EX-99.3 4 u55622exv99w3.htm EXHIBIT 99.3 EXHIBIT 99.3
Exhibit 99.3
(RIO TINTO LOGO)
Rio Tinto plc
5 Aldermanbury Square
London EC2V 7HR
United Kingdom
T +44 (0) 20 7781 2000
F +44 (0) 20 7781 1800
Press release
First quarter 2008 operations review
16 April 2008
Commenting on the first quarter’s production results, chief executive Tom Albanese said: “Our expansion drive continues to pay off with a record-breaking first quarter for the iron ore and aluminium product groups. Markets remain very strong and the prices of many of our products are at record highs, bearing out our view that the US slowdown will have little effect on global metal and mineral supply and demand balances.
“The integration of the Alcan acquisition is going well, and our investment assumptions for this business are already being exceeded. This year we expect to invest at record levels across the group in bringing new production onstream, so we can continue to benefit from economies undergoing rapid, metals intensive phases of development.”
  Record first quarter global production of iron ore, up 16 per cent on the first quarter of 2007.
 
  Record first quarter iron ore production of 43 million tonnes in the Pilbara, Western Australia, up 15 per cent (100 per cent basis) compared with the first quarter of 2007 as the iron ore operations deliver their rapid expansion programme.
 
  Strong contribution from Rio Tinto Alcan in the quarter, with a significant uplift in production compared to the first quarter of 2007. Bauxite increased by 106 per cent, alumina by 236 per cent and aluminium by 386 per cent, following a good performance from the Canadian smelters.
 
  On a proforma basis the respective increases for bauxite, alumina and aluminium were 20 per cent, ten per cent and two per cent.
 
  Mined copper production declined by six per cent compared with the first quarter of 2007, primarily reflecting lower grades at Kennecott Utah Copper and Northparkes.
 
  Australian thermal and coking coal production was affected by heavy rains, notably in Queensland where the coal industry generally suffered production and logistics disruption.
 
  Uranium production was 20 per cent higher than the 2007 comparative period.
 
  During the quarter Rio Tinto reached agreement on the first two sales under its planned programme to divest around $10 billion of assets in 2008. The sale of the Greens Creek silver, lead and zinc mine in Alaska for $750 million was announced and the sale of the Cortez gold mine in Nevada was completed for $1.695 billion. In addition, Rio Tinto will benefit from a deferred bonus payment in the event of a significant discovery of additional reserves and resources at the Cortez gold mine and will also retain a contingent royalty interest in future production. Funds from these sales will be used to pay down part of the debt raised to finance the Alcan acquisition.
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This quarterly report is published instead of any Interim Management Statement, in accordance with the requirements of rules 4.3.2 and 4.3.6 of the Disclosure and Transparency Rules.
All currency figures in this report are US dollars unless otherwise stated
IRON ORE
Rio Tinto share of production (000 tonnes)
                         
    Q1 08     vs Q1 07     vs Q4 07  
Hamersley
    27,016       +13 %     -6 %
Hope Downs
    538             +1587 %
Robe River
    7,189       +11 %     -5 %
IOC (pellets and concentrate)
    2,119       +50 %     -6 %
Conditions in the iron ore market remain extremely tight with demand continuing to grow strongly. Rio Tinto continued to negotiate with customers to establish the 2008 iron ore benchmark prices and obtain a freight premium, reflecting its proximity to major customers in Asia.
During the first quarter Rio Tinto was actively selling iron ore into the spot market, as foreshadowed in its announcement of 18 December 2007.
Production and rail tonnages both increased steadily during the quarter, helped by infrastructure debottlenecking and associated scheduling. Expanded rail yard capacity and the introduction of 40 new generation locos and new rolling stock will deliver increasing benefits during the year.
Expansion projects continued to make strong progress, with the capacity upgrade of the Cape Lambert port from 55 million tonnes to 80 million tonnes per annum proceeding on track, despite challenging conditions from tropical cyclones. The feasibility study into increasing annual capacity in the Pilbara to 320 million tonnes is advancing according to plan.
Hamersley, Hope Downs and Robe River
Production from the Pilbara operations was severely affected by cyclonic activity during the quarter. In addition, a serious failure of gas supply in January led to immediate power shortages throughout Western Australia, which curtailed production and rail operations for several days. Despite these adverse conditions, record first quarter production and sales were achieved. Production for the quarter would have been in line with the fourth quarter 2007, but for these conditions.
Hamersley’s record first quarter production was up 13 per cent on the corresponding quarter of 2007, following the ramp up of the Yandicoogina capacity expansion to 52 million tonnes per annum, and the brownfield expansions at Nammuldi and Tom Price in the West Pilbara.
The Hope Downs mine produced over one million tonnes during the quarter (on a 100 per cent basis) as it started to ramp up towards its 30 million tonnes per annum capacity by early 2009.
Robe River first quarter production was 11 per cent up on the previous corresponding period, reflecting improved production at Mesa J and West Angelas.
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HIsmelt
HIsmelt has recorded limited production so far this year (18,073 tonnes) due to downtime for required maintenance. The opportunity to conduct trials has yielded strong signs that benefits from improvements will be realised, particularly to increase time in operation.
Strong interest in the HIsmelt technology has been sustained and licence negotiations with several steelmakers are progressing.
Iron Ore Company of Canada
Strong production of pellets and concentrates at the Iron Ore Company of Canada reflected record mine performance for a first quarter and debottlenecking efforts at the plant, as well as the absence of labour stoppages in 2007.
In March, Rio Tinto approved a US$475 million project to increase the Iron Ore Company of Canada’s annual production of concentrate to 22 million tonnes. The investment is the first phase of an expansion programme that may see production increase 50 per cent by 2011.
ALUMINIUM
Rio Tinto share of production (000 tonnes)
                         
    Q1 08     vs Q1 07     vs Q4 07  
Rio Tinto Alcan
                       
Bauxite
    8,798       +106 %     +13 %
Alumina
    2,220       +236 %     +20 %
Aluminium
    1,025       +386 %     +23 %
                         
    Q1 08     Q1 07     vs Q1 07  
Rio Tinto Alcan
          proforma 1   proforma 1
Bauxite
    8,798       7,350       +20 %
Alumina
    2,220       2,017       +10 %
Aluminium
    1,025       1,004 2     +2 %
 
1 Includes Alcan data from 1 January 2007.
2 Excludes Vlissingen smelter (Netherlands,) which was divested in the first half of 2007.
Production records were set across the board in the Aluminium product group. First quarter production of bauxite, alumina and aluminium increased sharply compared with the same quarter of 2007 following the Alcan acquisition. Rio Tinto acquired the operating assets of Alcan with effect from 24 October 2007 and its production is included from that date. Proforma Rio Tinto Alcan production data for 2007 was published on 12 March 2008 and can be found on the Rio Tinto website at www.riotinto.com/media/5157_7363.asp
Bauxite
First quarter bauxite production was 106 per cent higher than the first quarter of 2007 and 20 per cent higher on a proforma basis. First quarter bauxite production at Weipa was 17 per cent above the same quarter of 2007, reflecting increased capacity following the commissioning of the second shiploader.
Alumina
First quarter alumina production was 236 per cent higher than the first quarter of 2007 and ten per cent higher on a proforma basis. The Yarwun alumina refinery operated consistently at its rated capacity of 1.4 million tonnes per annum, increasing production by 17 per cent when compared with the first quarter of 2007 when maintenance shutdowns occurred.
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Expansion work on the Yarwun alumina refinery is progressing on budget and on track for its first shipment of alumina in the second half of 2010. The US$1.8 billion project, announced in July 2007, will more than double annual production of the refinery, taking output from 1.4 million tonnes to 3.4 million tonnes by 2011.
Construction of the 1.8 million tonne per annum expansion of the Gove refinery is nearing completion. Production during the first quarter of 2008 reflected stabilisation of the newly commissioned plant. Full capacity is anticipated to be achieved during 2009.
Aluminium
First quarter aluminium production was 386 per cent higher than the first quarter of 2007 and two per cent higher on a like for like basis. All the Rio Tinto Alcan smelters operated well throughout the quarter with the Canadian smelters raising production by four per cent compared with the proforma first quarter 2007 levels.
COPPER
Rio Tinto share of production
                         
    Q1 08     vs Q1 07     vs Q4 07  
Kennecott Utah Copper
                       
Mined copper (000 tonnes)
    44.7       -17 %     -16 %
Refined copper (000 tonnes)
    52.1       -25 %     -12 %
Molybdenum (000 tonnes)
    3.4       -27 %     +15 %
Mined gold (000 ozs)
    69       -36 %     -24 %
Refined gold (000 ozs)
    81       -30 %     -39 %
Escondida
                       
Mined copper (000 tonnes)
    117.2       +5 %     +13 %
Refined copper (000 tonnes)
    15.7       -21 %     -1 %
Grasberg JV
                       
Mined copper (000 tonnes)
    6.9       +20 %     -26 %
Mined gold (000 ozs)
    0       -100 %     -100 %
Kennecott Utah Copper
With the exception of molybdenum, metals’ head grades for the first quarter of 2008 were lower than those of the fourth quarter of 2007 and all metal head grades were lower than the first quarter of 2007. In addition, the processing of harder ore decreased throughput and increased maintenance at the concentrator.
Grades at Bingham Canyon are expected to remain relatively low during the first half of 2008 but are anticipated to return to more normal levels during the second half.
Production decreases at the smelter and refinery, from 2007 to 2008, are attributable to lower head grades and concentrate production, resulting in the depletion of concentrate inventory in late 2007. A 26 day refinery shutdown is scheduled for July 2008 and an 11 day smelter maintenance shutdown is scheduled for August 2008.
Escondida
Mined copper for the quarter improved by five per cent compared with the corresponding period of 2007, attributable to higher copper grades for the leachate material. Refined copper production in the first quarter of 2008 was 21 per cent lower than the prior year due to low oxide leach production.
Grasberg
Lower copper and gold grades were a major factor in lowering Rio Tinto’s share of copper production and reducing its share of gold production to nil in the first quarter of 2008, compared with the fourth quarter of 2007.
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Mining is expected to continue in a relatively low-grade section of the Grasberg open pit in the first half of 2008 and a higher-grade section in the second half of 2008. Gold and silver volumes for 2008 are expected to be below the metal strip in 2008.
Other operations
Lower copper and gold production at Northparkes was due to the treatment of lower grade open cut stockpile material. Grade is expected to increase as the underground production from E26 Lift 2 North ramps up to full production, displacing the lower grade open cut material. Northparkes production for 2008 is expected to be more than 40 per cent below 2007.
DIAMONDS
Rio Tinto share of production (000 carats)
                         
    Q1 08     vs Q1 07     vs Q4 07  
Argyle
    2,172       -37 %     -64 %
Diavik
    1,071       -31 %     -39 %
Production at Argyle in the first quarter of 2008 was adversely affected by wet weather and a slip in the main pit access ramp that together restricted access to high grade ore zones. Pit access has been re-established and production is expected to improve as the wet season comes to an end. Variability in feed grades and production rates will continue as the open-pit approaches the end of its life and the mine transitions to an underground operation.
At Diavik, the quantities of ore processed and carats recovered in the first quarter of 2008 were 31 per cent lower than 2007. Extreme cold temperatures experienced between January and the first half of March negatively impacted equipment reliability resulting in lower ore recovered and processed. A decrease in grade which commenced in the fourth quarter of 2007 continued throughout the first quarter of 2008.
ENERGY
US thermal coal
Rio Tinto share of production (000 tonnes)
                 
    Q1 08   vs Q1 07   vs Q4 07
Rio Tinto Energy America
    30,632   +1%   -8%
First quarter production was lower than the preceding quarter, but rose slightly above the same quarter of 2007, as expansion projects at the Spring Creek and Antelope mines neared completion, offsetting lower production at Jacobs Ranch and Colowyo.
Australian coal
Rio Tinto share of production (000 tonnes)
                         
    Q1 08     vs Q1 07     vs Q4 07  
Rio Tinto Coal Australia
                       
Hard coking coal
    1,043       -27 %     -32 %
Other coal
    5,711       -19 %     +1 %
Central Queensland coal operations suffered from the heavy rains during the quarter, and the consequent flooding disrupted production and transportation, particularly at Hail
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Creek. Shipping opportunities were maximised at Blair Athol, which was not directly affected by the Queensland floods, with an eight per cent increase in production. Overall, the Rio Tinto coal operations in Queensland were able to maximise opportunities from the recent floods by buying and swapping rail and port allotments from other, worse impacted producers.
In New South Wales, reduced port throughput from coal chain infrastructure limitations continued to restrict output from Rio Tinto subsidiary Coal & Allied’s mines.
An investment programme by the owners and operators of the coal ports at Newcastle and Dalrymple Bay on the eastern seaboard of Australia is expected to increase capacity in the second half of 2008 and into 2009.
Rio Tinto sold its 100 per cent share in the Tarong Coal mine in Queensland with an effective date of 31 January 2008 and production data are shown up to that date.
Uranium
Rio Tinto share of production (000 lbs)
                         
    Q1 08     vs Q1 07     vs Q4 07  
Energy Resources of Australia
    2,011       +33 %     -12 %
Rössing
    1,335       +3 %     +10 %
First quarter 2008 production at ERA’s Ranger mine was 33 per cent higher than the comparative quarter of 2007 when exceptionally high rainfall was experienced. This rainfall event also impacted 2007 throughput, and ERA entered the 2008 wet season with lower than normal high grade stockpiles. This gave rise to a 12 per cent reduction in production in the first quarter of 2008 compared with the fourth quarter of 2007.
Higher grades at Rössing led to a three per cent improvement in production in the first quarter of 2008 compared with the same quarter of 2007.
MINERALS
Rio Tinto share of production (000 tonnes)
                         
    Q1 08     vs Q1 07     vs Q4 07  
Borates
    153       +18 %     +1 %
Titanium dioxide feedstocks
    356       +1 %     -7 %
First quarter borates production rose by 18 percent compared with the same quarter of 2007, driven by strong demand in Asia Pacific and Europe.
EXPLORATION AND EVALUATION
Pre-tax expenditure on exploration and evaluation charged to the profit and loss account in the first quarter of 2008 was $159 million compared with $72 million in same period of 2007.
Pre-feasibility or feasibility work progressed on a number of important projects including Resolution (copper/gold, US), La Granja (copper, Peru), Eagle (nickel/copper, US), Potasio Rio Colorado (potash, Argentina), Simandou (iron ore, Guinea) and several Pilbara iron ore deposits.
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A summary of activity for the period is as follows:
         
Product Group   Advanced projects   Greenfield programmes
Aluminium
      Brazil, Colombia, Australia
 
Copper and Diamonds
  Sulawesi nickel, Indonesia: Contract of Work negotiations progressing Lakeview nickel-copper, US: Order of magnitude study initiated
Bunder diamonds, India: Order of magnitude study continued
  Chile: two joint ventures signed with CODELCO
Copper and Nickel programmes continued in: Russia (Rio Nor JV), Kazakhstan, US, Mexico, Peru, Argentina, southern and central Africa;
Diamond programmes continued in: India, Canada, Russia and Mauritania Remaining interest in Corani, Peru was divested.
 
       
Energy & Minerals
  Huren Gol coal, Mongolia and Landazuri coal, Colombia: coal measures intersected in drilling; Chilubane and Mutamba ilmenite Mozambique; Jadar lithium borates, Serbia: order of magnitude studies continued   Colombia, Canada, US, southern Africa, Argentina, Russia and Mongolia (coal) 
Australia, Canada, Turkey, Serbia (industrial minerals)
Zambia (Uranium)
 
       
Iron Ore
  Pilbara, Australia:
delineation
drilling continued
at several advanced
prospects
  Brazil, Argentina, Guinea, and Gabon
Mine-lease exploration continued at a number of Rio Tinto businesses including Kennecott Utah Copper, Northparkes, Rössing, Argyle, Diavik and Pilbara Iron.
About Rio Tinto
Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and NYSE listed public company, and Rio Tinto Limited, which is a public company listed on the Australian Securities Exchange.
Rio Tinto’s business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span the world but are strongly represented in Australia and North America with significant businesses in South America, Asia, Europe and southern Africa.
Forward-Looking Statements
This announcement includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding Rio Tinto’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto’s products, production forecasts and reserve and resource positions), are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or
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achievements of Rio Tinto, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Rio Tinto’s present and future business strategies and the environment in which Rio Tinto will operate in the future. Among the important factors that could cause Rio Tinto’s actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation and such other risk factors identified in Rio Tinto’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) or Form 6-Ks furnished to the SEC. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this announcement. Rio Tinto expressly disclaims any obligation or undertaking (except as required by applicable law, the City Code on Takeovers and Mergers (the “Takeover Code”), the UK Listing Rules, the Disclosure and Transparency Rules of the Financial Services Authority and the Listing Rules of the Australian Securities Exchange) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Rio Tinto’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Nothing in this announcement should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed its historical published earnings per share.
Subject to the requirements of the Takeover Code, none of Rio Tinto, any of its officers or any person named in this announcement with their consent or any person involved in the preparation of this announcement makes any representation or warranty (either express or implied) or gives any assurance that the implied values, anticipated results, performance or achievements expressed or implied in forward-looking statements contained in this announcement will be achieved.
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High resolution photographs available at: www.newscast.co.uk

 


 

Rio Tinto production summary
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
ALUMINA
                                                       
Production (‘000 tonnes)
Gardanne (a)
    100 %                       21       21       21  
Gove (a)
    100 %                       405       554       405  
Jonquiere (a)
    100 %                       252       327       252  
Queensland Alumina (a) (b)
    80 %     365       362       377       662       756       1,766  
Sao Luis (Alumar) (a)
    10 %                       29       38       29  
Yarwun
    100 %     296       323       301       339       348       1,260  
Speciality alumina plants (a)
    100 %                       144       176       144  
             
Rio Tinto total alumina production
            661       685       679       1,853       2,220       3,877  
 
 
                                                       
ALUMINIUM (c)
                                                       
Refined production (‘000 tonnes) Australia — Bell Bay
    100 %     43.6       44.1       44.7       44.6       44.0       176.9  
Australia — Boyne Island
    59 %     80.2       81.6       81.1       82.4       81.9       325.3  
Australia — Tomago (a)
    52 %                       50.2       65.7       50.2  
Cameroon — Alucam (Edea) (a)
    47 %                       8.8       9.4       8.8  
Canada — seven wholly owned (a)
    100 %                       270.5       360.1       270.5  
Canada — Alouette (a)
    40 %                       43.5       56.9       43.5  
Canada — Becancour (a)
    25 %                       20.1       25.2       20.1  
China — Ningxia (Qingtongxia) (a)
    50 %                       15.5       20.3       15.5  
France — three wholly owned (a)
    100 %                       79.7       101.7       79.7  
Iceland — ISAL (Reykjavik) (a)
    100 %                       35.0       46.2       35.0  
New Zealand — Tiwai Point (a)
    79 %     68.7       69.4       70.3       70.3       69.1       278.7  
Norway — SORAL (Husnes) (a)
    50 %                       16.0       21.4       16.0  
UK — two wholly owned (a)
    100 %                       41.6       55.3       41.6  
UK — Anglesey
    51 %     18.4       18.7       18.8       18.8       18.7       74.7  
USA — Sebree (a)
    100 %                       36.8       48.9       36.8  
 
                                                       
             
Rio Tinto total aluminium production
            210.9       213.8       214.9       833.7       1,024.9       1,473.2  
 
 
                                                       
BAUXITE
                                                       
Production (‘000 tonnes)
Awaso (a) (d)
    80 %                       173       205       173  
Sangaredi (a)
    (e )                       1,248       1,770       1,248  
Gove (a)
    100 %                       985       1,327       985  
Porto Trombetas (a)
    12 %                       407       491       407  
Weipa (f)
    100 %     4,272       4,278       4,676       4,984       5,005       18,209  
             
Rio Tinto total bauxite production
            4,272       4,278       4,676       7,797       8,798       21,022  
 
 
                                                       
BORATES
                                                       
Production (‘000 tonnes B2O3 content)
Rio Tinto Minerals — borates
    100 %     129       145       134       151       153       560  
 
 
                                                       
COAL — HARD COKING
                                                       
Rio Tinto Coal Australia (‘000 tonnes)
                                                       
Hail Creek Coal
    82 %     1,124       1,032       864       1,090       663       4,110  
Kestrel Coal
    80 %     314       601       700       454       380       2,069  
             
Rio Tinto total hard coking coal production
            1,438       1,633       1,564       1,544       1,043       6,179  
 
 
                                                       
COAL — OTHER *
                                                       
Rio Tinto Coal Australia (‘000 tonnes)
Bengalla
    30 %     398       324       422       417       319       1,561  
Blair Athol Coal
    71 %     1,667       1,580       1,374       1,023       1,808       5,645  
Hunter Valley Operations
    76 %     2,004       1,818       1,774       2,047       2,139       7,642  
Kestrel Coal
    80 %     151       271       261       145       110       828  
Mount Thorley Operations
    61 %     497       252       396       625       432       1,771  
Tarong Coal (g)
    0 %     1,736       1,021       872       881       262       4,510  
Warkworth
    42 %     586       584       756       504       641       2,430  
             
Total Australian other coal
            7,041       5,850       5,855       5,642       5,711       24,388  
             
 
                                                       
Rio Tinto Energy America (‘000 tonnes)
                                                       
Antelope
    100 %     7,691       7,682       7,601       8,292       7,958       31,267  
Colowyo
    (h )     1,224       1,342       1,280       1,232       1,001       5,077  
Cordero Rojo
    100 %     9,060       9,034       8,622       9,996       9,200       36,712  
Decker
    50 %     744       784       833       809       740       3,170  
Jacobs Ranch
    100 %     8,537       8,478       8,750       8,801       7,904       34,565  
Spring Creek
    100 %     3,100       2,999       3,938       4,254       3,829       14,291  
             
Total US coal
            30,357       30,318       31,024       33,384       30,632       125,083  
             
Rio Tinto total other coal production
            37,398       36,169       36,878       39,025       36,342       149,471  
 
Mine production figures for metals refer to the total quantity of metal produced in concentrates or doré bullion irrespective of whether these products are then refined on-site.
* Coal — other includes thermal coal and semi-soft coking coal.
See footnotes on page 12.
     
First quarter 2008 operations review   Page 10

 


 

Rio Tinto share of production (continued)
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
COPPER
                                                       
Mine production (‘000 tonnes)
                                                       
Bingham Canyon
    100 %     54.1       55.6       49.5       53.0       44.7       212.2  
Escondida
    30 %     111.5       105.2       101.2       103.8       117.2       421.6  
Grasberg — Joint Venture (i)
    40 %     5.8       5.6       7.5       9.4       6.9       28.4  
Northparkes
    80 %     13.7       9.9       5.6       5.3       4.1       34.5  
Palabora
    58 %     13.0       10.2       8.7       9.3       12.8       41.2  
             
Rio Tinto total mine production
            198.1       186.5       172.5       180.8       185.6       737.9  
             
 
                                                       
Refined production (‘000 tonnes)
                                                       
Escondida
    30 %     19.9       19.7       16.1       15.8       15.7       71.5  
Kennecott Utah Copper
    100 %     69.7       67.9       68.7       59.3       52.1       265.6  
Palabora
    58 %     12.0       13.2       13.8       13.8       10.5       52.9  
             
Rio Tinto total refined production
            101.6       100.7       98.7       89.0       78.3       390.0  
 
 
                                                       
DIAMONDS
                                                       
Production (‘000 carats)
                                                       
Argyle
    100 %     3,470       4,414       4,865       5,995       2,172       18,744  
Diavik
    60 %     1,551       1,975       1,874       1,766       1,071       7,166  
Murowa
    78 %     12       24       31       46       52       113  
             
Rio Tinto total diamond production
            5,033       6,413       6,770       7,807       3,296       26,023  
 
 
                                                       
GOLD
                                                       
Mine production (‘000 ounces)
                                                       
Barneys Canyon
    100 %     2       3       3       2       2       11  
Bingham Canyon
    100 %     106       117       86       88       67       397  
Cortez/Pipeline (j)
    0 %     45       61       53       55       29       215  
Escondida
    30 %     14       14       14       14       12       56  
Grasberg — Joint Venture (i)
    40 %     74       97       149       103       0       423  
Greens Creek (j)
    70 %     11       11       13       12       11       48  
Northparkes
    80 %     20       17       12       13       8       63  
Rawhide
    51 %     3       3       2       2       2       10  
Others
          3       3       3       3       2       11  
             
Rio Tinto total mine production
            278       327       335       293       133       1,233  
             
Refined production (‘000 ounces)
                                                       
Kennecott Utah Copper
    100 %     115       147       128       133       81       523  
 
 
                                                       
IRON ORE & IRON
                                                       
Production (‘000 tonnes)
                                                       
Corumbá
    100 %     460       424       528       365       508       1,777  
Hamersley — six wholly owned mines
    100 %     20,161       24,617       23,990       25,799       23,731       94,567  
Hamersley — Channar
    60 %     1,585       1,743       1,554       1,448       1,484       6,330  
Hamersley — Eastern Range
    (k)       2,166       1,670       1,562       1,535       1,801       6,932  
Hope Downs (l)
    50 %                             32       538       32  
Iron Ore Company of Canada
    59 %     1,413       1,730       2,376       2,248       2,119       7,768  
Robe River
    53 %     6,460       6,932       6,381       7,529       7,189       27,301  
             
Rio Tinto total mine production
            32,245       37,117       36,390       38,956       37,371       144,707  
             
Pig iron production (‘000 tonnes)
                                                       
HIsmelt®
    60 %     13       0       29       27       11       69  
 
LEAD
                                                       
Mine production (‘000 tonnes)
                                                       
Greens Creek (j)
    70 %     2.9       2.8       3.3       3.0       2.8       11.9  
 
 
                                                       
MOLYBDENUM
                                                       
Mine production (‘000 tonnes)
                                                       
Bingham Canyon
    100 %     4.7       3.8       3.5       3.0       3.4       14.9  
 
 
                                                       
SALT
                                                       
Production (‘000 tonnes)
                                                       
Rio Tinto Minerals — salt (m)
    68 %     1,116       958       1,480       1,686       1,257       5,242  
 
 
                                                       
SILVER
                                                       
Mine production (‘000 ounces)
                                                       
Bingham Canyon
    100 %     856       981       757       892       616       3,487  
Escondida
    30 %     563       592       670       536       494       2,361  
Grasberg — Joint Venture (i)
    40 %     0       114       210       154       0       477  
Greens Creek (j)
    70 %     1,666       1,627       1,607       1,175       1,172       6,075  
Others
          187       166       127       121       74       602  
             
Rio Tinto total mine production
            3,272       3,480       3,371       2,878       2,356       13,002  
             
Refined production (‘000 ounces)
                                                       
Kennecott Utah Copper
    100 %     870       1,014       1,164       1,317       929       4,365  
 
Mine production figures for metals refer to the total quantity of metal produced in concentrates or doré bullion irrespective of whether these products are then refined on-site, except for the data for iron ore which represent production of saleable quantities of ore plus pellets.
See footnotes on page 12.
     
First quarter 2008 operations review   Page 11

 


 

Rio Tinto share of production (continued)
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
TALC
                                                       
Production (‘000 tonnes)
                                                       
Rio Tinto Minerals — talc
    100 %     352       326       318       284       342       1,281  
 
 
                                                       
TITANIUM DIOXIDE FEEDSTOCK
                                                       
Production (‘000 tonnes)
                                                       
Rio Tinto Iron & Titanium
    100 %     351       367       356       384       356       1,458  
 
 
                                                       
URANIUM
                                                       
Production (‘000 lbs U3O6)
                                                       
Energy Resources of Australia
    68 %     1,507       2,236       1,980       2,288       2,011       8,011  
Rössing
    69 %     1,292       971       1,126       1,216       1,335       4,605  
             
Rio Tinto total uranium production
            2,799       3,207       3,105       3,504       3,346       12,616  
 
 
                                                       
ZINC
                                                       
Mine production (‘000 tonnes)
                                                       
Greens Creek (j)
    70 %     8.8       7.5       9.6       9.8       8.7       35.7  
 
Production data notes
 
(a)   Rio Tinto acquired the operating assets of Alcan with effect from 24 October 2007; production is shown as from that date. The Rio Tinto assets and the Alcan assets have been combined under the Rio Tinto Alcan name.
 
(b)   Rio Tinto held a 38.6% share in QAL until 24 October 2007; this increased to 80.0% following the Alcan acquisition
 
(c)   Following a review of the basis for reporting aluminium smelter production tonnes, the data reported now reflects hot metal production rather than saleable product tonnes.
 
(d)   Rio Tinto Alcan has an 80% interest in the Awaso mine but purchases the additional 20% of production
 
(e)   Rio Tinto has a 22.9% shareholding in the Sangaredi mine but receives 45% of production under the partnership agreement.
 
(f)   Includes beneficiated and calcined bauxite production.
 
(g)   Rio Tinto sold its 100% share in Tarong with an effective date of 31 January 2008 and production data are shown up to that date.
 
(h)   In view of Rio Tinto Energy America’s responsibilities under a management agreement for the operation of the Colowyo mine, all of Colowyo’s output is included in Rio Tinto’s share of production.
 
(i)   Through a joint venture agreement with Freeport-McMoRan Copper & Gold (FCX), Rio Tinto is entitled to 40% of additional material mined as a consequence of expansions and developments of the Grasberg facilities since 1998. Rio Tinto’s share of production reflects actual production for the first quarter of 2008.
 
(j)   In February 2008 Rio Tinto reached agreement for the sale of Greens Creek and on 5 March 2008 the Group completed the sale of its interest in the Cortez joint venture to its partner. Cortez production data are shown up to that date.
 
(k)   Rio Tinto’s share of production includes 100% of the production from 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.
 
(l)   Hope Downs started production in the fourth quarter of 2007
 
(m)   Rio Tinto increased its shareholding in Rio Tinto Minerals — salt to 68.4% at the beginning of July 2007.
Where Rio Tinto’s beneficial interest in an operation has changed, as indicated above, the share of production has been calculated using the weighted average interest over the relevant periods. Rio Tinto percentage interest shown above is at 31 March 2008.
     
First quarter 2008 operations review   Page 12

 


 

Rio Tinto production summary
Rio Tinto share of production
                                                     
        QUARTER     FULL YEAR     % CHANGE  
                                        Q1 08     Q1 08  
        2007     2007     2008             vs     vs  
Principal Commodities       Q1     Q4     Q1     2007     Q1 07     Q4 07  
Alumina
  (‘000 t)     661       1,853       2,220       3,877       236 %     20 %
Aluminium
  (‘000 t)     210.9       833.7       1,024.9       1,473.2       386 %     23 %
Bauxite
  (‘000 t)     4,272       7,797       8,798       21,022       106 %     13 %
Borates
  (‘000 t)     129       151       153       560       18 %     1 %
Coal — hard coking coal
  (‘000 t)     1,438       1,544       1,043       6,179       -27 %     -32 %
Coal — other Australian
  (‘000 t)     7,041       5,642       5,711       24,388       -19 %     1 %
Coal — US
  (‘000 t)     30,357       33,384       30,632       125,083       1 %     -8 %
Copper — mined
  (‘000 t)     198.1       180.8       185.6       737.9       -6 %     3 %
Copper — refined
  (‘000 t)     101.6       89.0       78.3       390.0       -23 %     -12 %
Diamonds
  (‘000 cts)     5,033       7,807       3,296       26,023       -35 %     -58 %
Gold — mined
  (‘000 ozs)     278       293       133       1,233       -52 %     -55 %
Gold — refined
  (‘000 ozs)     115       133       81       523       -30 %     -39 %
Iron ore
  (‘000 t)     32,245       38,956       37,371       144,707       16 %     -4 %
Titanium dioxide feedstock
  (‘000 t)     351       384       356       1,458       1 %     -7 %
Uranium
  (‘000 lbs)     2,799       3,504       3,346       12,616       20 %     -5 %
 
                                                   
Other Metals & Minerals
                                                   
Lead
  (‘000 t)     2.9       3.0       2.8       11.9       -5 %     -7 %
Molybdenum
  (‘000 t)     4.7       3.0       3.4       14.9       -27 %     15 %
Pig Iron
  (‘000 t)     13       27       11       69       -16 %     -60 %
Salt
  (‘000 t)     1,116       1,686       1,257       5,242       13 %     -25 %
Silver — mined
  (‘000 ozs)     3,272       2,878       2,356       13,002       -28 %     -18 %
Silver — refined
  (‘000 ozs)     870       1,317       929       4,365       7 %     -29 %
Talc
  (‘000 t)     352       284       342       1,281       -3 %     21 %
Zinc
  (‘000 t)     8.8       9.8       8.7       35.7       -2 %     -12 %
Throughout this report, figures in italics indicate adjustments made since the figure was previously quoted on the equivalent page.
Production figures are sometimes more precise than the rounded numbers shown, hence small differences may result between the total of the quarter figures and the full year figures.
     
First quarter 2008 operations review   Page 13

 


 

Rio Tinto operational data
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
Aluminium
                                                       
Rio Tinto Alcan (a)
                                                       
 
                                                       
Bauxite Mines
                                                       
Bauxite production (‘000 tonnes)
                                                       
Australia
                                                       
Gove mine — Northern Territory (a)
    100.0 %                       985       1,327       985  
Weipa mine — Queensland (b)
    100.0 %     4,272       4,278       4,676       4,984       5,005       18,209  
Brazil
                                                       
Porto Trombetas (MRN) mine (a)
    12.0 %                       3,392       4,093       3,392  
Ghana
                                                       
Awaso mine (a) (c)
    80.0 %                       216       256       216  
Guinea
                                                       
Sangaredi mine (a) (d)
    22.9 %                       2,774       3,934       2,774  
 
                                                       
Rio Tinto Alcan share of bauxite shipments
                                                       
Share of bauxite shipments (‘000 tonnes)
            4,263       4,157       4,774       6,682       6,787       19,877  
 
                                                       
Smelter-Grade Alumina Refineries
                                                       
Alumina production (‘000 tonnes)
                                                       
Australia
                                                       
Gove refinery — Northern Territory (a)
    100.0 %                       405       554       405  
Queensland Alumina Refinery — Queensland (a) (e)
    80.0 %     945       938       977       956       945       3,816  
Yarwun refinery — Queensland
    100.0 %     296       323       301       339       348       1,260  
Brazil
                                                       
Sao Luis (Alumar) refinery (a)
    10.0 %                       288       379       288  
Canada
                                                       
Jonquiere refinery — Quebec (a)
    100.0 %                       252       327       252  
France
                                                       
Gardanne refinery (a)
    100.0 %                       21       21       21  
 
                                                       
Specialty Alumina Plants
                                                       
Speciality alumina production (‘000 tonnes)
                                                       
Canada
                                                       
Brockville plant — Quebec (a)
    100.0 %                       3       4       3  
Jonquiere plant — Quebec (a)
    100.0 %                       22       31       22  
France
                                                       
Beyrede plant (a)
    100.0 %                       6       7       6  
Gardanne plant (a)
    100.0 %                       102       116       102  
La Bathie plant (a)
    100.0 %                       5       9       5  
Germany
                                                       
Teutschenthal plant (a)
    100.0 %                       6       8       6  
 
(a)   Rio Tinto acquired the operating assets of Alcan with effect from 24 October 2007; production is shown as from that date. The Rio Tinto assets and the Alcan assets have been combined under the Rio Tinto Alcan name.
 
(b)   For Weipa, beneficiated and calcined production, previously shown separately, are now shown on one row
 
(c)   Rio Tinto Alcan has an 80% interest in the Awaso mine but purchases the additional 20% of production
 
(d)   Rio Tinto has a 22.9% shareholding in the Sangaredi mine but receives 45% of production under the partnership agreement.
 
(e)   Rio Tinto held a 38.6% share in QAL until 24 October 2007; this increased to 80.0% following the Alcan acquisition
Rio Tinto percentage interest shown above is at 31 March 2008. The data represent full production and sales on a 100% basis unless otherwise stated.
     
First quarter 2008 operations review   Page 14

 


 

Rio Tinto operational data
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
Aluminium (continued)
                                                       
 
                                                       
Aluminium Smelters (a)
                                                       
Primary aluminium production (‘000 tonnes)
                                                       
Australia
                                                       
Bell Bay smelter — Tasmania
    100.0 %     44       44       45       45       44       177  
Boyne Island smelter — Queensland
    59.4 %     135       137       137       139       138       548  
Tomago smelter — New South Wales (b)
    51.6 %                       97       127       97  
Cameroon
                                                       
Alucam (Edea) smelter (b)
    46.7 %                       19       20       19  
Canada
                                                       
Alma smelter — Quebec (b)
    100.0 %                       80       107       80  
Alouette (Sept-Iles) smelter — Quebec (b)
    40.0 %                       109       142       109  
Arvida smelter — Quebec (b)
    100.0 %                       32       42       32  
Beauharnois, smelter — Quebec (b)
    100.0 %                       10       13       10  
Becancour smelter — Quebec (b)
    25.1 %                       80       101       80  
Grande-Baie smelter — Quebec (b)
    100.0 %                       40       52       40  
Kitimat smelter — British Colombia (b)
    100.0 %                       47       63       47  
Laterriere smelter — Quebec (b)
    100.0 %                       44       58       44  
Shawinigan smelter — Quebec (b)
    100.0 %                       18       25       18  
China
                                                       
Ningxia (Qingtongxia) smelter (b)
    50.0 %                       31       41       31  
France
                                                       
Dunkerque smelter (b)
    100.0 %                       49       62       49  
Lannemezan, smelter (b)
    100.0 %                       5       5       5  
St-Jean-de Maurienne smelter (b)
    100.0 %                       25       34       25  
Iceland
                                                       
ISAL (Reykjavik) smelter (b)
    100.0 %                       35       46       35  
New Zealand
                                                       
Tiwai Point smelter
    79.4 %     87       87       89       89       87       351  
Norway
                                                       
SORAL (Husnes) smelter (b)
    50.0 %                       32       43       32  
United Kingdom
                                                       
Anglesey Aluminium smelter
    51.0 %     36       37       37       37       37       147  
Lochaber smelter (b)
    100.0 %                       8       11       8  
Lynemouth smelter (b)
    100.0 %                       33       44       33  
USA
                                                       
Sebree smelter — Kentucky (b)
    100.0 %                       37       49       37  
 
                                                       
Rio Tinto Alcan share of metal sales
                                                       
Share of primary aluminium sales (‘000 tonnes)
            196       226       211       1,031       1,287       1,663  
 
a) Following a review of the basis for reporting aluminium smelter production tonnes, the data reported now reflects hot metal production rather than saleable product tonnes.
 
b) Rio Tinto acquired the operating assets of Alcan with effect from 24 October 2007; production is shown as from that date. The Rio Tinto assets and the Alcan assets have been combined under the Rio Tinto Alcan name.
 
                                                       
 
Borates
                                                       
 
                                                       
Rio Tinto Minerals — borates
    100.0 %                                                
California, US and Argentina
                                                       
Borates (‘000 tonnes) (a)
            129       145       134       151       153       560  
 
(a) Production is expressed as B 2 O3content.
 
Rio Tinto percentage interest shown above is at 31 March 2008. The data represent full production and sales on a 100% basis unless otherwise stated.
     
First quarter 2008 operations review   Page 15

 


 

Rio Tinto operational data
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
Coal
                                                       
 
                                                       
Rio Tinto Coal Australia
                                                       
Bengalla mine
    30.3 %                                                
New South Wales, Australia
                                                       
Thermal coal production (‘000 tonnes)
            1,315       1,070       1,394       1,376       1,053       5,155  
Blair Athol Coal mine
    71.2 %                                                
Queensland, Australia
                                                       
Thermal coal production (‘000 tonnes)
            2,341       2,218       1,929       1,436       2,538       7,924  
Hail Creek Coal mine
    82.0 %                                                
Queensland, Australia
                                                       
Hard coking coal production (‘000 tonnes)
            1,371       1,259       1,054       1,329       808       5,012  
Hunter Valley Operations
    75.7 %                                                
New South Wales, Australia
                                                       
Thermal coal production (‘000 tonnes)
            2,316       2,020       1,883       2,046       2,143       8,264  
Semi-soft coking coal production (‘000 tonnes)
            331       381       460       657       683       1,830  
Kestrel Coal mine
    80.0 %                                                
Queensland, Australia
                                                       
Thermal coal production (‘000 tonnes)
            189       339       326       181       138       1,035  
Hard coking coal production (‘000 tonnes)
            392       751       875       567       475       2,586  
Mount Thorley Operations
    60.6 %                                                
New South Wales, Australia
                                                       
Thermal coal production (‘000 tonnes)
            657       280       261       731       382       1,929  
Semi-soft coking coal production (‘000 tonnes)
            163       137       393       302       332       995  
Tarong Coal mine (a)
    0.0 %                                                
Queensland, Australia
                                                       
Thermal coal production (‘000 tonnes)
            1,736       1,021       872       881       262       4,510  
Warkworth mine
    42.1 %                                                
New South Wales, Australia
                                                       
Thermal coal production (‘000 tonnes)
            1,343       1,172       1,663       1,197       1,522       5,376  
Semi-soft coking coal production (‘000 tonnes)
            51       216       133       0       1       400  
 
                                                       
             
Total hard coking coal production (‘000 tonnes)
            1,763       2,010       1,929       1,896       1,284       7,598  
             
Total hard coking coal sales (‘000 tonnes)
            1,776       1,605       1,580       1,962       1,245       6,924  
             
Total other coal production (‘000 tonnes) (b)
            10,443       8,854       9,314       8,808       9,052       37,419  
             
Total other coal sales (‘000 tonnes) (c) (d)
            11,127       9,762       9,322       9,892       9,459       40,103  
             
 
                                                       
             
Total coal production (‘000 tonnes)
            12,206       10,864       11,243       10,704       10,336       45,017  
             
Total coal sales (‘000 tonnes)
            12,903       11,368       10,902       11,854       10,703       47,026  
             
 
                                                       
Rio Tinto Coal Australia share
                                                       
             
Share of hard coking coal sales (‘000 tonnes)
            1,447       1,306       1,285       1,600       1,015       5,639  
             
Share of other coal sales (‘000 tonnes) (c) (d)
            7,523       6,453       5,937       6,285       5,994       26,197  
             
 
(a) Rio Tinto sold its 100% share in Tarong with an effective date of 31 January 2008 and production data are shown up to that date.
 
(b) Other coal production includes thermal coal and semi-soft coking coal.
 
(c) Other coal sales includes thermal coal, semi-soft coking coal and semi-hard coking coal (a mixture of thermal coal and coking coal).
 
(d) Sales relate only to coal mined by the operations and exclude traded coal.
 
 
                                                       
Rio Tinto Energy America
                                                       
Antelope mine
    100.0 %                                                
Wyoming, US
                                                       
Thermal coal production (‘000 tonnes)
            7,691       7,682       7,601       8,292       7,958       31,267  
Colowyo mine
    (a )                                                
Colorado, US
                                                       
Thermal coal production (‘000 tonnes)
            1,224       1,342       1,280       1,232       1,001       5,077  
Cordero Rojo mine
    100.0 %                                                
Wyoming, US
                                                       
Thermal coal production (‘000 tonnes)
            9,060       9,034       8,622       9,996       9,200       36,712  
Decker mine
    50.0 %                                                
Montana, US
                                                       
Thermal coal production (‘000 tonnes)
            1,488       1,568       1,666       1,618       1,480       6,340  
Jacobs Ranch mine
    100.0 %                                                
Wyoming, US
                                                       
Thermal coal production (‘000 tonnes)
            8,537       8,478       8,750       8,801       7,904       34,565  
Spring Creek mine
    100.0 %                                                
Montana, US
                                                       
Thermal coal production (‘000 tonnes)
            3,100       2,999       3,938       4,254       3,829       14,291  
 
                                                       
             
Total coal production (‘000 tonnes)
            31,101       31,103       31,857       34,192       31,372       128,253  
             
Total coal sales (‘000 tonnes)
            31,101       31,103       32,165       33,891       31,393       128,260  
             
 
(a) In view of Rio Tinto Energy America’s responsibilities under a management agreement for the operation of the Colowyo mine, all of Colowyo’s output is included in Rio Tinto’s share of production.
 
Rio Tinto percentage interest shown above is at 31 March 2008. The data represent full production and sales on a 100% basis unless otherwise stated.
     
First quarter 2008 operations review   Page 16

 


 

Rio Tinto operational data
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
Copper and gold
                                                       
 
                                                       
Escondida
    30.0 %                                                
Chile
                                                       
Sulphide ore to concentrator (‘000 tonnes)
            23,450       23,064       22,406       21,777       22,029       90,697  
Average copper grade (%)
            1.62       1.58       1.63       1.72       1.56       1.64  
Mill production (metals in concentrates):
                                                       
Contained copper (‘000 tonnes)
            319.1       305.6       305.2       316.8       284.7       1,246.7  
Contained gold (‘000 ounces)
            45       48       48       45       39       187  
Contained silver (‘000 ounces)
            1,877       1,973       2,234       1,786       1,647       7,870  
 
                                                       
Ore to leach (‘000 tonnes) (a)
            15,509       8,435       7,329       3,723       19,156       34,996  
Average copper grade (%)
            0.34       0.53       0.44       0.78       0.55       0.45  
Contained copper in leachate/mined material (‘000 tonnes)
            52       45       32       29       106       159  
 
                                                       
Refined production from leach plants:
                                                       
Copper cathode production (‘000 tonnes)
            66       66       54       53       52       238  
 
 
                                                       
Freeport-McMoRan Copper & Gold
                                                       
Grasberg mine (a)   0.0%(40.0% of the expansion)                                
Papua, Indonesia
                                                       
Ore treated (‘000 tonnes)
            20,563       19,568       18,267       19,195       16,648       77,593  
Average mill head grades:
                                                       
Copper (%)
            1.21       0.82       0.58       0.65       0.67       0.82  
Gold (g/t)
            2.01       1.63       0.70       0.52       0.37       1.24  
Silver (g/t)
            4.75       3.56       2.91       2.77       2.23       3.53  
 
                                                       
Production of metals in concentrates:
                                                       
Copper in concentrates (‘000 tonnes)
            225.6       145.9       90.8       107.1       95.7       569.4  
Gold in concentrates (‘000 ounces)
            1,182       916       336       254       149       2,689  
Silver in concentrates (‘000 ounces)
            2,273       1,397       693       875       663       5,238  
Sales of payable metals in concentrates: (b)
                                                       
Copper in concentrates (‘000 tonnes)
            194.2       157.4       96.9       91.5       94.0       540.0  
Gold in concentrates (‘000 ounces)
            1,010       978       383       220       155       2,591  
Silver in concentrates (‘000 ounces)
            1,571       1,202       598       585       545       3,957  
 
(a) Through a joint venture agreement with Freeport-McMoRan Copper & Gold (FCX), Rio Tinto is entitled to 40% of additional material mined as a consequence of expansions and developments of the Grasberg facilities since 1998. The 1Q 2008 results show the forecast from FCX’s most recent five-year plan because FCX is not releasing its actual 100% operating data for 1Q 2008 until the release of its 2008 first-quarter results on April 23, 2008.
 
(b) Net of smelter deductions.
 
Rio Tinto percentage interest shown above is at 31 March 2008. The data represent full production and sales on a 100% basis unless otherwise stated.
     
First quarter 2008 operations review   Page 17

 


 

Rio Tinto operational data
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
Copper and gold (continued)
                                                       
 
                                                       
Kennecott Minerals Company
                                                       
Cortez/Pipeline mine (a)
    0.0 %                                                
 
                                                       
Nevada, US
                                                       
Ore treated
                                                       
Milled (‘000 tonnes)
            763       697       914       648       491       3,023  
Leached (‘000 tonnes)
            11,007       5,956       4,775       8,510       1,839       30,248  
Sold for roasting (‘000 tonnes)
                                           
Average ore grade: gold
                                                       
Milled (g/t)
            2.49       2.80       2.83       4.18       3.40       3.02  
Leached (g/t)
            0.52       0.51       0.50       0.50       0.50       0.51  
Sold for roasting (g/t)
                                           
Gold produced (‘000 ounces)
            113       154       134       138       72       538  
 
                                                       
Greens Creek mine (a)
    70.3 %                                                
Alaska, US
                                                       
Ore treated (‘000 tonnes)
            166       148       178       172       153       664  
Average ore grades:
                                                       
Gold (g/t)
            4.44       4.57       4.85       4.86       5.20       4.69  
Silver (g/t)
            562       624       533       416       465       530  
Zinc (%)
            9.5       9.1       9.6       10.3       10.3       9.7  
Lead (%)
            3.6       3.8       3.7       3.5       3.7       3.6  
Metals produced in concentrates:
                                                       
Gold (‘000 ounces)
            16       15       19       18       16       68  
Silver (‘000 ounces)
            2,371       2,316       2,287       1,672       1,668       8,646  
Zinc (‘000 tonnes)
            12.5       10.6       13.7       13.9       12.3       50.8  
Lead (‘000 tonnes)
            4.2       3.9       4.6       4.3       4.0       17.0  
 
                                                       
Rawhide mine (b)
    51.0 %                                                
Nevada, US
                                                       
Metals produced in doré:
                                                       
Gold (‘000 ounces)
            5       6       4       4       3       19  
Silver (‘000 ounces)
            51       54       34       21       26       160  
 
(a) In February 2008 Rio Tinto reached agreement for the sale of Greens Creek and on 5 March 2008 the Group completed the sale of its interest in the joint venture to its Cortez partner. Cortez production data are shown up to that date.
 
(b) Mining operations were completed in October 2002 and processing of stockpiled ores was completed in May 2003. Residual gold and silver production continues from the leach pads.
 
 
                                                       
Kennecott Utah Copper
                                                       
Barneys Canyon mine (a)
    100.0 %                                                
Utah, US
                                                       
Gold produced (‘000 ounces)
            2       3       3       2       2       11  
 
                                                       
 
(a) Mining operations ceased in the first quarter of 2002. Gold continues to be recovered from leach pads.
 
                                                       
Bingham Canyon mine
    100.0 %                                                
Utah, US
                                                       
Ore treated (‘000 tonnes)
            11,922       12,499       10,988       12,116       10,867       47,525  
Average ore grade:
                                                       
Copper (%)
            0.56       0.53       0.52       0.51       0.49       0.53  
Gold (g/t)
            0.43       0.42       0.36       0.31       0.30       0.38  
Silver (g/t)
            3.14       3.07       2.87       2.93       2.43       3.00  
Molybdenum (%)
            0.056       0.050       0.050       0.043       0.050       0.050  
Copper concentrates produced (‘000 tonnes)
            202       234       222       230       193       889  
Average concentrate grade (% Cu)
            26.7       23.6       22.2       23.0       23.0       23.8  
Production of metals in copper concentrates:
                                                       
Copper (‘000 tonnes) (b)
            54.1       55.6       49.5       53.0       44.7       212.2  
Gold (‘000 ounces)
            106       117       86       88       67       397  
Silver (‘000 ounces)
            856       981       757       892       616       3,487  
Molybdenum concentrates produced (‘000 tonnes):
            8.3       6.7       6.2       5.4       6.2       26.6  
Molybdenum in concentrates (‘000 tonnes)
            4.7       3.8       3.5       3.0       3.4       14.9  
Kennecott smelter & refinery
    100.0 %                                                
Copper concentrates smelted (‘000 tonnes)
            272       297       263       272       237       1,103  
Copper anodes produced (‘000 tonnes) (c)
            69.0       73.7       61.8       56.7       49.7       261.2  
Production of refined metal:
                                                       
Copper (‘000 tonnes)
            69.7       67.9       68.7       59.3       52.1       265.6  
Gold (‘000 ounces) (d)
            115       147       128       133       81       523  
Silver (‘000 ounces) (d)
            870       1,014       1,164       1,317       929       4,365  
 
                                                       
(b) Includes a small amount of copper in precipitates.
 
(c) New metal excluding recycled material.
 
(d) Includes gold and silver in intermediate products.
 
Rio Tinto percentage interest shown above is at 31 March 2008. The data represent full production and sales on a 100% basis unless otherwise stated.
     
First quarter 2008 operations review   Page 18

 


 

Rio Tinto operational data
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
Copper and gold (continued)
                                                       
 
                                                       
Northparkes Joint Venture
    80.0 %                                                
New South Wales, Australia Ore treated (‘000 tonnes)
            1,367       1,363       1,264       1,304       1,234       5,297  
Average ore grades:
                                                       
Copper (%)
            1.38       1.01       0.65       0.59       0.49       0.91  
Gold (g/t)
            0.78       0.67       0.50       0.51       0.35       0.62  
 
                                                       
Copper concentrates produced (‘000 tonnes)
            42.2       32.4       21.4       19.6       16.1       115.7  
 
                                                       
Contained copper in concentrates:
                                                       
Saleable production (‘000 tonnes)
            17.2       12.4       7.0       6.6       5.1       43.1  
Sales (‘000 tonnes) (a)
            16.3       13.6       9.5       8.2       2.7       47.6  
 
                                                       
Contained gold in concentrates:
                                                       
Saleable production (‘000 ounces)
            25.6       21.8       15.1       16.3       10.0       78.8  
 
Sales (‘000 ounces) (a)
            19.1       16.2       23.3       16.7       6.0       75.4  
 
(a) Rio Tinto’s 80% share of material from the Joint Venture.                                
 
 
                                                       
Palabora
    57.7 %                                                
Palabora mine
                                                       
South Africa
                                                       
Ore treated (‘000 tonnes)
            2,886       3,025       3,046       3,958       3,181       12,915  
Average ore grade: copper (%)
            0.71       0.70       0.68       0.69       0.71       0.70  
Copper concentrates produced (‘000 tonnes)
            82.1       56.0       48.6       52.5       73.9       239.2  
Average concentrate grade: copper (%)
            27.4       31.5       31.0       30.7       29.9       29.8  
Copper in concentrates (‘000 tonnes)
            22.5       17.6       15.0       16.1       22.1       71.4  
Palabora smelter/refinery
                                                       
New concentrate smelted on site (‘000 tonnes)
            73.6       74.2       73.9       74.1       66.4       295.8  
New copper anodes produced (‘000 tonnes)
            21.2       22.9       24.0       22.7       18.1       90.7  
Refined new copper produced (‘000 tonnes)
            20.8       22.9       24.0       24.0       18.3       91.7  
By-products:
                                                       
Magnetite concentrate (‘000 tonnes)
            262       321       361       363       446       1,306  
Nickel contained in products (tonnes) (a)
            5       12       43       45       42       104  
Vermiculite plant
                                                       
Vermiculite produced (‘000 tonnes)
            50       50       50       50       50       200  
 
                                                       
(a) Nickel production is now reported as contained nickel in product.                            
 
                                                         
Diamonds
                                                       
 
                                                       
Argyle Diamonds
    100.0 %                                                
Western Australia
                                                       
AK1 ore processed (‘000 tonnes)
            2,168       2,178       2,362       1,917       1,549       8,625  
AK1 diamonds produced (‘000 carats)
            3,470       4,414       4,865       5,995       2,172       18,744  
 
 
                                                       
Diavik Diamonds
    60.0 %                                                
Northwest Territories, Canada
                                                       
Ore processed (‘000 tonnes)
            520       643       656       581       435       2,400  
Diamonds recovered (‘000 carats)
            2,585       3,291       3,123       2,944       1,785       11,943  
 
 
                                                       
Murowa Diamonds
    77.8 %                                                
Zimbabwe
                                                       
Ore processed (‘000 tonnes)
            30       46       55       72       88       203  
Diamonds recovered (‘000 carats)
            15       31       40       59       67       145  
 
Rio Tinto percentage interest shown above is at 31 March 2008. The data represent full production and sales on a 100% basis unless otherwise stated.
     
First quarter 2008 operations review   Page 19

 


 

Rio Tinto operational data
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
Iron ore and iron
                                                       
 
                                                       
Rio Tinto Iron Ore
                                                       
 
                                                       
Pilbara Operations
                                                       
Western Australia
                                                       
Saleable iron ore production (‘000 tonnes):
                                                       
Hamersley — Paraburdoo, Mount Tom Price, Marandoo, Yandicoogina, Brockman and Nammuldi
    100.0 %     20,161       24,617       23,990       25,799       23,731       94,567  
Hamersley — Channar
    60.0 %     2,641       2,905       2,589       2,413       2,474       10,549  
Hamersley — Eastern Range
    (a )     2,166       1,670       1,562       1,535       1,801       6,932  
Hope Downs (b)
    50.0 %                       64       1,076       64  
Robe River — Pannawonica
    53.0 %     6,168       6,901       5,608       6,812       6,811       25,489  
Robe River — West Angelas
    53.0 %     6,020       6,178       6,432       7,393       6,753       26,023  
             
Total production (‘000 tonnes)
            37,156       42,271       40,180       44,016       42,646       163,624  
             
 
                                                       
             
Total sales (‘000 tonnes) (c)
            34,851       41,340       40,444       44,465       42,691       161,100  
             


(a) 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) Hope Downs started production in the fourth quarter of 2007

(c) Sales represent iron ore exported from Western Australian ports.
 
 
                                                       
Iron Ore Company of Canada
    58.7 %                                                
Newfoundland & Labrador and Quebec in Canada
                                                       
Saleable iron ore production:
                                                       
Concentrates (‘000 tonnes)
            82       613       723       505       360       1,923  
Pellets (‘000 tonnes)
            2,325       2,334       3,323       3,324       3,249       11,306  
Sales:
                                                       
Concentrate (‘000 tonnes)
            436       296       820       855       262       2,407  
Pellets (‘000 tonnes)
            1,791       2,727       3,327       3,146       2,547       10,991  
 
 
                                                       
Rio Tinto Brasil
                                                       
Corumbá mine
    100.0 %                                                
Mato Grosso do Sul, Brazil
                                                       
Saleable iron ore production (‘000 tonnes) (a)
            460       424       528       365       508       1,777  
Sales (‘000 tonnes)
            347       245       401       112       369       1,105  
 
(a) Production includes by-product fines.                                








 
HIsmelt®
    60.0 %                                                
Western Australia
                                                       
Pig iron production (‘000 tonnes)
            21       0       49       45       18       115  
 
Rio Tinto percentage interest shown above is at 31 March 2008. The data represent full production and sales on a 100% basis unless otherwise stated.
     
First quarter 2008 operations review   Page 20

 


 

Rio Tinto operational data
                                                         
                                                    FULL  
    Rio Tinto     1Q     2Q     3Q     4Q     1Q     YEAR  
    interest     2007     2007     2007     2007     2008     2007  
 
Salt
                                                       
 
                                                       
Rio Tinto Minerals — salt (a)
    68.4 %                                                
Western Australia
                                                       
Salt production (‘000 tonnes)
            1,719       1,476       2,165       2,467       1,840       7,827  
 
 
(a) Rio Tinto increased its shareholding in Rio Tinto Minerals — salt to 68.4% at the beginning of July 2007.
 
 
                                                       
Talc
                                                       
 
                                                       
Rio Tinto Minerals — talc
    100.0 %                                                
Australia, Europe, and North America
                                                       
Talc production (‘000 tonnes)
            352       326       318       284       342       1,281  
 
Titanium dioxide feedstock
                                                       
 
                                                       
Rio Tinto Iron & Titanium
    100.0 %                                                
Canada and South Africa
                                                       
(Rio Tinto share)
                                                       
Titanium dioxide feedstock production (‘000 tonnes)
            351       367       356       384       356       1,458  
 
Uranium
                                                       
 
                                                       
Energy Resources of Australia Ltd
                                                       
Ranger mine
    68.4 %                                                
Northern Territory, Australia
                                                       
Production (‘000 lbs U3O8)
            2,204       3,269       2,895       3,346       2,940       11,713  
 
 
                                                       
Rössing Uranium Ltd
    68.6 %                                                
Namibia
                                                       
Production (‘000 lbs U3O8)
            1,884       1,417       1,641       1,773       1,947       6,714  
 
Rio Tinto percentage interest shown above is at 31 March 2008. The data represent full production and sales on a 100% basis unless otherwise stated.
     
First quarter 2008 operations review   Page 21

 


 

Index to operational data
                     
        Page        
Aluminium
                   
 
                   
Rio Tinto Alcan
                   
- Alma
  Canada     15          
- Alouette (Sept-Iles)
  Canada     15          
- Alucam (Edea)
  Cameroon     15          
- Anglesey Aluminium
  UK     15          
- Arvida
  Canada     15          
- Awaso
  Ghana     14          
- Beauharnois
  Canada     15          
- Becancour
  Canada     15          
- Bell Bay
  Australia     15          
- Beyrede
  France     14          
- Boyne Island
  Australia     15          
- Brockville
  Canada     14          
- Dunkerque
  France     15          
- Gardanne
  France     14          
- Gove
  Australia     14          
- Grande-Baie
  Canada     15          
- Jonquiere
  Canada     14          
- ISAL (Reykjavik)
  Iceland     15          
- Kitimat
  Canada     15          
- La Bathie
  France     14          
- Lannemezan
  France     15          
- Laterriere
  Canada     15          
- Lochaber
  UK     15          
- Lynemouth
  UK     15          
- Ningxia (Qingtongxia)
  China     15          
- Porto Trombetas (MRN)
  Brazil     14          
- Queensland Alumina
  Australia     14          
- Sangaredi
  Guinea     14          
- Sebree
  USA     15          
- Shawinigan
  Canada     15          
- Sao Luis (Alumar)
  Brazil     14          
- SORAL (Husnes)
  Norway     15          
- St-Jean-de-Maurienne
  France     15          
- Teutschenthal
  Germany     14          
- Tiwai Point
  New Zealand     15          
- Tomago
  Australia     15          
- Weipa
  Australia     14          
- Yarwun
  Australia     14          
 
                   
Borates
                   
 
                   
Rio Tinto Minerals — borates
  US     15          
Boron
  US     15          
Tincalayu
  Argentina     15          
 
                   
Coal
                   
 
                   
Rio Tinto Coal Australia:
  Australia     16          
- Bengalla
  Australia     16          
- Blair Athol
  Australia     16          
- Hail Creek
  Australia     16          
- Hunter Valley Operations
  Australia     16          
- Kestrel
  Australia     16          
- Mount Thorley Operations
  Australia     16          
- Warkworth
  Australia     16          
Rio Tinto Energy America:
  US     16          
- Antelope
  US     16          
- Colowyo
  US     16          
- Cordero Rojo
  US     16          
- Decker
  US     16          
- Jacobs Ranch
  US     16          
- Spring Creek
  US     16          
 
                   
Copper
                   
 
                   
Escondida
  Chile     17          
Freeport-McMoRan Copper & Gold:
  US     17          
- Grasberg
  Indonesia     17          
Kennecott Utah Copper:
  US     18          
- Bingham Canyon
  US     18          
- Kennecott smelter and refinery
  US     18          
Northparkes
  Australia     19          
Palabora mine and smelter
  South Africa     19          
 
                   
Diamonds
                   
 
                   
Argyle Diamonds
  Australia             19  
Diavik Diamonds
  Canada             19  
Murowa Diamonds
  Zimbabwe             19  
 
                   
Gold
                   
 
                   
Escondida
  Chile             17  
Freeport-McMoRan Copper & Gold:
  US             17  
- Grasberg
  Indonesia             17  
Kennecott Utah Copper:
  US             18  
- Barneys Canyon
  US             18  
- Bingham Canyon
  US             18  
Kennecott Minerals:
  US             18  
- Greens Creek
  US             18  
- Rawhide
  US             18  
Northparkes
  Australia             19  
 
                   
Iron Ore
                   
 
                   
Corumbá
  Brazil             20  
Hamersley:
  Australia             20  
- Brockman
  Australia             20  
- Channar
  Australia             20  
- Eastern Range
  Australia             20  
- Marandoo
  Australia             20  
- Mt Tom Price
  Australia             20  
- Nammuldi
  Australia             20  
- Paraburdoo
  Australia             20  
- Yandicoogina
  Australia             20  
Hope Downs
  Australia             20  
Iron Ore Company of Canada
  Canada             20  
Robe River:
  Australia             20  
Pannawonica
  Australia             20  
West Angelas
  Australia             20  
 
                   
Lead/Zinc
                   
 
                   
Kennecott Minerals:
  US             18  
- Greens Creek
  US             18  
 
                   
Molybdenum
                   
 
                   
Bingham Canyon
  US             18  
 
                   
Pig Iron
                   
 
                   
HIsmelt®
  Australia             20  
 
                   
Salt
                   
 
                   
Rio Tinto Minerals — salt
  Australia             21  
 
                   
Silver
                   
Bingham Canyon
  US             18  
Escondida
  Chile             17  
Grasberg
  Indonesia             17  
Greens Creek
  US             18  
 
                   
Talc
                   
 
                   
Rio Tinto Minerals — talc
  Australia/Europe/                
 
  US/Canada             20  
 
                   
Titanium dioxide feedstock
                   
 
                   
QIT mine and smelter
  Canada             21  
Richards Bay Minerals mine and smelter
  South Africa             21  
 
                   
Uranium
                   
 
                   
Energy Resources of Australia
  Australia             21  
— Ranger
  Australia             21  
Rössing
  Namibia             21  
     
First quarter 2008 operations review   Page 22