16th Oct 2018 06:29
LONDON (Alliance News) - Australian mining giant Rio Tinto PLC reported Pilbara iron ore shipments of 81.9 million tonnes on a 100% basis in the third quarter, 5% lower than in the third quarter of 2017, due to planned maintenance cycles and safety pauses across all operations following the fatality.
Third-quarter Pilbara iron ore production of 82.5 million tonnes - Rio Tinto share 69.1 million tonnes - was 3% lower than in the third quarter of 2017, due to planned maintenance cycles and safety pauses across all operations following the fatality at Paraburdoo operations.
Rio Tinto said Pilbara shipments in 2018 are expected to be at the upper end of the existing guidance range of 330 to 340 million tonnes on a 100% basis.
Bauxite production of 12.7 million tonnes was 1% lower than the corresponding quarter of 2017, with strong production at Weipa offset by lower production at the non-managed Sangaredi and Porto Trombetas mines. Third-party shipments increased by 2% to 8.4 million tonnes, reflecting firm demand, the company said.
Aluminium production of 0.9 million tonnes was 1% lower than in the third quarter of 2017 due primarily to ongoing labour disruptions at the non-managed Becancour smelter in Canada. Full year guidance has been revised to between 3.4 million and 3.5 million tonnes from 3.5 million to 3.7 million tonnes previously.
Mined copper production of 159,700 tonnes was 32% higher than the corresponding quarter of 2017, primarily reflecting increased production from Rio Tinto Kennecott due to higher grades.
Production at Iron Ore Co of Canada was 9% lower than in the third quarter of 2017; however it was significantly higher than the previous quarter as operations ramped up to normal production rates following a labour dispute in the previous quarter.
At Argyle, carat production was 19% lower than in the third quarter of 2017, when production was enhanced by the processing of higher-grade alluvial tailings, Rio Tinto said.
At Diavik, carats recovered in the third quarter of 2018 were 9% below that of the corresponding period in 2017 due to lower grades. The A21 project successfully mined first ore in March 2018, the company said, and is expected to reach commercial production during the fourth quarter of 2018. This fourth diamond pipe was officially opened back in August.
Rio Tinto's expected share of bauxite production in 2018 has been revised to the upper end of the previous guidance range at between 50 and 51 million tones. It was previously expected to be in the range of 49 million tonnes to 51 million tonnes.
Aluminium guidance is revised to between 3.4 million and 3.5 million tonnes from 3.5 million to 3.7 million tonnes previously, to reflect the impact of the ongoing lock-out at the non-managed Becancour smelter, Rio Tinto said. This excludes any potential adjustment from the completion of the sale of the Aluminium Dunkerque smelter.
Alumina production guidance remains unchanged at 8.0 million to 8.2 million tonnes.
Rio Tinto's expected share of mined copper production for 2018 is expected to be at the upper end of the previously published range of between 510,000 and 610,000 tonnes. Refined copper production is expected to be between 225,000 to 265,000 tonnes.
Diamond production guidance for 2018 is between 17 million and 20 million carats.
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