Rio Tinto releases third quarter production results
15 Outubro 2020 - 6:30PM
Business Wire
Rio Tinto Chief Executive J-S Jacques said “We have delivered a
good operational performance across most of our assets catching up
on planned maintenance activity, particularly in iron ore, and
continuing to adapt to new operating conditions as we learn to live
with COVID-19. We have maintained our capex guidance and our 2020
production guidance across our key products.
“We are focused on regaining the trust of the Puutu Kunti
Kurrama and Pinikura people (PKKP) with a focus on remedy. On
Tuesday 13 October we wrote a letter to Traditional Owners in the
Pilbara detailing that we will review all heritage disturbance in
consultation with them; and shared our intention to modernise our
agreements which includes modifying clauses to ensure respect,
transparency and mutual benefit.
“Rio Tinto has shown great resilience through challenging
conditions and will continue to prioritise the health and safety of
our employees, contractors and communities. The quality of our
assets, coupled with our strong focus on capital discipline and
value over volume approach, mean we can continue to invest in our
business, support our communities, pay taxes and royalties to host
governments and continue to generate superior returns to
shareholders in the short, medium and long term.”
Production*
Q3 2020
vs Q3 2019
vs Q2 2020
9 MTHS 2020
vs 9 MTHS 2019
Pilbara iron ore shipments (100%
basis)
Mt
82.1
-5
%
-5
%
241.7
0
%
Pilbara iron ore production (100%
basis)
Mt
86.4
-1
%
+4
%
247.4
+2
%
Bauxite
Mt
14.5
+5
%
-1
%
42.8
+7
%
Aluminium
kt
797
+1
%
+2
%
2,365
-1
%
Mined Copper
kt
129.6
-18
%
-2
%
395.4
-10
%
Titanium dioxide slag
kt
293
-9
%
+12
%
848
-8
%
IOC iron ore pellets and concentrate
Mt
2.3
-21
%
-15
%
7.7
-4
%
*Rio Tinto share unless otherwise stated
Q3 Operational update
- Our All Injury Frequency Rate (AIFR) of 0.35 has improved
through 2020 versus 2019 (0.42). We have successfully adapted our
assets and offices to the new operating conditions associated with
COVID-19 and we continue to closely manage this risk to protect our
people and communities.
- Pilbara operations are returning to more normal operating
conditions with rosters back to pre-COVID-19 settings although
controls to protect our employees, contractors and communities
remain in place. Total material moved was a record for the quarter
with Pilbara iron ore production of 86.4 million tonnes (100%
basis), 1% lower than the third quarter of 2019. A recovery in
planned maintenance activity in the port led to 5% lower
shipments.
- Bauxite production of 14.5 million tonnes, 5% higher than the
third quarter of 2019, with increased year on year production
across all sites, including record quarterly production at the
non-managed CBG joint venture in Guinea.
- Aluminium production of 0.8 million tonnes in the third quarter
was 1% higher than the third quarter of 2019 with stable operations
across our smelter portfolio.
- Third quarter mined copper was 18% lower than the same period
of 2019 due to lower grade at Kennecott as a result of pit
sequencing to accommodate the extended smelter shutdown. Refined
copper was 57% lower, primarily due to delays in restarting the
Kennecott smelter.
- On 19 August, we announced an update to our refined copper
guidance following delays to the restart of the smelter at
Kennecott due to unexpected issues following planned maintenance.
The safe start-up of the smelter has commenced and consistent with
the announcement, we expect that it will be fully operational
during October. 2020 guidance for refined copper remains at 135 to
175 thousand tonnes.
- On 28 August, we noted Turquoise Hill Resources’ (TRQ)
publication of its ‘2020 Oyu Tolgoi Technical Report’ (2020 OTTR)
in relation to the Oyu Tolgoi (OT) project in Mongolia. All
estimates are subject to potential changes once the definitive
estimate is complete, which is still expected later in 2020.
Preliminary indications from the definitive estimate process are
that first sustainable production is trending towards the earlier
months of the October 2022 to June 2023 range. The estimated
development capital cost remains within the range of $6.6 to $7.1
billion, and has now been updated to include known impacts of the
COVID-19 pandemic. Further information can be found in the
Investments, growth and development projects section below.
- On 10 September, we announced we had entered a Memorandum of
Understanding (MOU) with TRQ, that provides a pathway to progress
the financing for completion of the Oyu Tolgoi Underground Project
in Mongolia and address TRQ’s funding position.
- Titanium dioxide slag production of 293 thousand tonnes was 9%
lower than the third quarter of 2019 due to COVID-19 restrictions
in Quebec and South Africa and lower market demand.
- Production of pellets and concentrate at Iron Ore Company of
Canada (IOC) was 21% lower than the same period of 2019 due to an
annual maintenance shutdown deferred from June to September as a
result of COVID-19 travel restrictions. A weather related power
failure and mechanical issues also impacted production in the third
quarter.
The full third 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
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201015006086/en/
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Rio Tinto plc 6 St James’s Square London SW1Y
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Rio Tinto Limited Level 7, 360 Collins Street
Melbourne 3000 Australia T +61 3 9283 3333
Registered in Australia ABN 96 004 458 404
Category: General
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