Last year, RTA s Weipa bauxite mine had a yield of 35 million tonnes, while 12.3 million tonnes came from Gove. Rio Tinto s 2020 fourth quarter production report details the activities of Gladstone refineries over the year. QAL produced 3.701 million tonnes of alumina in 2020, while Yarwun produced 3.175 million tonnes. Boyne Smelters Limited processed the alumina into 510,000 tonnes of aluminium in 2020. According to these figures, about 28 million tonnes of bauxite is needed to run the refineries at Yarwun and QAL. From this 28 million tonnes of bauxite, about 7 million tonnes of alumina is produced, which BSL could turn into 3.5 million tonnes of aluminium. If current production rates at Weipa and Gove are maintained, it is understood enough bauxite remains to continue refining at Yarwun and QAL for about 25 years.
Will bauxite adjustments hit central Queensland refineries?
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Will bauxite adjustments hit central Queensland refineries?
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There has been no material change to the economic cut-off methodology or process. The application of the updated pricing assumptions has removed lower quality material from the Ore Reserve estimate. There has been no material change to the other reserve modifying factors, including: governmental, tenure, environmental, cultural heritage, social, community or operational. Meanwhile, RTA Pacific Operations Mineral Resources exclusive of Ore Reserves estimates have increased. Mineral Resources exclusive of Ore Reserves has increased by 128 Mt, from 1,949 Mt to 2,077 Mt, the statement to the ASX said. This includes 1,330 Mt of Inferred Resource at North of Weipa, which remains unchanged from 2019. The increase was mainly due to changes in the forecast pricing assumptions used in the reserving process.