Rio Tinto: First quarter 2012 operations review

Tuesday, 17 April 2012 8:37 AM

First quarter 2012 operations review

 Download pdf here

Chief executive Tom Albanese said “We had a solid first quarter with increased production of iron ore, coal, bauxite, alumina and titanium dioxide compared with the first quarter of 2011. This was driven by a combination of our consistently high operating performance and reduced impact from severe weather than in 2011. We were therefore well positioned for the relatively strong markets in the first quarter, albeit with continued volatility as we anticipated.”

• First quarter global iron ore shipments of 54 million tonnes were two per cent higher than the first quarter of 2011.

• First quarter global iron ore production of 59 million tonnes (46 million tonnes attributable) was 10 per cent higher than the first quarter of 2011. Production was five million tonnes above shipments as ports in Western Australia were closed during cyclonic activity.

• During the quarter, iron ore production and shipping capacity in the Pilbara increased by a further five million tonnes to 230 million tonnes per annum (Mt/a), following the completion of the second debottlenecking project at the Dampier port on time and on budget.

• Mined copper production was 18 per cent lower than the first quarter of 2011 due to anticipated lower grades at Kennecott Utah Copper.

• Bauxite and alumina production were 10 per cent and 13 per cent higher than the first quarter of 2011. Aluminium was nine per cent lower primarily reflecting the orderly shutdown of two thirds of capacity at Alma, due to labour disruption, and the closure of Lynemouth.

• Hard coking coal production was five per cent higher than the first quarter of 2011. Rio Tinto’s share of thermal coal production was three per cent higher following the increase in ownership in the former Coal & Allied operations.

• Titanium dioxide feedstocks production was 14 per cent higher than the first quarter of 2011.

• On 1 February 2012, Rio Tinto announced that it will increase its stake in Richards Bay Minerals to 74 per cent through the acquisition of BHP Billiton's 37 per cent interest.

• On 27 March 2012, Rio Tinto announced that it has begun a strategic review of its diamond business that will include exploring a range of options for potential divestment.

• Rio Tinto completed its share buy-back programme on 26 March 2012. Since February 2011, 116.9 million Rio Tinto plc shares have been purchased at an average price of £37.47, for a total consideration of $7.0 billion.

All currency figures in this report are US dollars, and comments refer to Rio Tinto’s share of production, unless otherwise stated

 

About Rio Tinto

Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange.

Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America.


Contacts:

Media Relations, EMEA / Americas
Illtud Harri
Office: +44 (0) 20 7781 1152
Mobile: +44 (0) 7920 503 600

Tony Shaffer
Office: +44 (0) 20 7781 1138
Mobile: +44 (0) 7920 041 003

Christina Mills
Office: +44 (0) 20 7781 1154
Mobile: +44 (0) 7825 275 605

Media Relations, Australia / Asia
David Luff
Office: +61 (0) 3 9283 3620
Mobile: +61 (0) 419 850 205

Karen Halbert
Office: +61 (0) 3 9283 3627
Mobile: +61 (0) 412 119 389

Bruce Tobin
Office: +61 (0) 3 9283 3612
Mobile: +61 (0) 419 103 454

Media Relations, Canada
Bryan Tucker
Office: +1 (0) 514 848 8151
Mobile: +1 (0) 514 825 8319

Investor Relations, London
Mark Shannon
Office: +44 (0) 20 7781 1178
Mobile: +44 (0) 7917 576 597

David Ovington
Office: +44 (0) 20 7781 2051
Mobile: +44 (0) 7920 010 978

Investor Relations, North America
Jason Combes
Office: +1 (0) 801 204 2919
Mobile: +1 (0) 801 558 2645

Investor Relations, Australia
Dave Skinner
Office: +61 (0) 3 9283 3628
Mobile: +61 (0) 408 335 309

Christopher Maitland
Office +61 (0) 3 9283 3063
Mobile +61 (0) 459 800 131


Further information:

If you have been forwarded this email, you may wish to click here to signup for our media releases directly.

Follow us on Twitter

Website: www.riotinto.com

Disclaimer: Press releases published on this page are from key opinion formers who promote their organisation's activities by subscribing to a campaign site within politics.co.uk. politics.co.uk does not endorse, edit, or attempt to balance the opinions expressed on this page. The content of press releases are wholly the responsibility of the originating company or organisation.

Related stories

CBI conference 2012 as it happened

The CBI conference is a critical opportunity for politicians to impress business leaders

We've been live-blogging from the CBI conference in central London, as Cameron, Miliband, Boris and co courted Britain's business leaders.

comments comments

First employer fined for breaking minimum pay laws

First prosecution over minimum wage

The first employer has been found guilty of underpaying their staff.

Thatcher minister handed SME review

PM wants to reduce burdens on small businesses

David Cameron has tasked a former Thatcher minister with reassessing the government's relationship with small and medium-sized businesses, acknowledging "there is so much more we need to do".

Review could show 10,000 working illegally

Smith could have coovered up 10,000 immigrants working illegally in the security industry

Up to 10,000 immigrants could be working illegally in the security services, it emerged yesterday.

Spending review: 'Protect our infrastructure'

The CBI has warned the government to spare infrastructure projects it claims are vital to economic recovery

Transport and technology should be prioritised to be spared the government spending squeeze the Confederation of British Industry (CBI) has argued.

Thatcher minister tasked with health and safety review

Health and safety set for scrutiny

David Cameron has ordered a sweeping review of Britain's health and safety culture as he demands a more "sensible" approach to the issue.

Spending review: Science backed amid cuts

Scientists' lobbying seems to have paid off

Funding for Britain's science sector has avoided cuts in the comprehensive spending review.

Spending review: Scottish parties warn over defence cuts

Scottish parties have called for the MoD to safeguard big defence contracts, including the building of new aircraft carriers

Cuts to defence projects would have a devastating impact on industry and jobs in Scotland, warns a document backed by all the major Scottish parties.

Northern Rock 'to repay government by 2011'

Northern Rock reveals losses of £167.6 million.

Northern Rock said today it aims to repay the government for its emergency loans by 2011.

Tata 'fed up' with ministers over Corus closure

The Redcar plant at night

Tata Steel has "lost all confidence" in the government's ability to rescue Corus' Teesside plant, an MP has claimed.

Related Opinion Former Press Releases

Rio Tinto: Fourth quarter 2012 operations review

Rio Tinto chief executive Tom Albanese said “This was another year of strong operational performance across the Group. We achieved record annual iron ore production and shipments as our expansion programme continues on schedule, delivering industry leading returns for our shareholders. Our copper, bauxite, alumina, thermal coal and titanium dioxide businesses all delivered substantial production increases on 2011 levels.

Rio Tinto third quarter 2012 operations review

Rio Tinto chief executive Tom Albanese said “We have delivered another strong set of production results in the third quarter, including record quarterly Pilbara iron ore production. Copper, bauxite, alumina, and titanium dioxide production were all higher than in the same quarter of 2011.

Rio Tinto: First quarter 2012 operations review

Chief executive of Rio Tinto Tom Albanese said “We had a solid first quarter with increased production of iron ore, coal, bauxite, alumina and titanium dioxide compared with the first quarter of 2011. This was driven by a combination of our consistently high operating performance and reduced impact from severe weather than in 2011. We were therefore well positioned for the relatively strong markets in the first quarter, albeit with continued volatility as we anticipated.” Read more here.

Special event coverage

ESRC logo

Festival of Social Sciences: Celebrating the Social Sciences

Evidence-based policy should not be a radical concept. It needs to be celebrated.

ESRC logo

Festival of Social Sciences: 2 languages: 2 brains, 2 minds, 2 cultures?

As part of the ESRC Festival of Social Sciences, the Deafness Cognition And Language Research Centre (DCAL) hosted an event exploring the powerful benefits of bilingualism in spoken and sign languages, for hearing and deaf people alike - benefits that reach hearing and deaf people alike.

Opinion Former Events

Bpas event: Working Together for Women

Join bpas for an informal networking event which will provide an opportunity to talk to others looking to work together to effect policy changes to improve women’s lives and hear from speakers who are doing just that.