 -5 % +1% 321.6 -3%
----------------------------- ----- ------------ ------------ --------- ------------
Total Pilbara Shipments
(consolidated basis)(2,
3) 72.0 -5% +1% 275.2 -2%
----------------------------- ----- ------------ ------------ --------- ------------
1 SP10 includes other lower grade products.
2 Shipments includes material shipped from the Pilbara to our
portside trading facility in China which may not be sold onwards by
the group in the same period.
3 While Rio Tinto has a 53% net beneficial interest in Robe
River Iron Associates, it recognises 65% of the assets,
liabilities, sales revenues and expenses in its accounts (as 30% is
held through a 60% owned subsidiary and 35% is held through a 100%
owned subsidiary). The consolidated basis sales reported here
include Robe River Iron Associates on a 65% basis to enable
comparison with revenue reported in the financial statements.
Pilbara operations
2021 shipments of 321.6 million tonnes (Rio Tinto share 267.9
million tonnes) were 3% lower than 2020. Shipments included 36.6
million tonnes of SP10 products. There was 8.8 million tonnes of
Pilbara product retained as working capital at China portside (1.7
million tonnes in 2020). SP10 products comprised a higher share of
shipments in the fourth quarter as a result of delays in growth and
brownfield mine replacement tie-in projects. As those mines ramp-up
through the first half of 2022, we will see SP10 gradually decrease
and return to levels around 6% of shipments in the medium term.
Pilbara operations produced 319.7 million tonnes (Rio Tinto
share 266.8 million tonnes) in 2021, 4% lower than 2020. This was
due to above average rainfall in the first half of the year,
cultural heritage management and delays in growth and brownfield
mine replacement tie-in projects. Ongoing COVID-19 restrictions and
a tight labour market have further impacted our ability to access
experienced contractors and particular skill sets.
Production from the new greenfields mine at Gudai-Darri and
brownfield mine replacement project at Robe Valley, was delayed due
to COVID-19 impact on labour availability and an inability to
conduct pre-delivery quality assurance and control at international
steel manufacturers due to limitations on travel. First ore from
Gudai-Darri was railed in December from the modular crushing and
screening plant installed to supplement production and mitigate
commissioning delays. Robe Valley production was significantly
impacted by the Mesa A wet plant commissioning delays.
Approximately 11% of sales in 2021 were priced by 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 on the spot market. Approximately 28% of sales in the
fourth quarter were made on a free on board (FOB) basis, with the
remainder sold including freight.
Achieved realised pricing in 2021 was $132.3 per wet metric
tonne on an FOB basis (equivalent to $143.8 per dry metric tonne,
at 8% moisture assumption). This compares to the monthly average
Platts index for 62% fines converted to an FOB basis of $146.9 per
dry metric tonne. In 2020, average realised pricing was $91.0 per
wet metric tonne ($98.9 dry metric tonne).
China Portside Trading
We continue to increase our iron ore portside sales in China,
with 5.1 million tonnes of sales in the fourth quarter of 2021 (1.8
million tonnes in the fourth quarter of 2020), leading to a total
of 14.0 million tonnes in 2021 (5.5 million tonnes in 2020). We
experienced increased inventory levels at the port due to higher
volumes of SP10 and constrained availability of high grade blending
stocks in the fourth quarter.
Our portside operation handles product from the Pilbara and
Canada as well as third party product, and provides blending and
screening capabilities. Approximately 81% of portside sales in 2021
were either blended or screened in Chinese ports.
ALUMINIUM
vs Full
Q4 vs Q4 vs Q3 Full Year Year
Rio Tinto share of production
('000 tonnes) 2021 2020 2021 2021 2020
------------------------------ ------------------- ------ -------- ------------------ -------
Bauxite 13,095 -2% -6% 54,326 -3%
Bauxite third party
shipments 8,988 -1% -11% 37,596 -4%
Alumina 1,911 -8% -1% 7,894 -2%
Aluminium 757 -7% -2% 3,151 -1%
------------------------------ ------------------- ------ -------- ------------------ -------
Bauxite
Bauxite production of 54.3 million tonnes was 3% lower than 2020
due to severe wet weather in the first quarter impacting system
stability throughout the year, equipment reliability issues and
overruns on planned shutdowns at our Pacific operations.
We shipped 37.6 million tonnes of bauxite to third parties in
2021, 4% lower than the same period of 2020 due to the major
weather events in the first quarter causing shipment delays.
Alumina
Alumina production of 7.9 million tonnes was 2% lower than 2020,
as a result of outages during the year at the Yarwun refinery in
Queensland, Australia and at Vaudreuil refinery in Quebec, Canada.
Production at the Queensland refinery remained stable year on
year.
Aluminium
Aluminium production of 3.2 million tonnes was 1% lower than
2020 due to reduced capacity at our Kitimat smelter in British
Columbia following the strike which commenced in July 2021.
Agreement with the labour union and employees was reached in
October with a controlled restart in 2022. The reduced capacity was
partly offset by a robust performance across the remaining smelting
portfolio.
Average realised aluminium prices including both product and
market premiums for value-added products (VAP) and remelt were up
by 49% to $2,899 per tonne in 2021 (2020: $1,946 per tonne). The
LME price increased by 46% to $2,480 per tonne (2020: $1,704 per
tonne), whilst the mid-west premium duty paid increased by 119% to
$584 per tonne in 2021 (2020: $267 per tonne). Our VAP sales
comprised 50% of primary metal sold in 2021 (2020: 43%). Product
premiums for VAP sales improved by 8% averaging, $230 per tonne of
VAP sold (2020: $213 per tonne).
On 17 November, we announced an investment of $87 million to
increase low-carbon aluminium production in Canada with 16 new
smelting cells at our AP60 smelter, in the Saguenay-Lac-Saint-Jean
region of Quebec. The investment will increase production at the
smelter by around 45%, or 26,500 tonnes of primary aluminium per
year, to a capacity of 86,500 metric tonnes and provide a secure
future for approximately 100 employees who work at the
facility.
COPPER
vs Full
Q4 vs Q4 vs Q3 Full Year Year
Rio Tinto share of
production ('000 tonnes) 2021 2020 2021 2021 2020
--------------------------- ----- --------- --------- --------- ---------
Mined copper
--------------------------- ----- --------- --------- --------- ---------
Kennecott 49.7 +47% +16% 159.4 +14%
Escondida 69.6 -18% +2% 279.5 -17%
Oyu Tolgoi 13.0 -7% -7% 54.6 +9%
--------------------------- ----- --------- --------- --------- ---------
Refined copper
--------------------------- ----- --------- --------- --------- ---------
Kennecott 25.5 -38% -29% 143.3 +69%
Escondida 14.5 -5% -1% 58.6 -17%
--------------------------- ----- --------- --------- --------- ---------
Kennecott
Mined copper production was 14% higher than 2020, with higher
grades and recovery but less than expected production due to the
slope failure in May. The transition to the south wall is complete,
with copper head grade exceeding 0.5% in the second half.
Refined copper production was 69% higher than 2020 as a result
of improved performance through most of the year relative to 2020,
despite the furnace failure in September 2021. The smelter was
safely restarted in late October and has been stable since. In
2020, there was also significant downtime following an earthquake
and major maintenance.
Escondida
Mined copper production was 17% lower than 2020, mainly due to
10% lower grade in ore feed to concentrators, 4% lower throughput
and 31% lower recoverable copper in ore stacked for leaching,
mostly caused by continuous COVID-19 restrictions in 2021 which
impacted the mine development due to lower workforce
availability.
Oyu Tolgoi
Mined copper production from the open pit was 9% higher than
2020 with improved performance, temporary increase in grades, and
increased mill feed following geotechnical issues in the first
half, partly offset by lower staffing levels due to COVID-19.
Safety is our first priority and strict measures are in place to
protect our people. In the fourth quarter, stringent Chinese border
restrictions continued due to increased cases of COVID-19 in
Mongolia. We continue to work closely with the Mongolian and
Chinese authorities and our customers to manage the risk of supply
chain disruptions. Cross-border concentrate shipments into China
have resumed with some measures in place to transport greater
volumes in a safe and efficient manner, however uncertainty
continues to exist with the rate of COVID-19 cases in Mongolia. The
force majeure declared on shipments from 30 March remains in
place.
Provisional pricing
At 31 December 2021, the Group had approximately 201 million
pounds of copper sales that were
provisionally priced at 436 cents per pound. The final price of
these sales will be determined during the first half of 2022. This
compares with 260 million pounds of open shipments at 31 December
2020, provisionally priced at 336 cents per pound. Provisional
pricing adjustments positively impacted revenues in 2021 by $246
million (2020 positive impact of $182 million).
MINERALS
vs Full
Q4 vs Q4 vs Q3 Full Year Year
Rio Tinto share of production
(million tonnes) 2021 2020 2021 2021 2020
------------------------------ ------------------ --------- --------- --------- -------
Iron ore pellets and
concentrate
------------------------------ ------------------ --------- --------- --------- -------
IOC 2.5 -9% +15% 9.7 -6%
------------------------------ ------------------ --------- --------- --------- -------
vs Full
Q4 vs Q4 vs Q3 Full Year Year
Rio Tinto share of production
('000 tonnes) 2021 2020 2021 2021 2020
------------------------------ ------------------ --------- --------- --------- -------
Minerals
------------------------------ ------------------ --------- --------- --------- -------
Borates - B(2) O(3)
content 117 +18% -5% 488 +2%
Titanium dioxide slag 228 -16% +9% 1,014 -9%
------------------------------ ------------------ --------- --------- --------- -------
vs Full
Q4 vs Q4 vs Q3 Full Year Year
Rio Tinto share of production
('000 carats) 2021 2020 2021 2021 2020
------------------------------ ------------------ --------- --------- --------- -------
Diavik 1,155 +27% +38% 3,847 +3%
------------------------------ ------------------ --------- --------- --------- -------
Iron Ore Company of Canada (IOC)
Iron ore production was 6% lower than 2020 due to prolonged
labour and equipment availability issues impacting product feed and
various other operational challenges throughout the year.
Borates
Borates production in 2021 was in line with 2020 and benefited
from improved refinery operating rates following the successful
implementation of productivity initiatives supporting system
stability. We expect logistical challenges to continue with
elevated congestion at the Port of Los Angeles and shipping rate
escalation. Labour availability is also posing a threat to supply
chain stability.
Iron and Titanium
Titanium dioxide production was 9% lower than 2020. The lower
production was as a result of community disruptions and subsequent
curtailment of operations at Richards Bay Minerals (RBM) in South
Africa coupled with unplanned maintenance and equipment reliability
issues at Rio Tinto Fer et Titane (RTFT), Canada. On 24 August, RBM
resumed operations following stabilisation of the security
situation, supported by the national and provincial government, as
well as substantive engagement with host communities and their
traditional authorities.
Diamonds
On 18 November, we annou nced we had become the sole owner of
Diavik Diamond Mine in the Northwest Territories of Canada,
continuing its leading role in the Canadian diamond industry. At
Diavik, carats recovered in 2021 were 3% higher than 2020, due to
an increased share of production from November, which offset plant
performance issues and lower ore grade in the fourth quarter.
On 28 October, we announced that the 2021 Argyle Pink
Diamonds(TM) Tender collection of 70 rare pink and red diamonds
from our Argyle mine in Australia delivered record breaking results
in its 38-year history.The 2021 collection is a historical
collection comprising the pinnacle of the Argyle production, mined
in its final year of operations, before closing in November
2020.
EXPLORATION AND EVALUATION
Pre-tax and pre-divestment expenditure on exploration and
evaluation charged to the income statement in 2021 was $726
million, compared with $625 million in 2020. Approximately 40% of
this expenditure was incurred by Copper, 35% by central
exploration, 16% by Minerals and 9% by Iron Ore.
There were no significant divestments of central exploration
properties in 2021.
Exploration highlights
Rio Tinto has a strong portfolio of projects with activity in 18
countries across seven commodities in early exploration and studies
stages. All projects have followed government COVID-19 requirements
and guidelines while focusing on protecting well-being and health
of local communities. The bulk of the exploration expenditure in
the fourth quarter focused on copper in Australia, Canada,
Kazakhstan, United States and Zambia, nickel projects in Canada,
and diamonds projects in Canada. A mineral investment contract was
signed with the Republic of Angola and Endiama to explore for
diamonds. Mine-lease exploration continued at Rio Tinto managed
businesses including Pilbara Iron in Australia and Diavik in
Canada. Activities on the ground at the Falcon diamonds project in
Saskatchewan, Canada are limited to care and maintenance while Rio
Tinto continues to carry out studies and review information
acquired in previous programs.
A summary of activity for the quarter is as follows:
Greenfield/ Brownfield
Commodities Studies Stage Advanced projects programmes
----------------- ------------------------ ------------------- ----------------------
Melville Island,
Amargosa, Brazil*, Australia
Bauxite Sanxai, Laos* Cape York, Australia
----------------- ------------------------ ------------------- ----------------------
Lithium borates:
Jadar, Serbia
Nickel: Tamarack, Nickel Greenfield:
Battery Materials US (3rd party operated) Canada, Finland
----------------- ------------------------ ------------------- ----------------------
Copper Greenfield:
Australia, Chile,
China, Kazakhstan,
Copper: La Granja, Nicaragua, Peru,
Copper/molybdenum: Peru, Pribrezhniy, Serbia, US, Zambia,
Resolution, US Kazakhstan Brazil, Canada,
Copper/Gold: Winu, Calibre-Magnum, Colombia, Finland,
Copper Australia Australia Namibia
----------------- ------------------------ ------------------- ----------------------
Diamonds Greenfield:
Canada, Angola
Diamonds Brownfield:
Diamonds Falcon, Canada* Diavik
----------------- ------------------------ ------------------- ----------------------
Greenfield and
Pilbara, Australia Brownfield: Pilbara,
Iron Ore Simandou, Guinea Pilbara, Australia Australia
----------------- ------------------------ ------------------- ----------------------
Potash: KL262, Canada Heavy mineral sands
Heavy mineral sands: Greenfield: South
Minerals Mutamba, Mozambique** Africa
*Limited activity during the quarter
**Became sole owner and operator in the quarter
FORWARD-LOOKING STATEMENT
This announcement includes "forward-looking statements" within
the meaning of the 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 financial position, business strategy, plans
and objectives of management for future operations (including
development plans and objectives relating to Rio Tinto's products,
production forecasts and reserve and resource positions and any
statements related to the ongoing impact of the COVID-19 pandemic),
are forward-looking statements. The words "intend", "aim",
"project", "anticipate", "estimate", "plan", "believes", "expects",
"may", "would", "should", "could", "will", "target", "set to",
"seek", "risk" 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 results,
performance or achievements of Rio Tinto, or industry results, to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous
assumptions regarding Rio Tinto's present and future business
strategies and the environment in which Rio Tinto will operate in
the future. Among the important factors that could cause Rio
Tinto's actual results, performance or achievements to differ
materially from those in the forward-looking statements are levels
of actual production during any period, levels of demand and market
prices, the ability to produce and transport products profitably,
the impact of foreign currency exchange rates on market prices and
operating costs, operational problems, political uncertainty and
economic conditions in relevant areas of the world, the actions of
competitors, activities by governmental authorities such as changes
in taxation or regulation, the risks and uncertainties associated
with the ongoing impacts of COVID-19 or other pandemic and such
other risk factors 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. The above list is not
exhaustive. Forward-looking statements should, therefore, be
construed in light of such risk factors and undue reliance should
not be placed on forward-looking statements, particularly in light
of the current economic climate and the significant volatility,
uncertainty and disruption caused by the outbreak of COVID-19.
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 Guidance 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.
Contacts Please direct all enquiries to
media.enquiries@riotinto.com
Media Relations, UK Media Relations, Australia
Illtud Harri Jonathan Rose
M +44 7920 503 600 M +61 447 028 913
David Outhwaite Matt Chambers
M +44 7787 597 493 M +61 433 525 739
Media Relations, Americas Jesse Riseborough
M +61 436 653 412
Matthew Klar
T +1 514 608 4429
-------------------------- --------------------------------
Investor Relations, UK Investor Relations, Australia
Menno Sanderse Natalie Worley
M +44 7825 195 178 M +61 409 210 462
David Ovington Amar Jambaa
M +44 7920 010 978 M +61 472 865 948
Clare Peever
M: +44 7788 967 877
-------------------------- --------------------------------
Rio Tinto plc Rio Tinto Limited
6 St James's Square Level 7, 360 Collins Street
London SW1Y 4AD Melbourne 3000
United Kingdom Australia
T +44 20 7781 2000 T +61 3 9283 3333
Registered in England Registered in Australia
No. 719885 ABN 96 004 458 404
-------------------------- --------------------------------
This announcement is authorised for release to the market by
Steve Allen, Rio Tinto's Group Company Secretary.
riotinto.com
LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to
be disclosed under the laws of a Member State
Rio Tinto production summary
Rio Tinto share of production
Quarter Full Year % change
Q4
21
vs Q4 21 2021
2020 2021 2021 Q4 vs vs
Q4 Q3 Q4 2020 2021 20 Q3 21 2020
------------------------ ------ ------ ------ ------ ------- ------- ----------- ------------ ---------
Principal commodities
('000
Alumina t) 2,085 1,937 1,911 8,039 7,894 -8% -1% -2%
('000
Aluminium t) 815 774 757 3,180 3,151 -7% -2% -1%
('000
Bauxite t) 13,299 13,967 13,095 56,131 54,326 -2% -6% -3%
('000
Borates t) 100 123 117 480 488 +18% -5% +2%
('000
Copper - mined t) 132.5 125.2 132.3 527.9 493.5 0% +6% -7%
('000
Copper - refined t) 56.1 50.5 40.0 155.0 201.9 -29% -21% +30%
('000
Diamonds cts) 910 834 1,155 3,731 3,847 +27% +38% +3%
('000
Iron Ore t) 73,749 72,074 72,561 285,932 276,557 -2% +1% -3%
Titanium dioxide ('000
slag t) 272 209 228 1,120 1,014 -16% +9% -9%
------------------------ ------ ------ ------ ------ ------- ------- ----------- ------------ ---------
Other Metals & Minerals
('000
Gold - mined oz) 89.1 94.5 73.9 283.0 344.9 -17% -22% +22%
('000
Gold - refined oz) 38.9 44.5 31.5 117.5 176.4 -19% -29% +50%
('000
Molybdenum t) 6.4 0.4 1.1 20.4 7.6 -83% +144% -63%
('000
Uranium lbs) 742 0 0 2,870 65 -100% 0% -98%
('000
Salt t) 1,113 1,508 1,471 4,861 5,848 +32% -2% +20%
('000
Silver - mined oz) 1,120 1,110 1,108 4,357 4,148 -1% 0% -5%
('000
Silver - refined oz) 449 733 516 1,363 2,671 +15% -30% +96%
------------------------ ------ ------ ------ ------ ------- ------- ----------- ------------ ---------
Throughout this report, figures in italics indicate adjustments
made since the figure was previously quoted on the equivalent page
or reported for the first time. 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
Full Full
Rio Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
--------------------------------------- ---------- ------ ------ ------ ------ ------ ------ ------
ALUMINA
Production ('000 tonnes)
Jonquière (Vaudreuil) 100% 364 352 349 325 338 1,424 1,364
Jonquière (Vaudreuil) specialty
Alumina plant 100% 24 22 28 29 28 94 107
Queensland Alumina 80% 774 743 756 738 727 2,961 2,964
São Luis (Alumar) 10% 99 95 97 75 99 385 366
Yarwun 100% 823 822 782 770 719 3,175 3,093
Rio Tinto total alumina production 2,085 2,034 2,012 1,937 1,911 8,039 7,894
ALUMINIUM
Production ('000 tonnes)
Australia - Bell Bay 100% 48 46 47 48 48 192 189
Australia - Boyne Island 59% 77 74 75 75 75 303 298
Australia - Tomago 52% 77 75 75 77 78 305 305
Canada - six wholly owned 100% 387 385 391 343 325 1,506 1,444
Canada - Alouette (Sept-Îles) 40% 63 62 63 64 63 249 251
Canada - Bécancour 25% 29 28 29 29 30 98 116
Iceland - ISAL (Reykjavik) 100% 48 49 51 52 52 183 203
New Zealand - Tiwai Point 79% 67 65 65 67 67 265 264
Oman - Sohar 20% 20 20 20 20 20 79 79
Rio Tinto total aluminium production 815 803 816 774 757 3,180 3,151
BAUXITE
Production ('000 tonnes) (a)
Gove 100% 3,090 2,879 3,030 3,067 2,787 12,299 11,763
Porto Trombetas 12% 392 254 364 332 416 1,395 1,366
Sangaredi (b) 1,887 1,887 1,755 1,763 1,704 7,428 7,109
Weipa 100% 7,929 8,545 8,550 8,805 8,188 35,009 34,088
Rio Tinto total bauxite production 13,299 13,566 13,699 13,967 13,095 56,131 54,326
--------------------------------------- ---------- ------ ------ ------ ------ ------ ------ ------
(a) 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.
(b) Rio Tinto has a 22.95% shareholding in the Sangaredi mine
but benefits from 45.0% of production.
Rio Tinto share of production
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------ ---------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
BORATES
Production ('000
tonnes B(2)
O(3) content)
Rio Tinto
Borates -
borates 100% 100 122 126 123 117 480 488
------------------ ---------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
COPPER
Mine production
('000 tonnes)
(a)
Bingham Canyon 100% 33.8 33.2 33.7 42.8 49.7 140.0 159.4
Escondida 30% 84.8 72.1 69.5 68.4 69.6 337.8 279.5
Oyu Tolgoi (b) 34% 14.0 15.2 12.3 14.1 13.0 50.2 54.6
Rio Tinto total
mine production 132.5 120.5 115.5 125.2 132.3 527.9 493.5
Refined production
('000 tonnes)
Escondida 30% 15.2 14.0 15.3 14.7 14.5 70.2 58.6
Rio Tinto
Kennecott (c) 100% 40.9 45.2 36.9 35.7 25.5 84.8 143.3
Rio Tinto total
refined
production 56.1 59.2 52.3 50.5 40.0 155.0 201.9
------------------ ---------- ----------- ----------- ----------- ----------- ----------- ----------- -----------
(a) 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.
(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi
through its 50.79% interest in Turquoise Hill Resources Ltd.
(c) We continue to process third party concentrate to optimise
smelter utilisation, including 38.1 thousand tonnes of cathode
produced from purchased concentrate in year-to-date 2021. Purchased
and tolled copper concentrates are excluded from reported
production figures and production guidance. Sales of cathodes
produced from purchased concentrate are included in reported
revenues.
DIAMONDS
Production ('000 carats)
Diavik (a) 100% 910 1,007 851 834 1,155 3,731 3,847
(a) On 17 November 2021, Rio Tinto's ownership interest in Diavik increased
from 60% to 100%. Production is reported including this change from 1
November 2021.
GOLD
Mine production ('000 ounces)
(a)
Bingham Canyon 100% 45.3 36.2 30.5 38.1 34.7 171.2 139.5
Escondida 30% 14.3 11.4 11.7 12.6 12.9 50.9 48.5
Oyu Tolgoi (b) 34% 29.4 48.8 37.9 43.8 26.3 61.0 156.9
Rio Tinto total mine production 89.1 96.4 80.1 94.5 73.9 283.0 344.9
Refined production ('000 ounces)
Rio Tinto Kennecott 100% 38.9 56.8 43.6 44.5 31.5 117.5 176.4
---------------------------------- ---------- ---- ----- ---- ---- ----- ----- -----
(a) 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.
(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi
through its 50.79% interest in Turquoise Hill Resources Ltd.
Rio Tinto share of production
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
IRON ORE
Production ('000 tonnes) (a)
Hamersley mines (b) 53,316 47,063 47,621 53,041 51,974 210,682 199,699
Hamersley - Channar (c) 100% 1,935 2,250 2,712 2,593 3,075 6,139 10,630
Hope Downs 50% 6,571 5,616 5,960 6,500 6,567 24,522 24,642
Iron Ore Company of Canada 59% 2,740 2,345 2,721 2,163 2,498 10,402 9,727
Robe River - Pannawonica (Mesas
J and A) 53% 3,988 3,506 3,090 3,721 3,196 16,056 13,514
Robe River - West Angelas 53% 5,199 4,900 4,137 4,056 5,252 18,131 18,345
Rio Tinto iron ore production
('000 tonnes) 73,749 65,681 66,241 72,074 72,561 285,932 276,557
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Breakdown of Production:
Pilbara Blend and SP10 Lump
(d) 21,666 18,050 18,265 19,742 20,374 77,393 76,431
Pilbara Blend and SP10 Fines
(d) 31,122 28,245 28,796 30,825 32,081 123,292 119,947
Robe Valley Lump 1,364 1,307 1,219 1,423 1,152 5,561 5,102
Robe Valley Fines 2,624 2,199 1,871 2,297 2,044 10,496 8,412
Yandicoogina Fines (HIY) 14,233 13,534 13,369 15,623 14,412 58,789 56,938
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Pilbara iron ore production
('000 tonnes) 71,009 63,336 63,520 69,910 70,063 275,530 266,830
IOC Concentrate 1,297 871 1,154 829 1,009 4,781 3,863
IOC Pellets 1,443 1,474 1,567 1,335 1,489 5,622 5,864
IOC iron ore production ('000
tonnes) 2,740 2,345 2,721 2,163 2,498 10,402 9,727
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Breakdown of Shipments:
Pilbara Blend Lump 16,280 12,842 12,830 13,018 12,832 62,878 51,522
Pilbara Blend Fines 35,140 28,565 27,795 28,901 24,308 126,578 109,569
Robe Valley Lump 1,246 1,025 934 962 1,061 4,608 3,981
Robe Valley Fines 3,062 2,402 2,190 2,567 2,237 11,473 9,395
Yandicoogina Fines (HIY) 15,055 14,222 13,640 14,906 14,121 57,749 56,889
SP10 Lump (d) 1,037 2,664 3,748 4,826 4,841 3,879 16,078
SP10 Fines (d) 1,771 2,923 2,817 4,063 10,684 5,951 20,487
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Pilbara iron ore shipments
('000 tonnes) (e) 73,590 64,642 63,953 69,242 70,084 273,115 267,921
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Pilbara iron ore shipments - consolidated
basis ('000 tonnes) (e) (g) 75,630 66,431 65,627 71,131 71,972 280,831 275,161
------ ------ ------ ------ ------ ------- -------
IOC Concentrate 1,157 1,019 1,048 1,054 989 4,928 4,110
IOC Pellets 1,539 1,477 1,303 1,374 1,711 6,006 5,865
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
IOC Iron ore shipments ('000
tonnes) (e) 2,696 2,496 2,352 2,428 2,700 10,934 9,976
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Rio Tinto iron ore shipments
('000 tonnes) (e) 76,286 67,137 66,305 71,671 72,784 284,050 277,897
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Rio Tinto iron ore sales ('000
tonnes) (f) 76,125 65,551 67,145 70,967 69,489 283,778 273,153
---------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
(a) 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.
(b) Includes 100% of production from Paraburdoo, Mt Tom Price,
Western Turner Syncline, 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.
(c) Rio Tinto's ownership interest in Channar mine increased
from 60% to 100%, following conclusion of its joint venture with
Sinosteel Corporation upon reaching planned 290 million tonnes
production on 22 October 2020. Production is reported at 100% from
this date onward. Historic data is unchanged.
(d) SP10 includes other lower grade products.
(e) Shipments includes material shipped to our portside trading
facility in China which may not be sold onwards in the same
period.
(f) Represents the difference between amounts shipped to
portside trading and onward sales from portside trading, and third
party volumes sold.
(g) While Rio Tinto has a 53% net beneficial interest in Robe
River Iron Associates, it recognises 65% of the assets,
liabilities, sales revenues and expenses in its accounts (as 30% is
held through a 60% owned subsidiary and 35% is held through a 100%
owned subsidiary). The consolidated basis sales reported here
include Robe River Iron Associates on a 65% basis to enable
comparison with revenue reported in the financial statements.
Rio Tinto share of production
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------------------ ---------- ----- ----- ----- ----- ----- ----- ------
MOLYBDENUM
Mine production ('000 tonnes)
(a)
Bingham Canyon 100% 6.4 5.0 1.1 0.4 1.1 20.4 7.6
------------------------------ ---------- ----- ----- ----- ----- ----- ----- ------
(a) 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.
SALT
Production ('000 tonnes)
Dampier Salt 68% 1,113 1,411 1,458 1,508 1,471 4,861 5,848
-------------------------------- ---------- ----- ----- ----- ----- ----- ----- -----
SILVER
Mine production ('000 ounces)
(a)
Bingham Canyon 100% 555 524 476 639 589 2,205 2,228
Escondida 30% 488 395 370 387 439 1,859 1,591
Oyu Tolgoi (b) 34% 77 85 79 84 80 293 328
-------------------------------- ---------- ----- ----- ----- ----- ----- ----- -----
Rio Tinto total mine production 1,120 1,005 925 1,110 1,108 4,357 4,148
-------------------------------- ---------- ----- ----- ----- ----- ----- ----- -----
Refined production ('000
ounces)
Rio Tinto Kennecott 100% 449 812 609 733 516 1,363 2,671
-------------------------------- ---------- ----- ----- ----- ----- ----- ----- -----
(a) 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.
(b) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi
through its 50.79% interest in Turquoise Hill Resources Ltd.
TITANIUM DIOXIDE SLAG
Production ('000 tonnes)
Rio Tinto Iron & Titanium
(a) 100% 272 279 298 209 228 1,120 1,014
---------------------------- ---------- --- --- --- --- --- ----- -----
(a) Quantities comprise 100% of Rio Tinto Fer et Titane and Rio
Tinto's 74% interest in Richards Bay Minerals (RBM).
URANIUM
Production ('000 lbs U(3)
O(8) ) (a)
Energy Resources of Australia 86% 742 65 ---2,870 65
-------------------------------- ------- --- -----
( a) ERA production data are drummed U(3) O(8) .
ERA ceased processing operations on 8 January 2021, as required
by the Ranger Authority.
Rio Tinto's Argyle operations were closed in 2020. No data for
these operations are included in the Share of production table.
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 percentage interest shown above is at 31 December
2021.
Rio Tinto operational data
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------------------- ---------- ------ ------ ------ ------ ------ ------ ------
ALUMINA
Smelter Grade Alumina -
Aluminium Group
Alumina production ('000
tonnes)
Australia
Queensland Alumina Refinery
- Queensland 80% 968 929 945 922 909 3,701 3,705
Yarwun refinery - Queensland 100% 823 822 782 770 719 3,175 3,093
Brazil
São Luis (Alumar)
refinery 10% 990 953 968 748 993 3,848 3,662
Canada
Jonquière (Vaudreuil)
refinery - Quebec (a) 100% 364 352 349 325 338 1,424 1,364
(a) Jonquière's (Vaudreuil's) production shows smelter grade
alumina only and excludes hydrate produced and used for specialty
alumina.
Speciality Alumina - Aluminium
Group
Speciality alumina production
('000 tonnes)
Canada
Jonquière (Vaudreuil)
plant - Quebec 100% 24 22 28 29 28 94 107
Rio Tinto percentage interest shown above is at 31 December
2021. The data represents production and sales on a 100% basis
unless otherwise stated.
Rio Tinto operational data
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------------------- ---------- ----- ----- ----- ----- ----- ------ ------
ALUMINIUM
Primary Aluminium
Primary aluminium production
('000 tonnes)
Australia
Bell Bay smelter - Tasmania 100% 48 46 47 48 48 192 189
Boyne Island smelter -
Queensland 59% 129 124 127 125 126 510 502
Tomago smelter - New South
Wales 52% 149 145 146 150 150 592 592
Canada
Alma smelter - Quebec 100% 119 117 117 119 119 473 471
Alouette (Sept-Îles)
smelter - Quebec 40% 158 155 157 159 157 623 629
Arvida smelter - Quebec 100% 41 40 42 42 43 169 168
Arvida AP60 smelter - Quebec 100% 15 15 15 15 15 60 60
Bécancour smelter
- Quebec 25% 115 112 117 115 119 393 463
Grande-Baie smelter - Quebec 100% 57 56 57 58 58 225 230
Kitimat smelter - British
Columbia 100% 91 95 97 46 25 329 263
Laterrière smelter
- Quebec 100% 63 62 63 63 64 250 252
Iceland
ISAL (Reykjavik) smelter 100% 48 49 51 52 52 183 203
New Zealand
Tiwai Point smelter 79% 84 82 82 84 85 333 333
Oman
Sohar smelter 20% 100 98 99 100 100 397 395
Rio Tinto percentage interest shown above is at 31 December
2021. The data represents production and sales on a 100% basis
unless otherwise stated.
Rio Tinto operational data
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
--------------------------------- ---------- ------ ------ ------ ------ ------ ------ ------
BAUXITE
Bauxite production ('000 tonnes)
Australia
Gove mine - Northern Territory 100% 3,090 2,879 3,030 3,067 2,787 12,299 11,763
Weipa mine - Queensland 100% 7,929 8,545 8,550 8,805 8,188 35,009 34,088
Brazil
Porto Trombetas (MRN) mine 12% 3,268 2,117 3,033 2,764 3,469 11,629 11,383
Guinea
Sangaredi mine (a) 23% 4,193 4,194 3,899 3,919 3,786 16,506 15,797
Rio Tinto share of bauxite
shipments
Share of total bauxite shipments
('000 tonnes) 12,993 13,444 13,602 14,201 13,031 55,345 54,278
Share of third party bauxite shipments
('000 tonnes) 9,104 9,024 9,493 10,091 8,988 39,357 37,596
(a) Rio Tinto has a 22.95% shareholding in the Sangaredi mine
but benefits from 45.0% of production.
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
---------------------------- ---------- -------- -------- -------- -------- -------- ------------ ------------
BORATES
Rio Tinto Borates - borates 100%
US
Borates ('000 tonnes) (a) 100 122 126 123 117 480 488
(a) Production is expressed as B(2) O(3) content.
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------------------- --------- -------- -------- -------- -------- -------- ----------- -----------
COPPER & GOLD
Escondida 30%
Chile
Sulphide ore to concentrator
('000 tonnes) 36,303 32,654 31,903 33,528 35,787 139,230 133,872
Average copper grade (%) 0.83 0.78 0.78 0.73 0.71 0.83 0.75
Mill production (metals in
concentrates):
Contained copper ('000
tonnes) 246.1 207.8 202.8 201.2 203.6 956.8 815.5
Contained gold ('000 ounces) 47.8 38.0 38.9 42.0 42.9 169.5 161.7
Contained silver ('000
ounces) 1,627 1,318 1,234 1,291 1,462 6,196 5,305
Recoverable copper in ore stacked
for leaching ('000 tonnes) (a) 36.5 32.5 28.7 26.7 28.4 169.1 116.3
Refined production from leach
plants:
Copper cathode production
('000 tonnes) 50.8 46.6 51.1 49.0 48.4 233.9 195.3
(a) The calculation of copper in material mined for leaching is
based on ore stacked at the leach pad.
Rio Tinto percentage interest shown above is at 31 December
2021. The data represents production and sales on a 100% basis
unless otherwise stated.
Rio Tinto operational data
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
---------------------- ---------- --------- --------- --------- --------- --------- ------------ -------------
COPPER & GOLD
(continued)
Rio Tinto Kennecott
Bingham Canyon mine 100%
Utah, US
Ore treated ('000
tonnes) 11,418 10,054 7,918 9,995 9,809 44,676 37,776
Average ore grade:
Copper (%) 0.34 0.38 0.48 0.47 0.55 0.36 0.47
Gold (g/t) 0.22 0.21 0.21 0.22 0.21 0.22 0.21
Silver (g/t) 2.07 2.30 2.64 2.80 2.55 2.08 2.57
Molybdenum (%) 0.068 0.058 0.021 0.017 0.020 0.059 0.029
Copper concentrates
produced
('000 tonnes) 138 140 141 180 187 561 648
Average concentrate
grade
(% Cu) 24.2 23.7 23.9 23.7 26.3 24.8 24.5
Production of metals
in copper
concentrates:
Copper ('000 tonnes)
(a) 33.8 33.2 33.7 42.8 49.7 140.0 159.4
Gold ('000 ounces) 45.3 36.2 30.5 38.1 34.7 171.2 139.5
Silver ('000 ounces) 555 524 476 639 589 2,205 2,228
Molybdenum
concentrates produced
('000 tonnes): 12.2 9.4 2.2 1.0 2.2 40.7 14.8
Molybdenum in
concentrates
('000 tonnes) 6.4 5.0 1.1 0.4 1.1 20.4 7.6
Kennecott smelter &
refinery 100%
Copper concentrates
smelted
('000 tonnes) 234 240 103 165 157 448 665
Copper anodes produced
('000
tonnes) (b) 44.8 50.5 23.5 35.7 32.9 86.9 142.5
Production of refined
metal:
Copper ('000 tonnes)
(c) 40.9 45.2 36.9 35.7 25.5 84.8 143.3
Gold ('000 ounces)
(d) 38.9 56.8 43.6 44.5 31.5 117.5 176.4
Silver ('000 ounces)
(d) 449 812 609 733 516 1,363 2,671
(a) Includes a small amount of copper in precipitates.
(b) New metal excluding recycled material.
(c) We continue to process third party concentrate to optimise
smelter utilisation, including 38.1 thousand tonnes of cathode
produced from purchased concentrate in year-to-date 2021. Purchased
and tolled copper concentrates are excluded from reported
production figures and production guidance. Sales of cathodes
produced from purchased concentrate are included in reported
revenues.
(d) Includes gold and silver in intermediate products.
Rio Tinto percentage interest shown above is at 31 December
2021. The data represents production and sales on a 100% basis
unless otherwise stated.
Rio Tinto operational data
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------- --------- ---------- ---------- ---------- ---------- ---------- ------------ ------------
COPPER & GOLD
(continued)
Turquoise Hill
Resources
Oyu Tolgoi mine (a) 34%
Mongolia
Ore Treated ('000
tonnes) 9,594 9,813 9,401 9,336 10,573 40,200 39,124
Average mill head
grades:
Copper (%) 0.50 0.56 0.47 0.53 0.46 0.46 0.50
Gold (g/t) 0.41 0.68 0.50 0.63 0.38 0.24 0.54
Silver (g/t) 1.16 1.29 1.19 1.29 1.27 1.18 1.26
Copper concentrates
produced
('000 tonnes) 190.2 201.9 173.2 191.9 182.7 693.1 749.6
Average
concentrate
grade
(% Cu) 21.9 22.5 21.2 21.9 21.3 21.6 21.7
Production of
metals in
concentrates:
Copper in
concentrates
('000 tonnes) 41.6 45.4 36.7 41.9 38.9 149.6 163.0
Gold in
concentrates
('000
ounces) 87.8 145.7 113.1 130.8 78.6 181.9 468.1
Silver in
concentrates
('000 ounces) 231 255 235 249 239 876 977
Sales of metals in
concentrates:
Copper in
concentrates
('000 tonnes) 37.9 39.0 19.6 46.4 34.4 137.8 139.4
Gold in
concentrates
('000
ounces) 65.8 110.9 72.6 149.1 102.2 150.0 434.7
Silver in
concentrates
('000 ounces) 194 207 106 278 192 760 783
(a) Rio Tinto owns a 33.52% indirect interest in Oyu Tolgoi
through its 50.79% interest in Turquoise Hill Resources.
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------- ---------- ---------- ---------- ---------- ---------- ---------- ----------- ------------
DIAMONDS
Argyle Diamonds (a) 100%
Western Australia
AK1 ore processed
('000
tonnes) 1,078 - - - - 5,773 -
AK1 diamonds
produced ('000
carats) 1,893 - - - - 10,945 -
------------------- ---------- ---------- ---------- ---------- ---------- ---------- ----------- ------------
Diavik Diamonds (b) 100%
Northwest
Territories,
Canada
Ore processed
('000 tonnes) 643 632 669 643 596 2,518 2,540
Diamonds
recovered ('000
carats) 1,517 1,678 1,418 1,390 1,356 6,218 5,843
(a) Rio Tinto's Argyle operations were closed in 2020.
(b) On 17 November 2021, Rio Tinto's ownership interest in
Diavik increased from 60% to 100%. Production is reported including
this change from 1 November 2021.
Rio Tinto percentage interest shown above is at 31 December
2021. The data represents production and sales on a 100% basis
unless otherwise stated.
Rio Tinto operational data
Full Full
Rio Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
IRON ORE
Rio Tinto Iron Ore
Western Australia
Pilbara Operations
Saleable iron ore production
('000 tonnes)
Hamersley mines (a) 53,316 47,063 47,621 53,041 51,974 210,682 199,699
Hamersley - Channar (b) 100% 2,169 2,250 2,712 2,593 3,075 9,175 10,630
Hope Downs 50% 13,142 11,232 11,920 13,000 13,133 49,045 49,284
Robe River - Pannawonica
(Mesas J and A) 53% 7,525 6,616 5,830 7,021 6,031 30,295 25,497
Robe River - West Angelas 53% 9,809 9,246 7,806 7,652 9,909 34,209 34,613
Total production ('000 tonnes) 85,961 76,406 75,889 83,306 84,122 333,405 319,724
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Breakdown of total production:
Pilbara Blend and SP10 Lump
(c) 25,888 21,901 21,946 23,617 24,998 94,375 92,463
Pilbara Blend and SP10 Fines
(c) 38,316 34,356 34,743 37,046 38,681 149,947 144,826
Robe Valley Lump 2,574 2,467 2,300 2,686 2,173 10,492 9,626
Robe Valley Fines 4,951 4,149 3,530 4,335 3,857 19,803 15,871
Yandicoogina Fines (HIY) 14,233 13,534 13,369 15,623 14,412 58,789 56,938
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Breakdown of total shipments:
Pilbara Blend Lump 20,155 15,740 15,631 16,710 16,616 77,117 64,697
Pilbara Blend Fines 42,727 35,777 34,607 36,199 31,620 155,533 138,203
Robe Valley Lump 2,351 1,934 1,762 1,814 2,001 8,694 7,512
Robe Valley Fines 5,778 4,532 4,131 4,843 4,221 21,648 17,727
Yandicoogina Fines (HIY) 15,055 14,222 13,640 14,906 14,121 57,749 56,889
SP10 Lump (c) 1,037 2,664 3,748 4,826 4,841 3,879 16,078
SP10 Fines (c) 1,771 2,923 2,817 4,063 10,684 5,951 20,487
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Total shipments ('000 tonnes)
(d) 88,873 77,791 76,336 83,360 84,104 330,570 321,592
Full Full
Rio Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Iron Ore Company of Canada 59%
Newfoundland & Labrador and Quebec
in Canada
Saleable iron ore production:
Concentrates ('000 tonnes) 2,208 1,484 1,965 1,411 1,718 8,141 6,578
Pellets ('000 tonnes) 2,457 2,510 2,669 2,273 2,535 9,574 9,986
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
IOC Total production ('000
tonnes) 4,666 3,993 4,634 3,684 4,254 17,715 16,564
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
Shipments:
Concentrates ('000 tonnes) 1,970 1,735 1,785 1,795 1,684 8,392 7,000
Pellets ('000 tonnes) 2,620 2,515 2,220 2,340 2,914 10,229 9,988
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
IOC Total Shipments ('000
tonnes) (d) 4,591 4,250 4,005 4,136 4,598 18,621 16,989
Global Iron Ore Totals
Iron Ore Production ('000
tonnes) 90,627 80,400 80,523 86,990 88,375 351,121 336,288
Iron Ore Shipments ('000
tonnes) 93,464 82,041 80,341 87,496 88,702 349,190 338,581
Iron Ore Sales ('000 tonnes)
(e) 93,016 80,291 81,097 86,542 85,256 348,098 333,185
------------------------------- ---------- ------ ------ ------ ------ ------ ------- -------
(a) Includes 100% of production from Paraburdoo, Mt Tom Price,
Western Turner Syncline, 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.
(b) Rio Tinto's ownership interest in Channar mine increased
from 60% to 100%, following conclusion of its joint venture with
Sinosteel Corporation upon reaching planned 290 million tonnes
production on 22 October 2020. Historic data is unchanged.
(c) SP10 includes other lower grade products.
(d) Shipments includes material shipped to our portside trading
facility in China which may not be sold onwards in the same
period.
(e) Include Pilbara and IOC sales adjusted for portside trading
movements and third party volumes sold.
Rio Tinto percentage interest shown above is at 31 December
2021. The data represents production and sales on a 100% basis
unless otherwise stated.
Rio Tinto operational data
Rio Full Full
Tinto Q4 Q1 Q2 Q3 Q4 Year Year
interest 2020 2021 2021 2021 2021 2020 2021
SALT
Dampier Salt 68%
Western Australia
Salt production ('000
tonnes) 1,628 2,064 2,132 2,206 2,152 7,111 8,555
------------------------- ---------- --------- --------- --------- --------- --------- ----------- -----------
TITANIUM DIOXIDE SLAG
Rio Tinto Iron & Titanium 100%
Canada and South Africa
(Rio Tinto share) (a)
Titanium dioxide slag
('000
tonnes) 272 279 298 209 228 1,120 1,014
------------------------- ---------- --------- --------- --------- --------- --------- ----------- -----------
(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) 86%
Northern Territory,
Australia
U(3) O(8)
Production ('000
lbs) 860 75 - - - 3,471 75
-------------------- ------- ---------- ----------- ---------- ---------- ---------- ----------- -------------
(a) ERA production data are drummed U(3) O(8) .
ERA ceased processing operations on 8 January 2021, as required
by the Ranger Authority.
Rio Tinto percentage interest shown above is at 31 December
2021. The data represents production and sales on a 100% basis
unless otherwise stated.
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END
DRLSFMEEWEESESF
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January 18, 2022 02:00 ET (07:00 GMT)
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