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Rio
Tinto Chief Executive J-S Jacques said “In these uncertain and
unprecedented times we continue to deliver products to our customers with
our first priority to protect the health and safety of all our employees
and communities. We are focused on maintaining a business as usual
approach and have taken extensive measures to ensure we can do so safely.
“All
of our assets continue to operate and we achieved a very robust production
performance in the first quarter. Our world-class portfolio and strong
balance sheet serve us well in all market conditions and are particularly
valuable in the current volatile environment. Our resilience and value
over volume strategy mean we can continue to invest in our business, and
support our communities and host governments.”
Pilbara Iron Ore
Pilbara
operations produced 77.8 million tonnes (Rio Tinto share 64.2 million
tonnes) in the first quarter, 2% higher than the first quarter of 2019.
Production in the quarter was impacted by Tropical Cyclone Damien in
February which caused infrastructure damage and interrupted operations due
to flooding across the Pilbara network. There was a strong recovery in
March across mines, rail and port.
First
quarter sales of 72.8 million tonnes (Rio Tinto share 59.8 million tonnes)
were 5% above the first quarter of 2019, despite significant disruptions
experienced at our ports and infrastructure damage as a result of Tropical
Cyclone Damien.
Approximately
16% of sales in the first quarter 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
33% of sales in the quarter were made free on board (FOB), with the
remainder sold including freight.
Pilbara Projects
Overall
construction is progressing with key personnel retained in Western
Australia following the implementation of border controls to limit the
transmission of Covid-19.The ramp-up of Koodaideri is still expected to
occur in early 2022.
The
other Pilbara projects remain largely on track including Western Turner
Syncline Phase 2 and Robe River Joint Venture sustaining projects (West
Angelas C&D and Mesas B, C and H at Robe Valley). Environmental
approval of Mesa H is progressing.
T1: Summary in Q1 2020
|
Million tonnes
|
Q1 2020
|
vs Q1 2019
|
vs Q4 2019
|
|
Pilbara iron ore shipments (100% basis)
|
72.9
|
5%
|
-16%
|
|
Pilbara iron ore production (100% basis)
|
77.8
|
2%
|
-7%
|
T2:
Rio Tinto Share of Production
|
Million tonnes
|
Q1 2020
|
vs Q1 2019
|
vs Q4 2019
|
|
Pilbara Blend and SP10 Lump1
|
18.5
|
-7%
|
-7%
|
|
Pilbara Blend and SP10 Fines
|
27.7
|
-4%
|
-8%
|
|
Robe Valley Lump
|
1.5
|
132%
|
-6%
|
|
Robe Valley Fines
|
2.4
|
95%
|
-14%
|
|
Yandicoogina Fines (HIY)
|
14.1
|
5%
|
-1%
|
|
Total Pilbara production
|
64.2
|
0%
|
-7%
|
|
Total Pilbara production (100% basis)
|
77.8
|
2%
|
-7%
|
T3:
Rio Tinto Operational Data
|
|
Rio Tinto
interest
|
Q1
2019
|
Q2
2019
|
Q3
2019
|
Q4
2019
|
Q1
2020
|
Full Year
2019
|
|
Western
Australia
|
|
|
|
|
|
|
|
|
Pilbara
Operations
|
|
|
|
|
|
|
|
|
Saleable
iron ore production ('000 tonnes)
|
|
|
|
|
|
|
|
Hamersley
mines
|
(a)
|
51,218
|
50,087
|
55,567
|
52,521
|
49,327
|
209,392
|
|
Hamersley
- Channar
|
60.0%
|
1,552
|
2,419
|
1,579
|
2,420
|
1,934
|
7,970
|
|
Hope
Downs
|
50.0%
|
11,913
|
12,101
|
12,155
|
12,095
|
11,334
|
48,264
|
|
Robe
River - Pannawonica (Mesas J and A)
|
53.0%
|
3,529
|
6,282
|
8,914
|
8,225
|
7,320
|
26,951
|
|
Robe
River - West Angelas
|
53.0%
|
7,783
|
8,853
|
9,133
|
8,318
|
7,912
|
34,086
|
|
Total
production ('000 tonnes)
|
|
75,995
|
79,741
|
87,347
|
83,579
|
77,827
|
326,663
|
|
Breakdown
of total production:
|
|
|
|
|
|
|
|
|
Pilbara
Blend and SP10 Lump (b)
|
|
24,068
|
24,291
|
25,434
|
24,326
|
22,592
|
98,119
|
|
Pilbara
Blend and SP10 Fines (b)
|
|
34,924
|
35,194
|
38,296
|
36,833
|
33,806
|
145,247
|
|
Robe
Valley Lump
|
|
1,198
|
2,266
|
3,113
|
2,969
|
2,778
|
9,547
|
|
Robe
Valley Fines
|
|
2,331
|
4,015
|
5,802
|
5,256
|
4,542
|
17,404
|
|
Yandicoogina
Fines (HIY)
|
|
13,473
|
13,975
|
14,704
|
14,194
|
14,110
|
56,346
|
|
Breakdown
of total shipments:
|
|
|
|
|
|
|
|
|
Pilbara
Blend Lump (c)
|
|
18,968
|
21,653
|
19,329
|
19,680
|
17,506
|
79,630
|
|
Pilbara
Blend Fines (c)
|
|
33,016
|
39,358
|
36,947
|
39,186
|
33,197
|
148,508
|
|
Robe
Valley Lump
|
|
863
|
1,957
|
2,433
|
2,350
|
2,135
|
7,603
|
|
Robe
Valley Fines
|
|
2,468
|
4,862
|
6,318
|
6,149
|
5,071
|
19,797
|
|
Yandicoogina
Fines (HIY)
|
|
12,294
|
15,212
|
14,286
|
15,260
|
12,913
|
57,052
|
|
SP10
Lump (b)
|
|
0
|
635
|
2,685
|
2,072
|
1,006
|
5,391
|
|
SP10
Fines (b)
|
|
1,542
|
1,747
|
4,057
|
2,081
|
1,089
|
9,427
|
|
Total
shipments ('000 tonnes) (d)
|
|
69,150
|
85,423
|
86,055
|
86,779
|
72,916
|
327,408
|
|
Breakdown
of total sales:
|
|
|
|
|
|
|
|
|
Pilbara
Blend Lump (c)
|
|
18,968
|
21,653
|
19,329
|
19,680
|
17,506
|
79,630
|
|
Pilbara
Blend Fines (c)
|
|
33,016
|
39,358
|
36,947
|
39,186
|
33,197
|
148,508
|
|
Robe
Valley Lump
|
|
863
|
1,957
|
2,433
|
2,350
|
2,135
|
7,603
|
|
Robe
Valley Fines
|
|
2,468
|
4,862
|
6,318
|
6,149
|
5,071
|
19,797
|
|
Yandicoogina
Fines (HIY)
|
|
12,294
|
15,212
|
14,286
|
15,260
|
12,913
|
57,052
|
|
SP10
Lump (b)
|
|
0
|
635
|
2,611
|
1,733
|
907
|
4,979
|
|
SP10
Fines (b)
|
|
1,542
|
1,747
|
3,962
|
1,185
|
1,104
|
8,437
|
|
Total
sales ('000 tonnes)
|
|
69,150
|
85,423
|
85,888
|
85,545
|
72,833
|
326,006
|
|
(a)
Includes 100% of production from Paraburdoo, Mt Tom Price, 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) SP10 include other lower grade products. SP10 fines sales also
include IOC product that is further blended and sold at port in
China.
(c) Restatement due to separately reporting SP10 lump and SP10 fines
products that include other lower grade products.
(d) Shipments represent iron ore exported from Western Australian
ports: a portion of this material is shipped for portside trading to
be further blended and subsequently sold.
|
|
Rio
Tinto percentage interest shown above is at 31 March 2020. The data
represent full production and sales on a 100% basis unless otherwise
stated.
|
|
Iron
Ore Company of Canada
|
58.7%
|
|
|
|
|
|
|
|
Newfoundland
& Labrador and Quebec in Canada
|
|
|
|
|
|
|
|
Saleable
iron ore production:
|
|
|
|
|
|
|
|
|
Concentrates
('000 tonnes)
|
|
1,516
|
2,031
|
2,384
|
1,951
|
1,572
|
7,883
|
|
Pellets
('000 tonnes)
|
|
2,709
|
2,280
|
2,657
|
2,415
|
2,788
|
10,061
|
|
IOC
Total production ('000 tonnes)
|
|
4,225
|
4,311
|
5,041
|
4,366
|
4,360
|
17,943
|
|
Shipments:
|
|
|
|
|
|
|
|
|
Concentrates
('000 tonnes)
|
|
878
|
2,239
|
2,427
|
2,083
|
1,713
|
7,628
|
|
Pellets
('000 tonnes)
|
|
2,684
|
2,424
|
2,093
|
2,406
|
3,013
|
9,607
|
|
IOC
Total Shipments ('000 tonnes)
|
|
3,562
|
4,663
|
4,520
|
4,490
|
4,726
|
17,235
|
|
IOC
Total Sales ('000 tonnes)
|
|
3,562
|
4,663
|
4,520
|
4,490
|
4,726
|
17,235
|
|
Global
Iron Ore Totals
|
|
|
|
|
|
|
|
|
Iron
Ore Production ('000 tonnes)
|
|
80,219
|
84,052
|
92,389
|
87,945
|
82,187
|
344,606
|
|
Iron
Ore Shipments ('000 tonnes)
|
|
72,712
|
90,085
|
90,576
|
91,269
|
77,642
|
344,642
|
Official Document
|
(To contact the reporter on this story: cody.wang@steelhome.cn or 86-555-2238837 18725550282) |
