Rio Tinto plc Reports Production Results for the Fourth Quarter and Full Year of 2012
January 15, 2013 at 12:33 am EST
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Rio Tinto plc reported production results for the fourth quarter and full year of 2012. For the quarter, the company announced global production of 66 million tonnes (Rio Tinto share 52 million tonnes) was 2% higher than the same period in 2011. saleable iron ore production was 13% higher than the fourth quarter of 2011, due to operating improvements and increased capacity from the first phase of the Concentrate Expansion Projects (CEP1). All available production was sold and shipped in 2012. Production of copper contained in concentrate increased through the second half of 2012 due to the expected recovery in ore grades, with fourth quarter production 26% higher than the fourth quarter of 2011. Refined copper production also recovered during the second half of 2012, due to improved mine production and inventory processing following the successful maintenance shutdown of the smelter during the second quarter. Mined copper production was 33% higher than the fourth quarter of 2011. This resulted from an expected recovery in ore grades and increased ore delivered to the concentrator. Alumina production was production was 23% higher than the same period in 2011, as greater alumina refining capacity at Yarwun came on-line from July 2012. Rio Tinto Alcan's aluminium production was 2% lower than the fourth quarter of 2011, largely due to the impact of the Alma lockout, where ramp-up in production continues following the agreement reached in July 2012. Hard coking coal production in Australia was 31% lower than the same period in 2011. This was due to the impact of dragline maintenance at Hail Creek Mine and a major preparation plant shutdown at Kestrel Mine as part of its mine expansion project. Australian thermal coal production increased 37% compared with the fourth quarter of 2011. This reflected increased plant capacity at Bengalla, the realization of brownfield expansions to release latent capacity at Hunter Valley Operations and Mount Thorley Warkworth, the continued ramp-up at Clermont Mine and increased ownership in the former Coal & Allied operations. Borates production was 13% lower than the fourth quarter of 2011, in response to current market conditions. Salt production was 13% lower than the fourth quarter of 2011 as additional maintenance activities were completed.
For the year, the company announced total mined copper production for 2012 was 6% higher than in 2011, due to expected recovery in ore grades at Kennecott Utah Copper and Escondida. Bauxite and alumina production in 2012 were 11% and 12% higher than 2011, driven by increased third-party demand for bauxite and expanded refining capacity at Yarwun. Aluminium production was 10pc lower, as ramp-up to normal capacity continued following resolution of the Alma labour dispute. Thermal coal production rose 16pc, reflecting increased plant capacity at Bengalla, the continued ramp-up at Clermont and the reversal of one-off disruptions in the fourth quarter of 2011. Hard coking coal production fell 9%, due to the impact of planned dragline maintenance at Hail Creek and a major preparation plant shutdown at Kestrel as part of its mine expansion project.
Rio Tinto plc is one of the world's leaders in mining research, prospecting and operating. Net sales break down by family of products as follows:
- iron ore (59%): 283.2 Mt produced in 2022;
- aluminum, alumina and bauxite (24.9%): 54.6 Mt bauxite, 7.5 Mt alumina and 3 Mt aluminum produced;
- copper (5.8%) : 521.1 Kt produced;
- industrial minerals (4.8%): titanium dioxide pigments (1,200 Kt produced), borates (532 Kt produced) and salts (5.7 Mt produced);
- diamonds (1.5%) : 4.7 million carats produced;
- gold (1%) : 235,000 ounces produced;
- other (3%): uranium, silver, zinc and molybdenum.
Net sales are distributed geographically as follows: the United Kingdom (0.3%), Europe (6.5%), China (54.3%), Japan (7.4%), Asia (7.1%), the United States (15.9%), Canada (3.1%), Australia (1.9%) and other (3.5%).