Rio Tinto Group
Rio Tinto Group
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Global iron ore giant Rio Tinto has acknowledged a 13Mt shortfall in its FY2019 Pilbara production in Western Australia due to “mine operational challenges” particularly at its Greater Brockman hub, resulting in it lowering shipping guidance to 320-330Mt from 333-343Mt previously.
The lower production will also impact unit costs.
Rio Tinto says the shortfall results from the need to produce a higher proportion of lower-grade products in part to protect the quality of its flagship Pilbara Blend.
The pace of work continues to build at Rio Tinto’s Winu project in the Paterson Province of Western Australia, where it announced the discovery of mineralisation over a large area in Feb 2019.
The global mining giant has released its second round of drilling results showing still more relatively wide intersections of vein-style copper mineralisation associated with gold and silver.
NRW Holdings has picked up another significant OEM equipment package for Rio Tinto’s $US2.6B Koodaideri Iron Ore Project in Western Australia’s Pilbara for the supply of 3 large apron feeders, 11 slide gates and 2 belt feeders worth over $A18M.
West Australian contractor NRW has had more success at Rio Tinto’s $US2.6B Koodaideri iron ore development in the Pilbara region with the award of a contract worth over $A137M for rail and associated road works.
The Koodaideri Rail Formation South Earthworks project comprises about 73km of new rail embankment, new mine access road and associated road works along the rail alignment. Site work starts in August, and will take about 70 weeks.
A disastrous three month period that followed the Brumandinho tailings dam rupture in January has resulted in Vale sustaining significant reductions in output and sales of iron ore, coal, nickel and copper in the March quarter.
Global mining major Rio Tinto is buying a fleet of autonomous trucks and other mining equipment from Caterpillar for its new Koodaideri iron ore mine in Western Australia, its 1st intelligent mine, Reuters reports.
Caterpillar will supply a fleet of 20 autonomous 793F trucks, as well as 4 autonomous blast drills for the mine, which Rio is developing for $US2.6B with 1st production expected to start by the end of 2021.
It avoided the physical damage that its neighbour and rival Rio Tinto sustained, but BHP Iron Ore has locked in a 3.5% loss of production and over 6.5% increase in unit costs for the year to end-June due to localised flooding and the processing of wet material due to tropical cyclone Veronica hitting its Pilbara port and rail network in Western Australia last month.
With additional impacts, Rio Tinto lowered its FY2019 guidance by under 2%.
Rio Tinto has trimmed its FY2019 iron ore export forecast by nearly 2% due to the impact on March qtr (Q1) shipments from its Pilbara system in Western Australia due largely to the impact of cyclone Veronica last month and a fire at its Cape Lambert shipping facility in Jan.
The world No 2 iron ore producer expects full year shipments to be 333-343Mt, down from its prior guidance of 338-350Mt.
Q1 shipments fell to 69.1Mt, from 87.4Mt in Q4FY2018. The first qtr events are also expected to impact June qtr iron ore results.
Rio Tinto sticks with engineer WorleyParsons as EPCM contractor with the target of developing the world’s first ‘intelligent mine’ at its 43Mtpa Koodaideri project in Western Australia’s Pilbara region. John Feary reports
Rio Tinto has awarded the engineering, procurement and construction management contract for its $US2.6B Koodaideri iron ore production hub in Western Australia’s Pilbara region to WorleyParsons.
The major contract award follows the completion of Koodaideri’s detailed engineering study, with extensive work by WorleyParsons on the use of “intelligent mine” technology.
The contractor says it will use data-centric engineering processes to also produce a digital asset for Rio Tinto.