Rio Tinto releases first quarter production results
April 19 2021 - 6:33PM
Business Wire
Rio Tinto Chief Executive Jakob Stausholm said: “We achieved an
overall solid operating performance in the first quarter. We have
maintained guidance ranges in all our products, with site teams
successfully managing the effects of significant rainfall, in
particular at our Australian iron ore assets.
"It has been a period of deep reflection for the company, and I
have personally spent a significant amount of time listening,
learning and taking actions, in particular to better manage
Traditional Owner partnerships and cultural heritage. I have
appointed a new leadership team and the transition is progressing
well. We have set out clear priorities to develop a stronger Rio
Tinto. Our focus is to become the best operator, strive for
impeccable ESG credentials, excel in development and secure a
strong social licence. This ambition will enable us to continue to
deliver superior returns to shareholders, invest in sustaining and
growing our portfolio, and make a broader contribution to
society."
Production*
Quarter 1 2021
vs Q1 2020
vs Q4 2020
Pilbara iron ore shipments (100% basis)
(Mt)
77.8
+7%
-12%
Pilbara iron ore production (100%
basis) (Mt)
76.4
-2%
-11%
Bauxite (Mt)
13.6
-2%
+2%
Aluminium (kt)
803
+3%
-1%
Mined Copper (kt)
120.5
-9%
-9%
Titanium dioxide slag (kt)
279
-5%
+3%
IOC iron ore pellets & concentrate
(Mt)
2.3
-8%
-14%
*Rio Tinto share unless otherwise
stated
Q1 Operational update
- Health, safety and well-being remains our top priority. Our all
injury frequency rate (AIFR) of 0.35 improved versus the first
quarter of 2020 (0.40). However, we recognise there is no room for
complacency and continue to focus on providing strong support for
our employees, contractors and host communities, while maintaining
critical COVID-19 controls.
- Pilbara iron ore shipments of 77.8 million tonnes (100% basis)
were 7% higher than the first quarter of 2020. Production of 76.4
million tonnes (100% basis) was 2% lower, driven by above average
wet weather in the mines through February and fixed plant
reliability. Labour resource availability and weather challenges
disrupted maintenance. Tropical Cyclone Seroja impacted mine and
port operations in April. Full year iron ore guidance remains
unchanged.
- Bauxite production of 13.6 million tonnes was 2% lower than the
first quarter of 2020 due to wet weather in Eastern Australia. The
port at the Amrun mine closed for 14 days due to large swells and
cyclones. Full year bauxite guidance remains unchanged.
- Aluminium production of 0.8 million tonnes was 3% higher than
the first quarter of 2020, with the Becancour smelter, Quebec
operating at full capacity and Kitimat, British Columbia nearing
the end of its pot relining cycle.
- Mined copper production of 120.5 thousand tonnes was 9% lower
than 2020, with lower recoveries and throughput at Escondida and
Kennecott partly offset by the anticipated higher grade from the
Oyu Tolgoi open pit. Kennecott saw a marginal increase in head
grade as it begins the transition into higher grades from the south
wall ore, with grades expected to gradually increase through 2021.
Oyu Tolgoi shipments have been affected by Chinese border
restrictions due to increased cases of COVID-19 in Mongolia. We
continue to work closely with authorities and our customers to
manage the risk of supply chain disruptions.
- Titanium dioxide slag production of 279 thousand tonnes was 5%
lower than 2020 due to a planned furnace rebuild at the Rio Tinto
Fer et Titane (RTFT) metallurgical complex in Quebec resulting in
operation of 8 out of 9 furnaces.
- Production of pellets and concentrate at Iron Ore Company of
Canada (IOC) was 8% lower than 2020 due to the impacts of weather,
loading unit availability on mine feed and reduced concentrator
mill availability. There was a fire at one of the two reclaimers at
the port on 31 March. Full year production guidance remains
unchanged.
- On 8 April, we released Taxes Paid: Our Economic Contribution
2020, showing that we made a total direct economic contribution of
$47 billion in the countries and communities where we operate,
including $8.4 billion of taxes and royalties.
- As part of our Climate Strategy, in the first quarter of this
year, we entered into two partnerships to progress our work to
decarbonise our value chain. Together with Paul Wurth S.A. and
SHS-Stahl-Holding-Saar GmbH & Co., we are exploring the
viability of transforming iron ore pellets into low-carbon hot
briquetted iron, a low-carbon steel feedstock, using green hydrogen
generated from hydro-electricity in Canada. At our Boron site in
California, we are exploring the deployment of Heliogen’s
breakthrough solar technology which will use heat from the sun to
generate and store carbon-free energy to power the mine’s
industrial processes. Further details in the Climate change and our
value chain section.
The full first quarter production results are available here
This announcement is authorised for release to the market by Rio
Tinto’s Group Company Secretary.
LEI: 213800YOEO5OQ72G2R82
Classification: 3.1 Additional regulated information required to
be disclosed under the laws of a Member State
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