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Rio Tinto Q3 Copper production Update

Metal News - Published on Fri, 18 Oct 2019

Image Source: steelguru.com
Rio Tinto Kennecott - Third quarter mined copper production was 2% lower than the same period of 2018, but 40% higher than the previous quarter, as mining activity moved to an area of higher grades following the low grades experienced in the second quarter. Refined copper production was lower than comparable prior periods, reflecting reduced copper concentrate availability from the previous quarter, a planned smelter shut-down in July and additional unplanned maintenance which reduced furnace online time. Rio Tinto Kennecott continues to toll and purchase third party concentrate to optimise smelter utilisation, with 11.9 thousand tonnes of concentrate received for processing in the third quarter of 2019, compared with 6.3 thousand tonnes in the third quarter of 2018. Purchased and tolled copper concentrate are excluded from reported production figures. Higher molybdenum grades were sustained in the third quarter, with production of 2.1 thousand tonnes, compared with 1.4 thousand tonnes in the same quarter in 2018.

Escondida - Third quarter mined copper production at Escondida was 4% higher than the same period of 2018, mainly due to higher concentrator throughput and an increase in recoverable copper in ore stacked for leaching.

Oyu Tolgoi - Mined copper production from the open pit in the third quarter of 2019 was 28% lower than the same period in 2018 and 27% lower than the prior quarter as mining activity moved to lower grade areas of the pit, as planned.

Oyu Tolgoi Underground Project - Commissioning milestones for the primary production shaft (shaft 2) remain on target for completion in October. Rope-up of the service and production hoists was completed as planned, and testing of the braking system has also been completed. Since July 2019, we have also completed key infrastructure, including the central heating plant, the shaft 2 jaw crusher system and the surface discharge conveyor.

Resolution Copper - On 9 August 2019, Rio Tinto announced that the Resolution Copper project in the US had achieved a major permitting milestone with the release of an independently prepared Draft Environmental Impact Statement for the project. The rigorous review, conducted by the US Forest Service over a six year period, included broad public engagement.

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Posted By : Rabi Wangkhem on Fri, 18 Oct 2019
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