Copper
Chief executive, Copper: Andrew Harding
With diverse assets and leading technology, our Copper group is uniquely positioned to supply growing global demand. In 2010, we produced 678 thousand tonnes of copper, making us the world's fifth largest supplier. We also produced 772 thousand ounces of gold and 13 thousand tonnes of molybdenum as by-products of our copper operations.
Products
Overview: Copper, gold, molybdenum, silver, nickel
Copper
About two thirds of copper production is used in electrical applications due to its high conductivity. It helps power our lives, in homes and factories, cars, computers, phones and equipment. Further major uses are in air conditioning and refrigeration, plumbing and roofing.
Molybdenum
Molybdenum is a metallic element frequently used in alloys with stainless steel and other metals. It enhances the metal's toughness, high temperature strength and corrosion resistance. We produce molybdenum as a by-product from the Kennecott Utah Copper operations.
Gold
Gold has enjoyed a mystique and value unrivalled by other metals. Most gold that is not stored as bullion for investment purposes goes into jewellery. Gold's conductivity and non corrosive properties make it a vital fabrication material in technology, electronics, space exploration and dentistry. We produce gold as a by-product from our copper mines.
Silver
Silver is a good conductor of electricity and does not corrode. It is used in many electrical and electronic applications, such as photovoltaic cells, and is the principal ingredient of x-ray film. Silver is also a metal of beauty, used to make lasting products for the home and person. Rio Tinto produces silver as a by-product of its copper production.
Download the Copper fact sheet
Operational highlights in 2010
| 2010 US$ million | 2009 US$ million | |
|---|---|---|
| Revenue | 7,782 | 6,206 |
| Operating cash flow | 4,048 | 2,223 |
| Underlying earnings (a) | 2,534 | 1,878 |
| Capital expenditure | 958 | 553 |
| Net operating assets | 6,663 | 5,187 |
Find out more on Copper's performance results in the Annual report
(a) See note 2 and the Financial information by business unit section of the 2010 financial statements for a reconciliation of underlying earnings to net earnings.
- Solid fundamentals in the near to medium term.
- Growth in emerging economies, led by China and India, will drive increasing demand.
- Potential for supply side challenges linked to increased sovereign risk, higher operating costs, increasing depths, decreasing grades and project disruption.
- The Copper group's asset base is resilient to volatile prices and has opportunities for development, while its growth pipeline is world class.
Fact sheets
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