Rio Tinto Group
Rio Tinto Group
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Contract awards for maintenance and capital works projects totalling $A130M from majors BHP, Rio Tinto and Roy Hill have built the total order book for Australian multi-disciplinary construction and engineering group Civmec to $1.05B.
The impact of COVID-19 counter-measures on labour recruitment and retention in the Australian mining sector has slowed completion of global miner Rio Tinto’s Gudai-Darri iron ore mine development and forced a cut in its FY2021 export forecasts.
The tightening labour market in Western Australia’s critical mining sector is costing Rio Tinto around 5Mt of iron ore production for the year to Dec 2021, due to delays in the completion of its new Gudai-Darri greenfield mine and Robe Valley brownfield mine replacement.
51% Rio Tinto subsidiary Turquoise Hill Resources’ Oyu Tolgoi operation in Mongolia has lifted Sept 2021 qtr (Q3 21) copper-gold-silver production and maintained FY/CY 21 output.
Copper output jumped 14% on Q2 21 to 41,935t, gold was up 16% to 130,799oz and silver rose to 249,000oz from 235,000oz. Mill throughput of 9.34Mt in was in line with Q2 21.
Copper and gold FY/CY guidance remains within 150,000t-180,000t Cu and Au to 400,000oz-480,000oz respectively.
Global mining major Rio Tinto has declared force majeure on some of its copper cathode contracts after shutting the smelter at its Kennecott mine in Utah, US, following an accidental release of molten copper on Sept 21, Reuters reports.
Work needed to safely restart operations at the smelter is being assessed. Kennecott produced 82,100t of refined copper in the 1st half of 2021.
Australian uranium veteran ERA has warned it's facing blowouts in the costs and timeline of rehabilitating the environmentally sensitive site of nearly 40 years of uranium mining at its Ranger project, nestled inside a national park and on Aboriginal traditional land in the Northern Territory.
The company, majority owned by Anglo Australian major Rio Tinto, says it is still working out the full extent of the overruns.
The improving security situation, supported by national and provincial governments, has enabled Rio Tinto to begin the process of restarting operations at its Richards Bay Minerals operation on the northern coast of KwaZulu-Natal in South Africa, two months after it halted all mining and smelting activities due to an upsurge in violent attacks.
CE Minerals Sinead Kaufman says its collaboration and constructive dialogue with the mine’s host communities and their traditional authorities have helped Rio Tinto to restart operations.
(HEALTH & SAFETY)
“Pop-up” vaccination hubs at major airports run by mining companies and catering initially for Australia’s fly in, fly out workforce, quickly expanding to on-the-ground centres treating residents and remote community members within the mining regions, are the next phase in the mining sector’s fight to keep COVID out of minesites.
Rio Tinto CEO Jakob Stausholm has credited the stimulus spending by world governments in response to the COVID-19 pandemic for the UK-Australian miner’s record financial results for the six months to end-June (H1FY2021).
While the global mining giant focused on safely running its world-class assets and supplying its customers, Stausholm says, the stimulus spending has driven strong demand for commodities at a time of constrained supply and resulted in significant spikes in most prices.
Seventeen years after its geologists made the first discovery of the unique mineral jadarite in western Serbia, Rio Tinto has committed to invest $2.4B on becoming a top 10 global supplier of lithium carbonate to the booming EV and energy storage industries.