SYDNEY (Yosefardi) – Based on the latest available Freeport estimates, 2013 production from Grasberg is not expected to exceed the metal attributable to Rio Tinto’s joint venture partner because of planned mine sequencing in areas with lower metal grades.
Accordingly, Rio Tinto’s share of joint venture production is unchanged and is expected to be zero for the year.
Rio Tinto reported strong 2013’s third quarter production, 68.3 mt global iron ore production (2% rise from Q3/2012), 162.3 kt mined copper (up 23%), 878 kt aluminium (up 3%), 7,070 kt semi-soft and thermal coal (up14%). While production of hard coking coal and titanium dioxide feedstock declined 6% and 7% each.
Rio Tinto expects to produce 265 million tons of iron ore in 2013, 590,000 tons of mined copper, and 270,000 tons of refined copper.
It also expects to produce 43 million tons of bauxite this year, 9.3 million tons of alumina, and 3.5 tons of aluminium.
Rio Tinto targets to produce 8 million tons of hard coking coal, 4 million tons of semi soft coking coal, and 11 million tons of themal coal. Its uranium production in 2013 is expected to be 9 million pounds.
Rio Tinto also targets to produce 15.7 million carats of diamonds this year, 0.5 million tons of borates or boric oxide equivalent, and 1.7 million tons of titanium dioxide feedstocks.