for personal use only - asx personal use only august 2012. ... achievements of rio tinto, or...

120 Collins Street Melbourne 3000 Australia Postal Address: GPO Box 384D Melbourne 3001 Australia T +61 (0) 3 9283 3333 F +61 (0) 3 9283 3707

Registered in Australia Rio Tinto Limited 120 Collins Street Melbourne 3000 Australia ABN 96 004 458 404

ASX Market Announcements Australian Securities Exchange SYDNEY NSW 2000

27 August 2012

Dear Sir, Attached is a presentation given by John McGagh, head of innovation, and Craig Stegman, managing director, major projects, Rio Tinto Copper, as part of a financial community site visit to Northparkes Mines. Yours faithfully, Stephen Consedine Company Secretary

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John McGaghHead of InnovationAugust 2012

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27 August 2012 2

Cautionary statementThis presentation has been prepared by Rio Tinto plc and Rio Tinto Limited (“Rio Tinto”) and consisting of the slides for a presentation concerning Rio Tinto. By reviewing/attending this presentation you agree to be bound by the following conditions.

Forward-looking statementsThis presentation includes forward-looking statements. All statements other than statements of historical facts included in thispresentation, including, without limitation, those regarding Rio Tinto’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto’s products, production forecasts and reserve and resource positions), are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Rio Tinto, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Such forward-looking statements are based on numerous assumptions regarding Rio Tinto’s present and future business strategies and the environment in which Rio Tinto will operate in the future. Among the important factors that could cause Rio Tinto’s actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, levels of actual production during any period, levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation and such other risk factors identified in Rio Tinto's mostrecent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC") or Form 6-Ks furnished to the SEC. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this presentation.

Nothing in this presentation should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed its historical published earnings per share.

© 2012, Rio Tinto, All Rights ReservedF

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Why innovate?

Be better, safer, faster• Improve safety• Improve capital productivity• Improve labour productivity• Find new ore bodies• Recover from difficult ore bodies• Extend resource life• Improve recovery rates• Remove process waste• Reduce energy use

27 August 2012 3© 2012, Rio Tinto, All Rights ReservedF

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50

100

150

200

250

300

350

400

Jan-09 Jan-10 Jan-11 Jan-12

Spot iron ore (62% Fe, fob)AluminiumCopperGoldOilThermal coal

Capital intensity

The scramble for resources is creating new strategic challenges for the industry

Market volatility

Source: Bank of America Merrill Lynch

Stakeholder expectations

Daily commodity prices(Jan 2009 = 100)

$/1600/oz

$2000/t

$3.70/lb

$140/t

$97/bbl

$110/t

Copper projectCapex/tonne

-

2,000

4,000

6,000

8,000

10,000

12,000

14,000

2001 2004 2007 2010

Prices at9 May 2012


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Productivity in the Australian mining sector

27 August 2012 5

85.0

95.0

105.0

115.0

125.0

135.0

145.0

155.019

90-9

119

91-9

219

92-9

319

93-9

419

94-9

519

95-9

619

96-9

719

97-9

819

98-9

919

99-0

020

00-0

120

01-0

220

02-0

320

03-0

420

04-0

520

05-0

620

06-0

720

07-0

820

08-0

920

09-1

0

Multifactor productivity (MFP) index - mining

MFP Index

Source: Australian Bureau of Statistics (ABS) (2011), 5260.0.55.002 – Experimental estimates of industry multifactor productivity, 2010-11 1985-1986 = 100 baseline


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Innovation technologies are a key differentiator

Our Mine of the Future™ provides an integrated approach to unlocking value

Find Develop Mine Recover

• Find future tier oneore bodies

• VK1 in initial flight trials• Complex testing

programme under way

• Develop future blockcave mines safer,faster, better

• Tunnel boring system trials to commence at Northparkes duringH2 2012

• Optimise resource productivity

• Expansion of driverless truck fleet to 150

• Operations Centre• Smart drilling and

blasting• Autonomous trains

(AutoHaul™)

• Recover more from mineral deposits

• IronX™ iron ore recovery pilot plantto be scaled up

• NuWave™ copper sorting pilot plant being commissioned at KUC

Innovation networks created through long term strategic alliancesProtection of Intellectual Property is key to sustaining competitive advantage


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Rio Tinto centres Formal long term (around 5 years) alliances with world class institutions provide Rio Tinto access to stable research resources to pursue targeted Rio Tinto programmes.

Technology partnerships Strategic partnerships and MoUs with leading global suppliers to help develop technology to commercial outcomes.

Centre for Underground Mine Construction

Centre for Advanced Mineral Recovery

Centre for Materials and Sensing

Centre for Advanced Mineral Sorting

Centre for Mine Automation

11

5

6&4

1

14

15

Komatsu

Aker Wirth

Atlas Copco

e2v

Tomra

University of Nottingham

University of Western Australia

Herrenknecht

Rio Tinto innovation network model

6

27 August 2012 7© 2012, Rio Tinto, All Rights Reserved

1

2

3

4

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6 Rio Tinto Innovation Centre

1 2

3

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5

6

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2

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2&8

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27 August 2012 8

Rio Tinto Innovation Centre• State-of-the-art innovation centre in Pune, India supports global growth and development of Mine

of the Future™

• Provides engineering research and development services, including industrial automation and control, software and embedded design and development, and general engineering services

• Builds on the work of Rio Tinto’s established Centres of Excellence in Australia, Canada and the United Kingdom to help drive innovation through to implementation at our operations

• Official opening Q1 2012, 16 projects in the centre now


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Rio Tinto Centre for Advanced Mineral Recovery


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• Structured control & governance

• Data management & security

• Rigorous investment proposals

• Freedom-to-operate

• Patent families and walls

• Trade secrets, copyright & trademarks, individual contracts

Idea Proof of Concept

Pilot Demo Deploy Support

Innovation without intellectual property

protection is philanthropy

27 August 2012 10

Protecting our intellectual property


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Mine of the Future™ - mineral recovery

Rationale: How we recover more from increasingly difficult mineralization?

Rio Tinto has been working with our partners to uncover ways of recovering more valuable product from increasingly difficult mineralization.

Themes: Air recovery/flotation. Advanced leaching, Sorting, Low energy use

Partners: Rio Tinto Centres Advanced Mineral Recovery (Imperial College, London)

Advanced Mineral Sorting (University of Queensland, Brisbane)

Nottingham University, e2V, Tomra


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Increasing our recovery of valuable minerals

HostRock

CopperMineral(Value)

Copper Mineral(Value)in HostRock


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Excite Detect Separate (eXDS™)A technology platform

eXDSTM

NuWaveIronXTM

OthersR


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Copper NuWave™ (eXDS™)

Idea

Proof of Concept

Pilot

Demo

Deploy

Support

27 August 2012 14

• Shares IronX™ technology components• Science genesis ~2000Started

• Upgrade marginal ore or waste material• Reduced energy consumption – leverage energy

from prior processing• Strategic partnerships with Tomra and e2v

Value Levers

• Pilot built in 2010• Pilot run through early 2011• Scale up pathways during 2012 with pilot plant

installed at KUCCStatus


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Value Levers – Copper NuWave™

Increased concentrator throughput – more tonnes/$ invested

Recover copper from waste streams

Absolute increase in recovery

Copper PG value studies underway:

• La Granja

• Escondida

• KUC


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Copper NuWave™ pilot at Kennecott

27 August 2012 16

• Pilot plant built and tested, now in operation

• Designs for scale up in place

• Tomra partnership for developing sorting machine


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27 August 2012 17

Optimising the flotation process


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Modelling and Process Automation

27 August 2012 18

Bubble under-loadedFroth flows fast butbubbles burst quickly= Low recovery, low grade

Optimum balance between froth stability and motion= High recovery and grade

Bubbles heavily loaded.Froth flows too slowlyBurst before overflow= Low recovery, high grade


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Mine of the Future™ - undergroundRationale: How we will go underground: deeper, faster, safer, better

Rio Tinto has been working to improve the existing drill and blast process, and has been investigating the development of alternatives for many years.

Themes: Rapid mine construction (shaft & tunnel boring systems)

Partners: Rio Tinto Centre for Rapid Underground Construction(Centre for Excellence in Mining Innovation, Ontario)

Herrenknecht, Atlas Copco & Aker Wirth


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Improving traditional processes


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Underground innovation trials

Herrenknecht Shaft Boring System

For sinking large diameter shafts. A trial location yet

to be announced

Atlas Copco Tunnel Boring System

In construction trial site evaluation 2013/14

Aker Wirth Tunnel Boring System

Trial to start at NorthparkesMine, Australia 2012


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Tunnel borer


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Excellence Centres – Maximize Productivity

27 August 2012 23© 2012, Rio Tinto, All Rights Reserved

Idea

Proof of Concept

Pilot

Demo

Deploy

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Operations & Excellence centres…….Operations Centre• Aligning and integrating

systems

• Value chain and logistics optimisation

• RTIO Operations Centre in Perth controlling Pilbara mines

Excellence centre• Optimisation of mine to metal,

“experts-on-line”

• Real time (24x7) remote optimisation of our production systems

• Prototype in Copper H2 2012

27 August 2012 © 2012, Rio Tinto, All Rights Reserved 24F

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Testing of human-machine interfaces and development of

operator support tools

Testing of human-machine interfaces and development of

operator support tools

Operator training, development and

deployment of best practices

Operator training, development and

deployment of best practices

Condition based monitoring and support, immediate

and real-time site feedback

Condition based monitoring and support, immediate

and real-time site feedback

Advanced sensors & signal diagnostics,

instrumentation support

Advanced sensors & signal diagnostics,

instrumentation support

Sophisticated data analysis to identify

and interrogate process excursions, real time site advice

Sophisticated data analysis to identify

and interrogate process excursions, real time site advice

Providing Ready-to-deploy DCS, OCS &

PI based control solutions back to site

Providing Ready-to-deploy DCS, OCS &

PI based control solutions back to site

Connect to and interrogate real-time read-only process data from remote sites, real time

links to site based control operators

Connect to and interrogate real-time read-only process data from remote sites, real time

links to site based control operators

Communication Architecture

Process Control Systems

Analytical Capability

Dynamic Modelling

Human Systems

Integration

Training and Knowledge

Management

Process Sensors

AssetSensors

Development & testing of advanced model-based control

with prediction of near-future behaviour

Development & testing of advanced model-based control

with prediction of near-future behaviour

Excellence Centre - Architecture


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Block Cave Mining The Future of Large-Scale Underground Copper Mining August 2012

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Context – what is block caving?

The Value Proposition

Risks

Towards Block Cave Excellence

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Block Caving Suitable for Larger Ore-bodies

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Block caving relies on the regional and local stresses imparted on the ore body exceeding the strength of the rock … which ultimately results in the fragmentation of the ore.

Rock Strength a Factor

Caving occurs at small HRs in

weak rocks

Much larger voids are required to cave

stronger rocks

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What is Block Cave Mining?

Extraction Level

Undercut Level

Extraction Level

Drawbell

Drawpoint

Caving is initiated by development of a mining level at the bottom of the ore body. An initial void is constructed in the ore body inducing the stress, breaking the rock and allowing the ore to be extracted.

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What is Block Cave Mining? Ore is drawn through a network of draw bells (funnels) above the extraction level. Continual removal of the ore propagates fragmentation, allowing the removal of the ore body for minimal drill and blast activity.

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Major block and panel cave mines

8

Rio Tinto Planned Currently operating Closed mines

Northparkes (Cu-Au)

Argyle (Diam.)

Grasberg (Cu-Au)

Oyu Tolgoi (Cu-Au-Mo)

Palabora (Cu)

Resolution (Cu-Mo)

Codelco (Cu)

De Beers (Diamonds)

Miami (Cu)

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Risks


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What is the Value Proposition?

• Greater depth of ore bodies (exhaustion of near-surface ores)

• Declining ore grades

• Improving mining technology

Block Caving is:

• Lowest cost underground mining method

• A mass-mining method – matching the scale of the largest opencut mines

• Can be intensely automated (a safer mining method)

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Greater Depths of Mining Near-Surface Ore is Depleted New Discoveries are Deeper

Examples: Northparkes Resolution Oyu Tolgoi Grasberg

Examples: Palabora Argyle Kennecott Grasberg

Palabora

Argyle For

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Grasberg (40% Rio Tinto) – One of the Great Copper Mines of the World!

View of the Grasberg Mine, West Papua, Indonesia

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Plan View

Ertsberg EastSkarn System

Grasberg PitGrasberg Pit

GrasbergUnderground

GrasbergUnderground

Kucing LiarKucing Liar

BigGossan

DomDom

ESZ DOZDOZ

MLZMLZ

Deep MLZDeep MLZ

Common Infrastructure


Grasberg &Kucing Liar Final Pit

Dom

Big Gossan

CommonInfrastructure

Grasberg Block Caves – Depth Extensions & Buried Ore Bodies

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Head Grades of both Opencut and Underground Mines are declining

Declining Ore Grades

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Block Caving is the Lowest-Cost Underground Mining Method …

Stoping Methods Sub-Level Caving Block Cave Mining

Orebody Type:

Lenticular

OPEX: $30-60/t

Production Rate:

5-30ktpd

T/Manshift 20-115

Orebody Type:

Massive

OPEX: $5-10/t

Production Rate:

10-150ktpd

T/Manshift 300-3000

Orebody Type:

Tabular

OPEX: $12-20/t

Production Rate:

15-50ktpd

T/Manshift 65-180

Block Caving relies on gravity and stress to fragment the rock – minimal explosives!

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0

20000

40000

60000

80000

100000

120000

140000

160000

1880 1900 1920 1940 1960 1980 2000 2020 2040

YEAR

TON

NES

PER

DAY

Climax

Salvador

Kiruna

Mount Isa

San Manuel

MiamiRidgeway

Olympic DamAndina

Freeport IOZ/DOZ

Henderson

MalmbergetPalabora

PremierKidd Creek

(after Brown 2004a)

New generation Caves; under construction

“Conventional” underground

Open pits Super caves

NPMOyu Tolgoi

Cadia

Resolution

Grasberg

Chuq

El Teniente

Andina

DOZ/MLZ

Argyle

ET

Step Change in Scale

Being constructed/advance planning

Current Operations

Block Cave Mining able to match the scale of the largest Opencut Mines …

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N

Plan View


Grasberg PitGrasberg Pit

GrasbergUnderground

GrasbergUnderground

Kucing LiarKucing Liar

BigGossan

DomDom

ESZ DOZDOZ

MLZMLZ

Deep MLZDeep MLZ

Common Infrastructure


Grasberg &Kucing Liar Final Pit

Dom

Big Gossan

CommonInfrastructure

Why Can Block Cave Mines Match the Scale of Opencut Mines?

250-300t payload

15-25t payload

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Active development and mining can occur in multiple areas of the mine footprint. The Grasberg mine will be a Panel Cave (a variant of block caving where the active mining area progressively migrates along a “panel”).

Grasberg Mine layout

Because the size of the Mine Extraction Level can be readily expanded (& modularised) …

2km

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Technology (including Automation) driving a step change in mining productivity

Mechanisation

Automation

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Copper production from UG Mines to exceed production from Opencut Mines by 2020 … driven by a switch to Block Cave mining!

Copper Sourced from Underground Mining will overtake Surface Mining

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Some Fundamental Differences between Opencut & Underground Mining …

OPEN PIT MINING CAVE MINING

good control

more certainty

limited control

uncertainty

reduced knowledge

well established method

Escondida, Chile

• Lower capital • High Capex

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But also clear advantages


Kennecott , USA Northparkes, Australia

• Significant waste movements • Larger carbon footprints

(diesel + explosives) • Large surface footprints

• Minimal waste movements • Low carbon footprints

(electricity) • Large surface footprints

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Secondary Fragmentation

Primary Fragmentation

Flow Interruption Index (events/tons x 1000)

Initial secondary fragmentation

Blasting effect

Secondary fragmentation

Blasted undercut material

Ho

D

Index of Interruptions Frequency (Salvador mine, draw point

04W20)

Significant Comminution Within the Cave

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But also clear advantages


Grasberg, Indonesia

• Large surface footprints • Large surface footprints For

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Risks


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UG Safety Catastrophe • Fall of ground • Fire • Shafts/hoisting • Inrush • Inundation • Air-blast • Explosive

atmosphere • Explosive

materials

Collapse/ instability of underground workings: • Inadequate

Orebody Knowledge

• Higher stress • Weaker rock

mass • Undercut

damage

Incomplete or partial caving • Geological

heterogeneity • Insufficient span

Excessive dilution or contamination of ore stream • Preferential fines

migration • Uneven cave

draw

We know there are risks …

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We are Continually Learning

Concentrator Mining Operations

Centre

Shaft & Loading Station

Extraction Level

Crusher Station

North South

E48 E26 E22

E26

Lift

1

Lessons • Managing critical

risks (air-blast) • Managing cave

propagation • Opportunity to

simplify material handling

E26

Lift

2

Lessons • Control of geology

on cave propagation

• Ability to predict fragmentation

• Importance of Micro-seismic systems

E48

Lift

1

Lessons • Impact of rapid

cave propagation • Managing stress

during undercutting • LHD automation • Drive recovery &

rehabilitation

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Key Technical Issues

cave propagation

cave fragmentation

cave flow

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Reserve Recovery a Key Parameter

WASTE ROCK WASTE ROCK

ORE BODY

Vyazmensky © 2008

Dilution entry

REPEAT

High grade ore

TIME

$

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How Soon Can We Get Our Money Back?

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Underground Mining

Strategy

Design

Construct

Operate

Process

Safety

Technical

People

Technology

Function

Underground Mining Strategy – a holistic approach to risk reduction & improvement

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The Major UG Safety Hazards

Taxonomy

Fall of Ground

Fire

Hoisting/Shaft Incident

Hazardous Gases

Heat & Ventilation

Inrush (fluid)

Mine Subsidence

Air Blast

Explosives Incident

D1.1 Ground control (existing standard)

D1.2 Emergency procedures (existing standard)

D1.3 Fire precaution (revised standard)

D1.4 Hoisting and shafting sinking (revised standard)

D1.5 Explosive and hazardous atmospheres (new standard)

D1.6 Inflow and inundation of liquids (new standard)

D1.7 In-rush solids (new standard)

D1.8 Air blast (new standard)

D1.9 Explosives (new standard based on Rio Tinto Technology and Innovation draft)

Revised UG Safety Standards

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Risks


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Rio Tinto – A Leader in Block Cave Mining

• Involved in 5 block caves in operation or development

• Applying experience from operating mines to developing next generation block cave mines

• Advancing technology and innovation in block cave mining

• Block Cave Knowledge Centre to build people and technical capability

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Oyu Tolgoi – Phased Development of a World Class Asset

Phase 2 • Complete

underground development

• Mill expansion • Power station

Phase 1 • Open pit

development • 100,000 tonne per

day concentrator • Preliminary

development of UG mine

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Kennecott Utah Copper –Pathway to Underground

First step is near term development of North Rim Skarn*

Deep Moly Highland Boy South West Caves

East Cave Fortuna Skarn

Conceptual underground sequencing

North Rim Skarn

− 20 million tonnes mineral resource at 3.6% Cu

− 1.0 million ounces of contained gold

− $165 million approved for pre-feasibility studies to 2014

− Production average ~50kt per annum

− Potential first production in ~6 years

*Source: 2011 Rio Tinto Annual Report

North Rim Skarn

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Resolution – A Major Underground Mine of the Future

– High quality resource – 1.47%

copper with significant

molybdenum

– Top of resource about 1.5km

deep, with production level 2km

deep

– Land exchange bill approved in

US House of Representatives

– Sinking shaft No. 10 to begin

underground feasibility study

– US $103 million approved to

deepen shaft No. 9 to mine level

Shaft 10 Shaft 9

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Northparkes Step-Change Project - Expansions

E26 Subsidence Zone Mining Operations Centre E48 Subsidence Zone Administration Centre Concentrator

E22 Pit

E22

E48

Lift 2

GRP314 E26

Lift 3

E48 Lift 1

E26

Lift 2

E26

Existing block cave

Proposed block cave

North South

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0.5 Km

1000m

1500m

2000m

Mirador Paja Blanca

0.3% Cu CoG, (0.51%)

0.6% Cu CoG (0.77%)

Starter Case Pit 5F

400m 0m 200m

Paja Blanca Deep High Grade

Mirador Deep High Grade

La Granja – Block Cave Potential below the proposed Opencut

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RequiredFragmentator

ReliableOre Flow

Predictable Fragmentation(+ grade)

The Rock Factory

Ore Transportand Sizing

FragmentSize

Energy(Distance Traveled)

In Situ

Crushing and Grinding

The Vision – an Ore Factory

The Ore Factory

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Mine design is our most important value creation (and protection) lever

First Consideration …

Productivity = f (Footprint size, Caving rate)

Getting the basics like caveability and extraction level stability right are absolutely crucial for safe recovery of reserves …

After that, the important productivity drivers kick-in …

Productivity = f (Extraction, Comminution, Material Handling)

This is ALL about design!!!! For

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Conventional Block/Panel Caves Rely on Ore Rehandle

Rail/truck level at Grasberg Panel Cave

Henderson Ore Pass

LHDs feeding ore pass to trucks hauling ore to central crusher station

Grizzly

Gyratory crusher

Conveyor/hoist/train

Ore Pass

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Northparkes Layout Eliminates Rehandle – Reducing Capex and Opex

4-Way Tipple

Northparkes’ 4-Way Tipple

LHDs feeding primary ore bin to jaw-gyratory crusher with direct feed to conveyor

Primary feed bin

Ore bin

Crusher

Conveyor

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Drill & Blast: • 4-6m/day • Significant rock mass damage

from blasting • Very flexible (multiple headings

can be worked) • Scaleable • Wide selection of equipment

Versus

Tunnel Boring Systems: • 10-14m/day • Reduced rock mass damage • Minimum turning radius of

20-30m • Machines are up to 60m long • Prototypes only

TBS has an immediate application in main access development and material handling system development

Significant Opportunity for Rapid Tunneling Technology

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Summary

• Block Cave Mining Method offers Rio Tinto a clear opportunity to add significant value to lower grade and/or deeper ore bodies

• Safer (more automated)

• Lower cost

• Higher productivity

• Smaller footprint

• Block Cave Mining is technically challenging with many new and unexpected risks

• Rio Tinto has a structured approach to managing risk and capturing the full value of the mining method through continuous improvement F

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for personal use only - asx personal use only august 2012. ... achievements of rio tinto, or...

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