Rio Tinto Group
Rio Tinto Group
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The Mar 2021 qtr (Q1 21) mining of Phase 4b and Phase 6b of Turquoise Hill Resources’ Oyu Tolgoi operation in Mongolia has moved deeper into the higher grade ore zone lifting copper production to 45,449t, up 9% on Q4 20, gold output 66% better to 145,656oz and silver to 255,000oz from 231,000oz.
Rio Tinto is maintaining full year production guidance at its West Australian Pilbara iron ore operations despite reduced March qtr (Q1) output attributed to wet weather and labour shortages affecting maintenance and fixed plant reliability, capped by last month’s tropical cyclone Seroja.
Total Q1 production was 76.4Mt, down from 86Mt in the previous period, and shipments also declined to 77.8Mt (Q4FY2020: 88.9Mt). The global iron ore No 2 says it will prioritise maintenance of the mine processing facilities for the rest of the year.
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Shortages of truck drivers because of border closures and fears about weak health precautions by bulk shipping operators could threaten the hitherto outstanding success of Western Australia’s iron ore mining sector in protecting their workers and the national economy from the worst effects of COVID-19.
Falling road transport capacity because of border closures and fears about weak health precautions by bulk shipping operators could threaten the hitherto outstanding success of Western Australia’s iron ore mining sector in protecting their workers and the national economy from the worst effects of COVID-19.
It’s kiss and make up time for Rio Tinto and engineer Monadelphous Group over a fire at the global miner’s Cape Lambert sinter fines processing facility in the Western Australian Pilbara region in January 2019.
Rio Tinto launched a writ of summons in June 2020 against Monadelphous, which was undertaking maintenance shutdown work at the time of the fire. Monadelphous denied liability and contested the claim for $A35M in material damage costs and $458M loss of business and work-around solutions.
Rio Tinto has further expanded the exploration program at the Citadel gold-copper-silver-tungsten project in Western Australia’s exciting Paterson province, increasing its 2021 budget to $A24.5M from $13.8M and raising its interest in the JV with Antipa Minerals to 65% from 51%.
The boosted 19,000m drill campaign is targeting mineralisation and resource extensions at the Calibre and Magnum gold-copper deposits while also testing greenfield targets over the 1,300sqkm tenement package 400km E of Port Hedland.
Rio Tinto and its subsidiary Turquoise Hill Resources have reached a ‘constructive and equitable agreement’ to end their long dispute over the funding of the underground development of the Oyu Tolgoi copper-gold mine in Mongolia.
Rio Tinto and its subsidiary Turquoise Hill Resources have finally reached agreement on funding the underground expansion of the Oyu Tolgoi copper-gold mine in Mongolia, removing a barrier to the growth of what’s expected to become one of the world’s largest copper mines.
The end of the lengthy stand-off between the two companies comes just over a month after then-Turquoise Hill CEO Ulf Quellman quit under intense pressure from Rio Tinto.
Leading mining services provider Mineral Resources’ CSI Mining Services has won the out load and haul, drill and blast, and short-term mine planning contracts for Rio Tinto’s Brockman 2 iron ore mine in Western Australia’s Pilbara region.
Rio Tinto’s Iron Ore Company of Canada has declared force majeure on contracts and is working with customers to minimise disruption following a fire at reclaimer No 2 at its Sept-Îles port facilities in Quebec, the export outlet for its Labrador City mine and processing plant.
The global miner holds 58.7% of IOC in a joint venture with Mitsubishi (26.2%) and Labrador Iron Ore Royalty Income Corp (15.1%).