Australian mining giant Rio Tinto's global iron ore production in the third quarter of this year was nine percent higher than in the second quarter of this year, amounting to 47.61 million mt -up one percent year on year, while its iron ore production (134.58 million mt) in the first nine months of the current year was ten percent higher as compared to the corresponding period of 2009.
Rio Tinto's global iron ore operations are expected to remain producing at close to nameplate
capacity for the remainder of the year. 2010 production is expected to be approximately 179 million mt (attributable) and 234 million mt on a 100 percent basis.
Meanwhile, in the third quarter of 2010, Rio Tinto's hard coking coal production rose by two percent quarter on quarter and by 17 percent year on year, amounting to 2.43 million mt, with Queensland coal operations setting a new quarterly record. In the first nine months of the current year, Rio Tinto's hard coking coal output totaled 6.69 million mt, rising by 25 percent as compared to the first three quarters of 2009.
In 2010, Rio Tinto's share of Australian hard coking, semi-soft coking coal and thermal coal production is expected to be 9.5 million mt, 3.3 million mt and 19.1 million mt, respectively.
Commenting on the market situation, Rio Tinto's chief executive Tom Albanese said, " We have delivered consistently strong operating performance in 2010 and the third quarter was no exception. We continue to run our operations at close to or above capacity rates, taking advantage of strong prices for our products. This quarter we achieved record production in iron ore, alumina and coking coal. Our investment in organic growth is gathering momentum. We approved more than $4 billion of capital projects during the third quarter, including investment towards the expansion of our Pilbara iron ore operations to 330 million tonnes per annum. This takes our total approvals this year to $5.5 billion and is consistent with our capex guidance of $13 billion over the 18 months to December 2011."