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Mijnen,Rio...bhp

1. voda 3 april 2013 16:59

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   Rio Tinto installed a new ship loader in Western Australia
   
   Rio Tinto announced that it has installed a new shiploader with a nominal 55 million tonne annual capacity on the new wharf at Cape Lambert in Pilbara, Western Australia.
   
   Rio Tinto stated that the shiploader is a major component of infrastructure in its Pilbara expansion program, indicating that the company is progressing rapidly towards reaching its interim target of 290 million tonne annual capacity for the Pilbara operations by the third quarter of the current year.
   
   With the installation of the shiploader, all the major coastal infrastructure for the expansion program is now safely on site and in place. All approvals for the expansion to 290 million tonne per year are in place, and all key rail and port approvals for the 360 million tonne per year stage which is expected to be completed in the first half of 2015 are completed.
   
   Once all works have been completed the Cape Lambert port will have the largest export capacity of the three iron ore port assets owned by Rio Tinto.
   
   Source - Today's Daily Extract
   
   
2. voda 4 april 2013 16:40

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   Rio Tinto hires Deutsche Bank for selling stake in Coal & Allied - WSJ
   
   The Wall Street Journal reported that Rio Tinto has hired Deutsche Bank to help sell Australian coal assets worth billions of dollars, as it seeks to cut costs and exit non core and under performing businesses.
   
   WSJ, citing unnamed people familiar with the matter, reported that Rio Tinto is seeking to sell up to 29% of its Coal and Allied Industries unit
   
   According to the WSJ, Rio Tinto owns 80% of Coal & Allied, which owns several coal mines in New South Wales and wants to cut its stake to as low as 51%
   
   Rio Tinto and Japan's Mitsubishi Corp bought Coal & Allied Industries in late 2011 in a deal valuing it at AUD 10.6 billion.
   
   WSJ said in a separate report that Rio is also seeking a buyer for its controlling stakes in the Clermont and neighboring Blair Athol mines in Queensland state for more than AUD 1 billion, which was closed by Rio Tinto in November.
   
   Clermont holds 177 million tonnes of thermal coal, with a maximum capacity of up to 12.2 million tonnes a year and has an expected life of 17 years
   
   Source - Reuters
   
   
3. voda 6 april 2013 16:54

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   Rio Tinto adds Australia copper mine to for sale list
   
   Reuters reported that Rio Tinto has hired investment bank Macquarie to sell its majority stake in the Northparkes copper mine in Australia adding to a growing list of planned divestments.
   
   Northparkes, in New South Wales is the latest of the global miner's assets to be earmarked for sale as Rio's new chief executive Sam Walsh pushes ahead with aggressive cost cuts and the company battles to meet its promise of reaping significant cash proceeds from divestments this year.
   
   Rio Tinto and Macquarie declined to comment on the sale. Rio's 80% stake in the mine accounted for less than 10% of group copper production last year and amounts to a fraction of a copper division dominated by the potential of giant assets like Escondida in Chile and Oyu Tolgoi in Mongolia.
   
   The mine has been valued by analysts at USD 300 million to USD 400 million modest in the context of Rio's portfolio and its debts. A sale, though would be welcome as Rio targets USD 5 billion cumulative reduction in costs by the end of 2014 and with the miner also under pressure from rating agencies to cut back a debts which more than doubled to USD 19.3 billion in 2012.
   
   Standard & Poor's revised Rio's outlook to negative in February, outlining a one in three chance of the company's rating being lowered in the next 12 to 18 months.
   
   Northparkes joins a long list of other operations already on the block, including Rio's diamond arm and aluminium assets the company has been reviewing for over a year. Rio is also selling a majority stake in Canada's largest iron ore producer and has appointed advisers sell to thermal coal assets.
   
   The source familiar with the matter however the sale of Northparkes and the potential reduction of Rio's 80% holding in Coal & Allied to just over a majority said that it was unlikely any of the assets would find a buyer quickly.
   
   The source said that "I am not sure anyone is desperate to own these assets. More operations could be added to the list unless sales are completed soon. The minority 20% stake in Northparkes is owned by Japan's Sumitomo Group.
   
   Source - Reuters
   
4. voda 6 april 2013 16:55

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   BHP expects Eskom to honour power deals
   
   Reuters reported that BHP Billiton expects South African power utility Eskom to honour deals that are letting the mining giant buy electricity for its smelters at just over half the cost of production.
   
   Eskom, which needs to generate cash to build new power stations to meet rising demand in Africa's biggest economy, has been trying to renegotiate the long term preferential deals since 2009.
   
   It has now asked the energy regulator to review the contracts which are linked to the price of aluminium and the rand and dollar exchange rate and which contributed in large part to Eskom's annual loss of ZAR 9.7 billion in 2009.
   
   Mr Xolani Mkhwanazi chairman of BHP Billiton South Africa said that the contracts were negotiated in good faith on a risk sharing basis and followed recognized international models. BHP Billiton expects our contracts to be honoured.
   
   The contracts with BHP, which consumes 9% of Eskom's power output date from the early 1990s when there was abundant supply in South Africa, the legacy of a government policy of underpricing power to attract industry.
   
   Mr Mkhwanazi defended the deals saying in past years the contracts had benefited Eskom as well. Over the period of the contracts, BHP Billiton for many years paid above the standard electricity tariff for industry. As a result of these contracts, Eskom has generated significant additional revenues and benefits, which have contributed to the cost of establishing the electricity generation and transmission infrastructure in South Africa.
   
   Source - Reuters
   
5. voda 8 april 2013 17:14

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   Rio Tinto explores for Uzbek copper
   
   Central Asia reproetd that Australian British mining giant Rio Tinto has begun exploring for copper at the Gava prospect in Namangan Oblast of Uzbekistan.
   
   The Uzbek State Geology and Mineral Resources Committee granted Rio Tinto 5 year exploration license last December.
   
   Uzbekistan has identified about 900 copper deposits but mining is taking place at only three sites all in Almalyk District, Tashkent Oblast.
   
   Source - Central Asiaonline.com
   
6. voda 10 april 2013 17:03

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   BHP plans copper concentrate output at 2 Chile mines
   
   BHP Billiton Limited plans to start producing Copper concentrates at its Spence mine in northern Chile where it could produce up to 200,000 tonnes a year of the raw material for sale to the market in a move to expand capacity and adapt operations to changes in Copper Ore qualities at the site.
   
   Mr Peter Beaven BHP Billiton’s President of Base Metals said that last week the company is considering installing crushing and concentrating equipment at Spence whose final product is copper cathode, a semi processed form of the metal produced by leaching or electrolysis. A move into copper concentrate production is also under study at BHP’s Cerro Colorado facility which currently also produces cathodes only. The main obstacle is securing capital from within the organization to go ahead with the project.
   
   Chile, the world’s biggest Copper producing country is facing changes in ore types which threaten to significantly boost mining costs. Oxide containing Copper ore which is suitable for higher value cathode production and is nearer the surface is depleting at some mine sites after years of mining, leaving sulphate containing ore which is deeper down. This is suitable only for concentrates production as it cannot be directly treated by solvent extraction or electrolysis.
   
   BHP Billiton grouped together its wholly owned Spence and Cerro Colorado operations in Y 2010 to form its Pampa Norte operation which comprises the two open pit mines and associated processing facilities. Extending operations to use sulphate ore would make Pampa Norte into a 300,000 tonne a year cathode and concentrate facility as 100,000 tonnes a year of Copper cathode would continue to be made from the remaining oxide ore.
   
   The move would also tally with changes in buying practices by major copper consumer China, which is set to import more copper concentrates and fewer cathodes as it boosts domestic smelting capacity.
   
   Mr Beaven said that “With a concentrator in Spence, we could get another 200,000 tons out of it it would be like a mini Escondida with concentrate and cathode going at the same time. It is possible that we could also do that at Cerro Colorado but we are still in the study phase. There is no target date for this at the moment, and there is a huge fight for capital within our company.”
   
   Source - Livetradingnews.com
   
7. voda 11 april 2013 17:01

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   Rio Tinto waits for green light on Weipa mine expansion
   
   Cairns reported that Rio Tinto Alcan expects construction of its USD 1.3 billion bauxite mine expansion near Weipa to start this year.
   
   The company has delivered its final environment impact statement to the Federal Government and is hopeful of approval of South of Embley for a construction start before the wet season begins in November.
   
   Mr Tony Burke Federal Environment Minister has 40 working days to assess the EIS, which gives him until May 17th 2013. The company then needs to get board approval to proceed.
   
   While Rio Tinto Alcan is not commenting on the EIS it is anticipated that construction would commence in or about 2013 subject to the grant of relevant environmental or other regulatory approvals and the determination of internal investment approvals for the project by Rio Tinto.
   
   Project related bauxite shipping would be expected to commence in or about 2016 (or approximately three years after the commencement of construction) subject to the grant of relevant environmental or other regulatory approvals, the determination or internal investment approvals for the Project by Rio Tinto and the construction schedule.
   
   The EIS said during construction 950 people would be hired on the USD 1.32 billion project, injecting USD 264 million into the Weipa economy and USD 527.9 million in the Far North. At full production of 50 million tonnes a year 1346 people including contractors would be employed, with USD 1.5 billion being spent each year across Australia.
   
   Source - Cairns.com
   
8. voda 12 april 2013 16:34

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   Chinese growth to slow down to 6pct - BHPB
   
   The Telegraph reported that growth in China, the largest consumer of commodities, will drop by a couple of percentage points.
   
   At the same time, BHP and rivals Rio Tinto and Fortescue are set to boost their iron ore output. The timescales involved in mining means that growth projects initiated during the commodity price boom may only now be coming into production.
   
   Mr Graham Kerr chief financial officer of BHP said that "What you have seen over the last couple of years in China, I don't expect the double digit growth rates to continue. Their moderated growth is around the 7% to 8% mark for the next couple of years, then trending down toward the 6% mark."
   
   China's economy grew 7.8% in 2012 its weakest rate in years and analysts it expect to grow by around 8.1% over 2013. Mr Kerr was speaking at the Bloomberg Australia Economic Summit in Sydney.
   
   Separately, BHP Billiton ended a contract thought to be worth up to USD 270 million with Australia's Leighton Holdings two years early as a cost cutting measure.
   
   Source - www.telegraph.co.uk
   
9. voda 12 april 2013 16:42

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   Mongolia copper production may start in summer - Rio Tinto
   
   Bloomberg reported that Rio Tinto Group is aiming to start commercial production at its Oyu Tolgoi copper project in Mongolia in the northern Hemisphere summer as talks advance with the government on permitting.
   
   Mr Jean Sebastien Jacques head of the London based company’s copper unit said that Rio Tinto is in a clarification process with the government over the project that will be built over two stages.
   
   Oyu Tolgoi, whose development costs and schedule have been the subject of debate in Mongolia is the primary driver of the country’s USD 10 billion economy and by 2020 is expected to make up one third of Mongolia’s gross domestic product. Rio controls 66% of the USD 6.6 billion project with the remainder controlled by the government.
   
   Mr Jacques said that “Subject to ongoing support from the government we are cautiously optimistic that we will have first commercial production during the summer. There is no dispute whatsoever as we speak.”
   
   He said that Rio is positive on long term prospects for the copper market as China and developed nations continue to demand more of the metal used in power cables and electrical wire and new supply faces mounting challenges. People throughout the world want to have iPads and iPhones and you need lots of copper to do so.
   
   Mr Davaajav Gankhuyag mining minister of Mongolia said that the mine in the South Gobi desert is operating on MoM budget and requires approval from the board of directors. The board agreed on March 29 to continue to fund the project through April.
   
   Source - Bloomberg
   
10. voda 12 april 2013 16:45

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    Mr Walsh puts the squeeze on Rio Tinto
    
    Heraldsun reporetd that new Rio Tinto chief Mr Sam Walsh has ratcheted up his cost cutting drive putting almost USD 700 million in US expansion plans under review.
    
    The US pullback comes as BHP Billiton axes a contract with Leighton Holdings, bringing in a smaller private company to do the work at a lower price.
    
    Leighton, which provides mining services revealed that the move at a coal mine in Queensland would see USD 260 million cut from its order book. Rio is reviewing USD 400 million in spending on a machinery upgrade at a copper mine in Salt Lake City, Utah.
    
    A further USD 300 million worth of capital expenditure slated for an expansion of an nickel and copper mine in Michigan also hangs in the balance. Rio has already spent USD 400 million on the 2 mines.
    
    Mr Walsh who has been in the top job for less than three months is aiming to cut USD 5 billion from the company's bottom line by the end of next year. The latest savings pitch comes after the company hired Deutsche Bank to help sell is Australian coal assets. It has also flagged a halt to a USD 500 million program to upgrade an aluminium smelter in Iceland.
    
    Rio tumbled to a USD 2.9 billion loss last financial year after writing more than USD 14 billion off its coal and aluminium assets. Australia's two largest mining companies are both in deep cost cutting mode. BHP cut its annual costs by USD 1.9 billion in the H1 of the financial year.
    
    Source - Heraldsun.com
    
12. voda 15 april 2013 16:48

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    USD 250 billion glut pressures on iron ore
    
    The world's biggest iron ore producers are planning USD 250 billion of new mines, threatening to deepen a price slump for the commodity already forecast to drop for at least the next 3years.
    
    According to Liberum Capital Limited, mining companies are facing growing investor pressure to defer or cancel projects to stem price declines. Rio Tinto Group, the second largest iron ore exporter, will decide on one of the biggest industry expansions in Western Australia in the H2. A decision to delay would boost its earnings in 2015 by USD 3.7 billion.
    
    The price of iron ore, the most shipped commodity after oil, more than tripled in the past decade, encouraging the biggest mining companies to boost output. That was before a surge in Chinese steel output that drove the bull market through 2011 started to wane. Given iron ore operations made up 78% of Rio's earnings last year and more than 90% at Brazil's Vale SA producers are being forced to review plans.
    
    Mr Paul Gait London based analyst at Sanford C Bernstein & Company said that "It's the most important issue the mining industry is facing today whether or not to collectively act to destroy the single greatest source of value generation. Getting this right and not repeating the mistakes of the past is absolutely key."
    
    According to Credit Suisse Group AG, over the last three years, 80% of the time iron ore prices have fallen European mining companies have underperformed.
    
    Mr Evy Hambro manager of BlackRock Inc's USD 10 billion World Mining Fund which includes investments in the four biggest iron ore exporters said that “We've been putting as much pressure as possible on management teams to rein in some of the over enthusiastic investing of the cash flow they've been making over the last few years.
    
    Rio has approved a USD 5.9 billion expansion of port and rail facilities in Western Australia to boost export capacity to 360 million tons a year from 290 million tonnes. A decision on the mining part of the expansion is yet to be made.
    
    Mr Greg Lilleyman the head of Rio's operations in Pilbara said that new supplies and slower growth in steel demand will weigh on prices in the H2. In terms of new projects, if prices are lower moving forward than the period we've just come from, they're not going to be easy.
    
    Bernstein's Gait said that BHP, Vale and Rio all need to get with the program here. It's much better for them to preserve the current pricing environment and keep prices high rather than invest billions and billions of dollars of capex simply to chase price downwards.
    
    Source - Metaljunction.com
    
13. voda 16 april 2013 16:39

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    Minder koper Rio Tinto door aardverschuiving
    
    Gepubliceerd op 16 apr 2013 om 08:03 | Views: 1.957
    
    LONDEN (AFN) - De Brits-Australische mijnbouwgroep Rio Tinto zal als gevolg van een aardverschuiving in een Amerikaanse mijn dit jaar aanzienlijk minder koper produceren dan eerder werd aangenomen. Dat maakte het bedrijf dinsdag bekend.
    
    In de Bingham Canyon Mine in de Amerikaanse staat Utah stortte vorige week de noordwestelijke wand grotendeels in. Daarbij kwam naar schatting een landmassa van 150 miljoen ton in beweging. Rio Tinto is nog druk doende met het ontwikkelen van een plan om de productie te kunnen hervatten. Doordat de mijn voor het moment grotendeels is uitgeschakeld, zal de productie van koper dit jaar 225.000 ton lager uitvallen dan verwacht.
    
    Bij de productie van ijzererts zette Rio Tinto in het eerste kwartaal juist een record neer van 48 miljoen ton ondanks een aantal onderbrekingen als gevolgd van tropische stormen. Het concern handhaaft de verwachting dit jaar circa 265 miljoen ton te produceren.
    
14. voda 16 april 2013 16:56

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    Rio and BHP predicted to report weak sales
    
    AAP reporetd that mining giants Rio Tinto and BHP Billiton are expected to post softer iron ore and coal shipment reports after a series of cyclones hit northern Australia earlier this year.
    
    Analysts expect a hefty drop in iron ore shipments during the quarter after ports in the Pilbara region closed in early 2013 as cyclones Narelle and Rusty ripped through the north west of Australia.
    
    Seasonal variations are expected this time of year ahead of an anticipated a boost in shipments in the June quarter due to fewer stoppages. Rio Tinto releases its March quarter production report on Tuesday and BHP is scheduled to report on Wednesday.
    
    UBS analysts said that Rio's Pilbara iron ore production for the March quarter will be 58.2 million tonnes down seven per cent on the previous quarter due to bad weather. Rio, the world's second largest iron ore producer, has been criticised for its near total dependence on the commodity.
    
    UBS predicts BHP Billiton's quarterly iron ore shipments will drop 2% to 39.5 million tonnes on the previous quarter. The March quarter is typically a weaker quarter driven by seasonal weather events and scheduled maintenance.
    
    They noted that overall iron ore shipments from Port Hedland in the March quarter were down on the previous year following a record December quarter in 2012. RBC Capital Markets also believes the cyclone season will have a negative impact on Rio and BHP's iron ore shipments before bouncing back in the June quarter.
    
    RBC analysts said that we would expect shipments and production to improve markedly. Weather issues would be responsible for an eight per cent fall in BHP's metallurgical coal production in the March quarter. Overall we expect an unsurprising quarter from BHP which will likely be impacted by adverse weather conditions in Australia.
    
    Source - AAP
    
15. voda 16 april 2013 16:58

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    BHP pressing pedal on gas output as iron ore demand slows
    
    Reuters reported that mining and petroleum company BHP Billiton is set to report a rise in quarterly output from its petroleum division after producing more gas in the United States in response to higher prices.
    
    The increase, by as much as 4 percent over the previous quarter to about 67 million barrels oil equivalent will keep BHP on track to meet its fiscal 2013 production forecast of 240 mmboe.
    
    It will also show the world's biggest diversified miner by revenue is moving ahead with a strategy of relying more on petroleum to offset weakness in iron ore, its No 1 revenue earner.
    
    Iron ore's contribution to revenue fell to 29% in the half year ended December from 31% in the prior 6 months. Petroleum accounted for 21% of BHP's revenues in the latest half year versus 18% in the prior period.
    
    BHP, which will release March quarter production data on April 17 and rival Rio Tinto are both forecast to report a drop in quarterly iron ore output due to shipping interruptions caused by cyclones in Australia. Rio Tinto is releasing production data on April 16.
    
    Uncertainty about global growth and, in particular about China, a top user of iron ore and several other commodities has cast a shadow on the sector as a whole.
    
    Mr Tom Price analyst of UBS said that iron ore prices could halve to as low as USD 70 this year as demand from China falls. Goldman Sachs has cut its forecast for iron ore prices by up to 11% over the next three years due to excess supply and slower steel output in China.
    
    The changing landscape has shifted the focus of investors to margins and profits from production numbers and led to top management changes in a number of commodities producers.
    
    The newly installed chief executives of BHP and Rio Tinto are allocating little funding for new projects outside of iron ore and copper. In BHP's case new energy projects too are looked upon favorably.
    
    Source - Reuters
    
16. voda 17 april 2013 16:14

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    HEARD ON THE STREET: Fusie Glencore en Xstrata tot het eind controversieel
    
    
    AMSTERDAM (Dow Jones)--De kogel is door de kerk. De $67 miljard bedragende fusie tussen Glencore en Xstrata heeft zijn laatste horde genomen, nu Chinese toezichthouders toestemming hebben gegeven voor het samengaan van de twee bedrijven.
    
    Er hangt echter een prijskaartje aan. Zo moet mijnbouwer Xstrata zijn Peruaanse kopermijn Las Bambas van de hand doen aan een koper die China goedkeurt. De mijn zal in 2015 naar verwachting goed zijn voor zo'n 2% van de wereldwijde productie van koperconcentraat. Onder de goedkeuring van de Chinese autoriteiten kan Xstrata Las Bambas echter alleen verkopen, wanneer de projectkosten van meer dan $5 miljard gedekt worden. Anders zal het andere activiteiten moeten afstoten.
    
    De strenge eisen van China illustreren de groeiende invloed van het land op fusies wereldwijd. Het Chinese ministerie van handel verklaarde in zijn beslissing dat de fusie tussen Xstrata en Glencore de concurrentie op het gebied van de koper-, lood- en zinkproductie beperkt en dat het afstoten van activiteiten dus noodzakelijk is voor de goedkeuring. Een verdere toelichting gaven de autoriteiten echter niet.
    
    Waar Xstrata activiteiten moet afstoten, betaalt Glencore een flinke prijs om zelf aan het roer te komen. Het grondstoffenconcern moet Xstrata-CEO Mick Davis GBP4,6 miljoen extra betalen zodat hij per direct opstapt. Eerder zou Davis nog zes maanden aanblijven om het gefuseerde concern te leiden.
    
    Toch zal Glencore-CEO Ivan Glasenberg niet wakker liggen van deze ontwikkelingen.
    
    Hij gaf in het verleden al aan geen voorstander te zijn van dure mijnbouwprojecten als Las Bambas omdat het moeilijk is hier winst uit te halen. Glencore zal er dus niet rouwig om zijn dat Xstrata de mijn verkoopt voordat de fusie plaatsvindt.
    
    Daarnaast onderstreept de afkoopsom voor Davis van in totaal GBP14,2 miljoen dat de fusie eigenlijk een overname is, waarbij alleen de naam van Xstrata nog blijft bestaan. Maar dit omvangrijke bedrag zal Glencore waarschijnlijk gen hoofdbrekens bezorgen, want hierdoor komt Glasenberg wel direct aan het roer van Glencore Xstrata.
    
    En hoewel naast Davis, ook zes andere bestuurders niet terugkeren bij het gefuseerde bedrijf, verwacht Glencore geen exodus van ontevreden Xstrata personeel. Er zou voldoende mankracht overblijven om de werkzaamheden in de mijnen van Xstrata uit te kunnen voeren en mochten er al personeelsproblemen ontstaan, dan komt het bedrijf mogelijk makkelijk aan nieuw personeel omdat er bij concurrenten veel kostenbesparingen doorgevoerd worden waardoor mensen op straat komen te staan.
    
    Dus wat de toekomst ook mag brengen voor Glencore Xstrata, tot nu toe slaagde Glasenberg er nog altijd in, om zelfs met de schijn tegen, tot een positief resultaat te komen.
    
    
    Door Andrew Peaple; vertaald en bewerkt door Marleen Groen; Dow Jones Nieuwsdienst; +31 20 5715 200; marleen.groen@dowjones.com
    
    
17. voda 17 april 2013 16:47

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    Rio Tinto copper production to drop by 30pct
    
    SMH reported that Rio Tinto has revealed the full extent of last week's wall collapse at one of its copper mines in the United States confirming this afternoon that its refined copper production will reduce by close to 30% in 2013.
    
    The impact of the wall collapse at the Bingham Canyon mine in Utah was revealed in Rio's March quarterly results which were reported to the ASX shortly after 3 PM. While iron ore is usually the highlight of Rio's reports, the changes to copper guidance are significant.
    
    Rio said that refined copper production in 2013 would fall by 100,000 tonnes to 205,000. The amount of mined copper will reduce by an estimated 125,000 tonnes to 540,000.
    
    Mr Sam Walsh CEO of Rio Tinto described the impact on copper production as significant. The company produced about 48.2 million tonnes of iron ore from its operations in Canada and the Pilbara which was about 7% lower than the December quarter. That reduction had been expected given that two cyclones blew through the Pilbara during the quarter.
    
    Source - SMH.com
    
18. voda 17 april 2013 16:48

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    Concerns in Chile as copper price collapses
    
    A slowdown in Chinese growth prompts a drop of nearly 5.2% in copper prices as Chile’s most lucrative export reaches its lowest level in a year and a half.
    
    According to Diario Financiero, the price of copper fell more than 5% from around USD 3.40 per pound to USD 3.20 reaching its lowest level since October 2011. The decrease went against predictions made earlier this year.
    
    The red metal’s falling value is directly related to a lacklustre US retail sales index down in March for the second time in 3 months. The weaker international market can also be attributed to slower growth in the Chinese economy which expanded 7.7% in the Q1 of 2013.
    
    China is the world’s largest consumer of copper, Chile’s most valuable export. Both countries signed a free trade agreement in 2006 which eliminated 92% of tariffs on Chilean exporters. Chile is responsible for a third of the world's copper production which represents 91% of its mining exports and 60% of all exports.
    
    Economist Patricio Meller said that "Chile’s copper industry is more important than Saudi Arabia’s oil industry on a world scale. You have to combine three or four countries to produce what Chile does."
    
    Source - Santiago Times
    
19. voda 17 april 2013 16:57

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    BHP Billiton production report for Q3 and 9M
    
    BHP said that full year production guidance is retained for major businesses following another quarter of robust operating performance.
    
    Western Australia Iron Ore achieved record production for the nine month period ended March 2013. Production guidance of 183 million tonnes (100% basis) for the 2013 financial year remains unchanged, despite cyclone related downtime during the period. An annualised production rate approaching200 million tonnes (100% basis) is anticipated for the June 2013 quarter.
    
    Onshore US produced more than five million barrels of liquids during the March 2013 quarter and theEagle Ford is now our single largest liquids producing field. Petroleum production guidance for the2013 financial year remains unchanged at approximately 240 million barrels of oil equivalent.
    
    Copper in concentrate production at Escondida increased by 61% during the nine month period endedMarch 2013. Total Escondida copper production remains on track to increase by at least 20% in the 2013financial year.
    
    Queensland Coal production was affected by adverse weather conditions during the March 2013quarter. However, recently installed flood mitigation infrastructure enabled a rapid recovery inperformance and the business was operating at full supply chain capacity at the end of the period.
    
    Source - Strategic Research Institute
    
20. voda 17 april 2013 16:58

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    Rio Tinto announces operations review for Q1 of 2013
    
    Highlights
    
    Record first quarter iron ore production, shipment and rail volumes reflected the recent re-rating of Pilbara capacity through debottlenecking and productivity improvements with minimal capital expenditure. The Pilbara iron ore operations swiftly recovered from the cyclone season, and are now running at full capacity of 237 million tonnes per year.
    
    Expansion of Pilbara capacity to 290 million tonnes per year remains on budget, and on time to achieve the accelerated completion date in the third quarter of this year. The project reached a major milestone in the first quarter with the installation of the new shiploader with a nominal 55 million tonne annual capacity on the new wharf at Cape Lambert.
    
    Mined copper benefited from a sustained recovery in grades at Kennecott Utah Copper and Escondida since the first quarter of 2012. On 10 April 2013, the Kennecott Utah Copper mine experienced a slide along a geotechnical fault line of its north eastern wall. Waste movement associated with the Cornerstone extension has restarted but ore production remains suspended and timing to restart ore production remains under evaluation. The concentrator has been shut down while the smelter and refinery are currently operating at reduced levels. Based on an early assessment of information currently available, it is estimated that 2013 refined copper production at Kennecott Utah Copper will be approximately 100,000 tonnes less than previously anticipated.
    
    Commissioning of the Oyu Tolgoi copper-gold mine continued with first concentrate produced in January 2013. Commencement of commercial production remains on track by the end of June 2013, subject to the resolution of the issues being discussed with the Mongolian government.
    
    Rio Tinto CEO Mr Sam Walsh said "Our operations achieved a solid performance in the first quarter, recovering rapidly from the seasonal weather disruptions. At Bingham Canyon, last week's pit wall slide will have a significant impact on our copper production this year. A recovery plan is being implemented to minimise the economic impact. Our two major growth projects in the Pilbara and in Mongolia achieved significant milestones in the first quarter. Both of these industry leading projects remain on track for first production this year and are poised to deliver attractive returns for our shareholders in the years ahead.
    
    "My streamlined Executive Committee structure is now in place and demanding targets for 2013, including for cash cost savings, are locked into our performance measures. We are making good progress in achieving our cost reduction targets and other priorities for 2013, and are determined in our pursuit of greater value for shareholders."
    
    Source - Strategic Research Institute
    
    
21. voda 18 april 2013 17:08

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    Rio Tinto Alcan updates on aluminium production
    
    Bauxite and alumina;
    Rio Tinto Alcan’s bauxite production was 10% higher than the same quarter of 2012 driven by higher volumes at Weipa in line with increased bauxite requirements from the expanded Yarwun refinery and increased third party demand. When compared with the Q4 of 2012 production was down by twelve per cent due to weather events in Queensland.
    
    Rio Tinto Alcan’s alumina production was flat compared with the same quarter of 2012 with greater alumina refining capacity at Yarwun offsetting the impact of ex tropical cyclone Oswald at both refineries in Queensland. This inclement weather led to an 18% drop in volumes compared with the Q4 of 2012. Both refineries recovered from the weather disruption reaching close to planned capacity by the end of the quarter.
    
    During the quarter, Rio Tinto announced that Pacific Aluminum’s Gove alumina refinery would continue operating as planning, approvals and delivery of the gas to Gove project progresses. This decision followed a commitment from the Northern Territory Government to release a portion of its contracted gas for on sale to Gove. A number of important steps remain to deliver gas to Gove.
    
    Pacific Aluminum’s alumina production was ten per cent lower than the same quarter of 2012. This followed the shutdown of one of three digestion stages at Gove in late February after inspections identified concerns about the weld integrity on some heat exchangers. These will be refurbished or replaced to bring the digestion stage back on line by the end of the fourth quarter.
    
    The temporary shutdown is expected to reduce full year alumina production by 700,000 tonnes compared with 2012. Pacific Aluminum’s full year bauxite production is expected to be in line with 2012: bauxite exports will be increased to help offset the financial impact of reduced alumina production.
    
    Aluminium
    Rio Tinto Alcan’s aluminium production was 14% higher than the same quarter of 2012, reflecting the resolution of the lockout at Alma and the power outage at Shawinigan. Production at Alma continued to ramp up and the smelter operated at close to capacity throughout the quarter.
    
    2013 production guidance;
    In 2013, Rio Tinto Alcan’s share of bauxite, alumina and aluminium production is expected to be 33 million tonnes, 7.8 million tonnes and 2.5 million tonnes respectively. These numbers exclude Pacific Aluminium and Other aluminium assets that have been identified for divestment or closure.
    
    Source - Strategic Research Institute