Operations & financial report
Rio Tinto iron and titanium operations
Quebec Iron & Titanium
Richards Bay Minerals (Rio Tinto: 50 per cent)
Rio Tinto Iron & Titanium (RTIT) comprises the wholly owned Quebec Iron & Titanium
(QIT) in Quebec, Canada and the 50 per cent interest in Richards Bay Minerals
(RBM) in KwaZulu-Natal, South Africa. Both produce titanium dioxide feedstock
used by customers to manufacture pigments for paints and surface coatings,
plastics and paper, as well as iron and zircon co-products. RBM is meeting
progressing arrangements to meet the requirements of legislation governing
broad based economic empowerment in the South African mining industry.
QIT's proprietary process technology enables it to supply both the sulphate and chloride pigment manufacturing methods. QIT has the capacity to produce 375,000 tonnes of upgraded slag (UGS) per annum and is currently improving its smelter facility to smelt ilmenite from the Madagascar project into high grade slag. Resources will sustain more than 20 years operation at current production rates.
RBM's ilmenite has a low alkali content which makes its feedstock suitable for the chloride pigment process. RBM has the capacity to produce one million tonnes of feedstock annually.
RTIT is headquartered in the UK.
2007 operating performance
Titanium dioxide pigment is the principal end use market for feedstocks manufactured by RTIT.
Titanium dioxide feedstock output remained steady from 2006 to 2007 with both smelters operating at full capacity. Prices of chloride feedstock remained flat with the market going into oversupply. The production of UGS increased by five per cent to take advantage of the increasing demand for high grade feedstock. Sales of feedstock into the sulphate market increased to meet demand from Asia. Prices for iron co-products remained strong during the year.
