Modernising Agreements and Transition to Renewables
Product group level guidance
Iron Ore
Shipments
Copper
2021 production
guidance¹
320-325mt²
(100% basis)
2021 costs
$18.0-18.5/wmt (FOB), based on an
Australian dollar exchange rate of $0.75
Mined Copper
Refined Copper
~500kt³
190 - 210kt4
C1 Copper unit costs 75-80 US c/lb
Aluminium
Bauxite
Alumina
54 - 55mt6
7.8 -8.2mt
3.1-3.3mt
Modelling guidance provided for
Canadian smelters only (see slide 80)
Aluminium
Minerals
TiO2
IOC pellets and concentrate
B₂O3
Diamonds
1 Rio Tinto share unless otherwise stated.
~1.07
~0.5mt
9.5-10.5mt
3.0 3.8m carats5
2 Pilbara shipments guidance remains subject to COVID-19 disruptions including risks around mandatory vaccination for the resources industry in Western Australia as of 1
December, and risks around commissioning of new mines and management of cultural heritage.
3 Remains subject to COVID-19 disruptions and risks around mine plan sequencing following geotechnical issues at Kennecott.
4 Reduction reflects a Kennecott smelter incident in September resulting in force majeure on customer contracts.
5 Diamonds 2021 guidance and actuals are for Diavik only for comparability, following Argyle closure in 2020. Unadjusted Diamonds production for 2020 was 14.7 million carats,
including both Diavik and Argyle operations.
6 Reduction reflects equipment reliability issues and operational instability at the Pacific mines. The focus in the fourth quarter is on the recovery of plant equipment availability and
asset health to support 2022 performance.
7 Full year titanium dioxide slag production guidance has been reinstated following stabilisation of the security situation at Richards Bay Minerals in South Africa and resumption of
operations.
8 Iron Ore Company of Canada.
Rio Tinto
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