TIDMRIO
RNS Number : 8044A
Rio Tinto PLC
27 September 2022
Rio Tinto to start underground mining at Kennecott copper
operations
Rio Tinto has approved a $55 million[1] investment in
development capital to start underground mining and expand
production at its Kennecott copper operations in Utah, United
States.
Underground mining will initially focus on an area known as the
Lower Commercial Skarn (LCS), which will deliver a total of around
30kt[2] of additional high quality mined copper through the period
to 2027 alongside open cut operations. The first ore is expected to
be produced in early 2023, with full production in the second half
of the year. It will be processed through the existing facilities
at Kennecott, one of only two operating copper smelters in the
United States.
Kennecott holds the potential for significant and attractive
underground development. The LCS is the first step towards this,
with a Mineral Resource of 7.5 Mt at 1.9% copper, 0.84 g/t gold,
11.26 g/t silver, and 0.015% molybdenum identified based on
drilling and a Probable Ore Reserve of 1.7 Mt at 1.9% copper, 0.71
g/t gold, 10.07 g/t silver, and 0.044% molybdenum[3].
Underground battery electric vehicles are currently being
trialed at Kennecott to improve employee health and safety,
increase productivity and reduce carbon emissions from future
underground mining fleets. A battery electric haul truck and loader
supplied by Sandvik Mining and Rock Solutions are being used to
evaluate performance and suitability as part of underground
development work.
Rio Tinto Copper chief executive Bold Baatar said, "This
investment will allow us to quickly bring additional volumes of
high quality copper to the market and build our knowledge and
capabilities as we evaluate larger scale underground mining at
Kennecott. We are progressing a range of options for a significant
resource that is yet to be developed at Kennecott, which could
extend our supply of copper and other critical materials needed for
electric vehicles and renewable power technologies."
"Trialling underground battery electric vehicles is an exciting
step in our work to create a safer workplace for our employees,
increase the productivity of the mine and reduce emissions from our
operations. We look forward to seeing their potential for
deployment."
Existing undergound infrastructure is currently being extended
to enable early access to the next underground resource and
undertake characterisation studies. A Feasibility Study to inform
decisions on the next phase of underground production is expected
to be completed in 2023. This will be one of several potential
stages currently being investigated.
Feasibility studies are also being progressed to extend open pit
mining at Kennecott beyond 2032.
The Table 1 Release was made in accordance with the JORC Code
and the ASX Listing Rules. Mineral Resources are reported in
addition to Ore Reserves. Mineral Resources and Ore Reserves are
quoted on a 100 per cent basis.
Mineral Resource declaration
The Table 1 Release sets out Measured, Indicated and Inferred
Mineral Resources at the Kennecott Copper operation with the first
time reporting of the Lower Commercial Skarn. A tabulation of the
additions to Mineral Resource due to the LCS is provided in Table
A.
Table A Rio Tinto Kennecott Lower Commercial Skarn Mineral Resources as at 31 July 2022
Measured resources Indicated Inferred Total mineral
resources resources resources
========== ========
as at July as at July as at July as at July
2022 2022 2022 2022
==================== ===== ===== ==================== =========== ==================== ===== ===== ==================================
Likely Rio
mining Tinto
method(a) Tonnage Grade Tonnage Grade Tonnage Grade Tonnage Grade Interest
=========== ========== ======= ===== ==== ===== ===== ======= ===== ==== ==== ===== ======= ===== ==== ===== ===== ======= ===== ==== ===== ===== ========
Copper Mt % g/t g/t % Mt % g/t g/t % Mt % g/t g/t % Mt % g/t g/t %
(b) Cu Au Ag Mo Cu Au Ag Mo Cu Au Ag Mo Cu Au Ag Mo %
Bingham
Canyon (US)
=========== ========== ======= ===== ==== ===== ===== ======= ===== ==== ==== ===== ======= ===== ==== ===== ===== ======= ===== ==== ===== ===== ========
- Lower
Commercial
Skarn U/G 0.2 2.52 1.27 10.56 0.056 1.1 2.08 0.72 9.43 0.029 6.2 1.84 0.86 11.62 0.011 7.5 1.89 0.84 11.26 0.015 100.0
=========== ========== ======= ===== ==== ===== ===== ======= ===== ==== ==== ===== ======= ===== ==== ===== ===== ======= ===== ==== ===== ===== ========
(a) Likely mining method:
O/P = open pit/surface;
U/G = underground.
(b) Copper Resources
are stated on a dry
in situ weight basis.
Ore Reserve declaration
The Table 1 Release also sets out additional Probable Ore
Reserves at the Kennecott Copper operation, with the first time
reporting of Ore Reserves associated with the Lower Commercial
Skarn. A tabulation of the additions to Ore Reserve due to the LCS
is provided in Table B.
Table B Rio Tinto Kennecott Lower Commercial Skarn Ore Reserves as at 31 July 2022
Probable Total ore reserves Average Rio
ore reserves mill recovery Tinto
% share
======== =============== ========
as at July as at July Recoverable
2022 2022 Metal
==================== ============ =========================== ===== ===
Type Rio
of Tinto
mine(a) Tonnage Grade Tonnage Grade Interest
=========== ======== ======= ===== ==== ===== ===== ======= ===== ==== ===== ===== === ======== ===== ===== ===== =====
Copper Mt % g/t g/t % Mt % g/t g/t % Cu Au Ag Mo % Mt Moz Moz Mt
(b) Cu Au Ag Mo Cu Au Ag Mo Cu Au Ag Mo
Bingham
Canyon (US)
=========== ======== ======= ===== ==== ===== ===== ======= ===== ==== ===== ===== === ======== ===== ===== ===== =====
- Lower
Commercial
Skarn U/G 1.7 1.90 0.71 10.07 0.044 1.7 1.90 0.71 10.07 0.044 90 71 76 71 100 0.030 0.028 0.421 0.001
=========== ======== ======= ===== ==== ===== ===== ======= ===== ==== ===== ===== === ======== ===== ===== ===== =====
(a) Type of mine:
O/P = open pit/surface,
U/G = underground.
(b) Copper Reserves
are reported as dry
mill feed tonnes.
A copy of the Table 1 Release is available on Rio Tinto's
website at
riotinto.com/invest/financial-news-performance/resources-and-reserves
Contacts Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, UK Media Relations, Australia
Illtud Harri Jonathan Rose
M +44 7920 503 600 M +61 447 028 913
Matthew Klar Matt Chambers
M + 44 7796 630 637 M +61 433 525 739
David Outhwaite Jesse Riseborough
M +44 7787 597 493 M +61 436 653 412
Media Relations, Americas
Simon Letendre
M +514 796 4973
Malika Cherry Investor Relations, Australia
M +1 418 592 7293 Tom Gallop
M +61 439 353 948
Investor Relations, UK Amar Jambaa
Menno Sanderse M +61 472 865 948
M: +44 7825 195 178
David Ovington
M +44 7920 010 978
Clare Peever
M +44 7788 967 877
Rio Tinto plc Rio Tinto Limited
6 St James's Square Level 43, 120 Collins Street
London SW1Y 4AD Melbourne 3000
United Kingdom Australia
T +61 3 9283 3333
T +44 20 7781 2000 Registered in Australia
Registered in England ABN 96 004 458 404
No. 719885
This announcement is authorised for release to the market by
Steve Allen, Rio Tinto's Group Company Secretary.
riotinto.com
[1] All dollar values are in USD.
[2] Lower Commercial Skarn production targets referred to in
this release are reported as recoverable copper and are underpinned
as to 100% by Probable Ore Reserves. These estimates of Ore
Reserves were reported in a release to the Australian Securities
Exchange (ASX) dated 31 August 2022 "Rio Tinto Kennecott Mineral
Resources and Ore Reserves" (Table 1 Release) and have been
prepared by Competent Persons in accordance with the requirements
of the Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves, 2012 (JORC Code).
[3] The Mineral Resource and Ore Reserve estimates referred to
in this release were set out in the Table 1 Release. The Competent
Person responsible for the information in that release that relates
to Mineral Resources is Mr Ryan Hayes, a Member of the Australasian
Institute of Mining and Metallurgy (MAusIMM). The Competent Person
responsible for the information in that release that relates to Ore
Reserves is Mr Stephen McInerney, a Member of the Australasian
Institute of Mining and Metallurgy (MAusIMM). Rio Tinto confirms
that it is not aware of any new information or data that materially
affects the information included in the Table 1 Release, that all
material assumptions and technical parameters underpinning the
estimates in the Table 1 Release continue to apply and have not
materially changed, and that the form and context in which the
Competent Persons' findings are presented have not been materially
modified.
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END
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