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IN PHOTO: An aerial view from a plane shows the Titimukhta gold operation, owned by Polyus Gold International company, in Krasnoyarsk region, Eastern Siberia, Russia, July 1, 2015. Polyus Gold International is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced, according to the official web site of the company. Titimukhta is an efficient medium-sized operation, located near Olimpiada, Polyus Gold's largest mine. Picture taken July 1, 2015. REUTERS/Ilya Naymushin

Sam Walsh, the CEO of British-Australian multinational group Rio Tinto, after releasing the company's second quarterly production results, said, the group focused on maintaining and protecting efficient returns, which has reflected in its latest production results.

Mr. Walsh also highlighted the significant achievements the company made within its growth portfolio, while pointing out the projects that dealt with Copper, Aluminium and Iron ore. He emphasised on the group's world-class stature, ensured sustainable returns for the shareholders in future.

Highlights:

  • Shipments and Iron ore production increased approximately nine percent, compared to the last year's production, despite an expansion program in Pilbara.
  • With the completion of Pilbara 360 Mt/a infrastructure expansion, now the company's target is to generate maximum value from assets, which would include productivity improvements and debottlenecking,
  • The modernised Kitimat aluminium smelter in Canada would be producing nameplate capacity of 420 thousand tonnes by early 2016. This would also help in lowering the emissions and production costs and increase output,
  • The agreement signed between Oyu Tolgoi Underground Mine Development and Financing Plan (UDP) would be a milestone. It would push shareholders to restart underground development.

Iron Ore Pilbara operations: First half production reported to be of 146.3 million tonnes (Rio Tinto share 118.6 million tonnes), which is ten per cent higher than the same period of 2014 following an increase up to 290 Mt/a in May 2014.

Pilbara Sales: 146.5 million tonnes of sales were recorded in the first half (Rio Tinto shares 118.3 million tonnes) which is eight per cent higher than the same period of 2014.77.2 million tonnes of quarterly sales were generated (Rio Tinto share 62.9 million tonnes), which is eight percent higher than the second quarter in 2014.

Bauxite: The production reported to have increased by five percent as opposed to the same period last year, seting a new record for the first half.

Aluminium: production has remained almost same compared to the previous year.

Grasberg: Rio Tinto is entitled to a 40 percent of additional material, mined after a joint venture agreement was signed with Freeport-McMoRan (FCX).

Coal: Compared to the first half of 2014, coal hard coking coal production was 13 per cent higher due to an improved production rates at Kestrel.

Meanwhile, in the first half of 2014, thermal coal production with increased tonnage at Hail Creek through a processing plant by-product stream and a strong operational performance.

Diamonds: Carats produced at Argyle were 71 percent higher when compared to both the quarters of the last year. Lower carats produced at Diavik compared to last year reflect lower ore.

Contact the writer on priya.shayani@gmail.com.

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