PowerPoint Presentation

Size: px

Start display at page:

Download "PowerPoint Presentation"

绮亲栾
6 years ago
Views:

1 Long-term Industry Commitment 对行业的长期承诺 9 th Annual TZMI Congress, Shanghai, 18 November 2015 第九届 TZMI 年度会议, 上海,2015 年 11 月 18 日 Mark Davies 马克. 戴维斯 Chief Commercial Officer, Rio Tinto Iron & Titanium 首席商务官, 力拓钛铁公司

2 Cautionary statement 2 This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited ( Rio Tinto ). By accessing/attending this presentation you acknowledge that you have read and understood the following statement. Forward-looking statements This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of the Rio Tinto Group. These statements are forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, and Section 21E of the US Securities Exchange Act of The words intend, aim, project, anticipate, estimate, plan, believes, expects, may, should, will, target, set to or similar expressions, commonly identify such forward-looking statements. Examples of forward-looking statements include those regarding estimated ore reserves, anticipated production or construction dates, costs, outputs and productive lives of assets or similar factors. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors set forth in this presentation. For example, future ore reserves will be based in part on market prices that may vary significantly from current levels. These may materially affect the timing and feasibility of particular developments. Other factors include the ability to produce and transport products profitably, demand for our products, changes to the assumptions regarding the recoverable value of our tangible and intangible assets, the effect of foreign currency exchange rates on market prices and operating costs, and activities by governmental authorities, such as changes in taxation or regulation, and political uncertainty. In light of these risks, uncertainties and assumptions, actual results could be materially different from projected future results expressed or implied by these forward-looking statements which speak only as to the date of this presentation. Except as required by applicable regulations or by law, the Rio Tinto Group does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events. The Group cannot guarantee that its forward-looking statements will not differ materially from actual results. In this presentation all figures are US dollars unless stated otherwise. Disclaimer Neither this presentation, nor the question and answer session, nor any part thereof, may be recorded, transcribed, distributed, published or reproduced in any form, except as permitted by Rio Tinto. By accessing/ attending this presentation, you agree with the foregoing and, upon request, you will promptly return any records or transcripts at the presentation without retaining any copies. This presentation contains a number of non-ifrs financial measures. Rio Tinto management considers these to be key financial performance indicators of the business and they are defined and/or reconciled in Rio Tinto s annual results press release and/or Annual report.

A portfolio of industry leading assets 行业领先的资产组合 3 RTFT:

Centre 研发中心 Large, long-life, low-cost ore-bodies 规模庞大

development and customer support 自主知识产权的冶炼技术产品开发以及客户支持

sulphate pigment, and welding and sponge industries

co-product streams deliver maximum value from ore-bodies

high-margin markets 共生产品升级面向专业细分的高端市场 Titanium dioxide

3 A portfolio of industry leading assets 行业领先的资产组合 3 RTFT: 1950 魁北克钛铁 RBM: 1976 理查兹湾矿物 QMM: 2009 马达加斯加矿物 Technology Centre 研发中心 Large, long-life, low-cost ore-bodies 规模庞大可长期开采且低成本的矿山资源 Proprietary smelting technology, product development and customer support 自主知识产权的冶炼技术产品开发以及客户支持 Reliable and flexible production base serving chloride and sulphate pigment, and welding and sponge industries 可靠并具有市场灵活性的生产基地, 为氯化法和硫酸法钛白粉焊接钛铁以及海绵钛等行业供应原料 Multiple co-product streams deliver maximum value from ore-bodies 多种共生产品的组合以创造矿体的最大价值 Co-product upgrading to supply niche, high-margin markets 共生产品升级面向专业细分的高端市场 Titanium dioxide business well placed to supply consumption-driven demand growth 二氧化钛业务立足于供应由消费驱动的需求增长

4 Safety remains our core value 安全始终是我们的核心价值 4 All Injury Frequency Rates 总工伤率 Rio Tinto Iron & Titanium, Rio Tinto 力拓钛铁公司 Source: Rio Tinto 力拓

5 Our business has global scale and reach 我们的业务遍布全球 Rio Tinto Fer et Titane, Canada (100% Rio Tinto) 加拿大魁北克钛铁 ( 力拓 100% 股权 ) Hard rock ilmenite mining at Havre St Pierre 位于哈佛 - 圣皮埃尔的岩矿采矿 Refining & technology at Sorel Tracy 位于索瑞尔熔炼基地, 研发中心 Operations 运营 Exploration 勘探 Technology centre 研发中心 Sales & distribution offices 分销中心 Warehouse facilities 仓储设施 5 Primary TiO 2 products 主要产品 60% TiO 2 QMM ilmenite 80% TiO 2 Sorelslag 85% TiO 2 RBM chloride slag Other products 其它产品 Zircon 锆英砂 Rutile 金红石 High purity iron 高纯铁 Metal Powders, Suzhou (100% Rio Tinto) 魁北克金属粉末, 苏州 ( 力拓 100% 股权 ) QIT Madagascar Minerals,(80% Rio Tinto) 马达加斯加矿物 ( 力拓 80% 股权 ) Mineral sands mining 矿砂采矿 90% TiO 2 95% TiO 2 RTCS TM UGS Metal powders 金属粉末 Steel 钢 Richards Bay Minerals, South Africa (74% Rio Tinto) 南非理查兹湾矿物 ( 力拓 74% 股权 ) Mineral sands mining, refining & technology 矿砂采矿, 熔炼, 研发

Long-term demand fundamentals for TiO 2 are robust 支撑二氧化钛行业长期发展的基础仍然稳固 6 Strong medium term fundamentals underpinned by increased per capita pigment usage in emerging economies

6 Long-term demand fundamentals for TiO 2 are robust 支撑二氧化钛行业长期发展的基础仍然稳固 6 Strong medium term fundamentals underpinned by increased per capita pigment usage in emerging economies 新兴经济体国家人均钛白粉需求的增长将会成为支撑行业中长期发展的基础 TiO 2 pigment demand trend supported by GDP trend GDP 的增长支撑了钛白粉需求的增长 Indexed 指数 1990 = 100 Expanding Chinese urban middle class driving consumer-led growth 中国不断壮大中的中产阶级正在引领消费领域的增长 Chinese urbanisation rates to increase from 55% to 65% by 2025 到 2025 年, 中国的城镇化率将会从目前的 55% 增长到 65% Demand in developed markets is expected to stabilise while other emerging markets provide longer term opportunity 发达经济体的需求将会保持稳定, 但长期的市场机会主要集中于新兴经济体国家钛白粉需求 China s share of global TiO 2 market expected to grow 中国在全球二氧化钛市场中所占的份额将会继续增长 Global TiO 2 feedstock demand split by region, TiO 2 units 全球二氧化钛原料需求绝对量的地区分布全球实际 GDP 发达国家市场中国新兴经济体市场 Source: Global Insight, TZMI, Rio Tinto 2015, 2014, Rio Tinto, All Rights Reserved

We are responding to the changing environment 7 我们根据市场的变化而对业务做出相应的调整 Rio Tinto production, TiO 2 slag 力拓钛渣产量 Indexed 指数, 2012 = 100 Average industry EBITDA margins approaching cyclical lows 行业平均

7 We are responding to the changing environment 7 我们根据市场的变化而对业务做出相应的调整 Rio Tinto production, TiO 2 slag 力拓钛渣产量 Indexed 指数, 2012 = 100 Average industry EBITDA margins approaching cyclical lows 行业平均 EBITDA 利润逼近周期性底部 We are aligning production to market demand 我们根据市场的需求调整产量 Two furnaces at Sorel and one at RBM taken offline 关停了部分熔炼炉, 其中两座在索瑞尔一座在理查兹湾 Furnaces running to optimise peak power periods 优化了熔炼炉在电价峰谷间的运行 Temporary shut downs at Havre Saint-Pierre and QMM 暂时关闭了在哈佛 - 圣皮埃尔和马达加斯加的部分产能 Pigment producers also responding to weaker markets with announced plant closures 为了应对疲弱的需求, 一些钛白粉厂商也宣布了产能关停钛白粉 TiO2 原料 Some feedstock producers renegotiating debt payments in response to financial stress 由于财务压力, 一些钛白粉原料供应商也正在寻求延期偿还债务 * Full year 2015 guidance as stated in Q operations review of mt TiO 2 slag production Source: Rio Tinto estimates

Strengthening our industry position through customer focus and relationships 我们通过重视客户, 加强与客户的关系来进一步巩固我们的行业地位 TiO 2 portfolio flexibility 灵活的产品线 Percentage of total product tonnes (capacity) 产品总量百分比 (

8 Strengthening our industry position through customer focus and relationships 我们通过重视客户, 加强与客户的关系来进一步巩固我们的行业地位 TiO 2 portfolio flexibility 灵活的产品线 Percentage of total product tonnes (capacity) 产品总量百分比 ( 产能 ) 氯化渣酸溶渣两者皆可 Global supply chain flexibility 灵活的供应链 Sales office Production location Warehouse Maximising ore value through product portfolio 优化矿源组合以获得最大的价值 Optionality between ilmenite, slag, UGS and rutile ensures flexible product mix that can meet customers requirements 灵活调配钛矿, 钛渣, 升级高钛渣 (UGS) 和金红石的产品比重以满足客户的需求 Commencing direct sales of QMM ilmenite 开始直接销售马达加斯加出产的钛铁矿 World class technology and technical capability with continuous product development 以世界顶级的工业技术和工艺能力来保证持续的产品开发 Customer focused commercial strategy with emphasis on reliability and quality 以客户为核心的商业战略, 并且注重商业信誉和产品质量 Expanding commercial, technical and operational presence in China 扩大我们在中国的商务技术和市场运营 Pro-active collaboration across the value chain to decrease environmental impact 引领与上下游企业的合作, 共同减少产业链对环境足迹的影响 8

Maximising value through product & market development and

Centre 研发中心 Pilot smelting furnace, pilot chlorinator 中试熔炼电炉,

formulations for TiO2 products and Metallics 为客户订制配方的二氧化钛及金属产品

support 行业和客户支持 On-site customer technical support 提供现场技术支持

9 Maximising value through product & market development and customer support 通过加强产品研发, 市场开拓和对客户的支持来实现价值最大化 9 Technology Centre 研发中心 Pilot smelting furnace, pilot chlorinator 中试熔炼电炉, 中试沸腾氯化装置器 Product and process optimization 产品及生产流程优化 Customer formulations for TiO2 products and Metallics 为客户订制配方的二氧化钛及金属产品 Customer joint developments 与客户合作开发项目 Industry and customer support 行业和客户支持 On-site customer technical support 提供现场技术支持 Technical team based in Suzhou, China 在中国苏州拥有技术支持团队 Global leader in industry-wide projects 全球领先的行业研究

Driving Cost and productivity improvements 致力于压缩成本和提高生产效率 10 RTIT cash operating costs (100% basis) 现金成本 Indexed, 2012 = 100 Ongoing transformation programmes to deliver structural

reliability: 提高生产效率和运营可靠性 RTIT Working Capital (100% basis) 运营资金 Indexed, 2012 = 100 Focus on working capital optimisation across all pillars.

systems to deliver improved plant performance and yields 生产工艺流程和运营系统的改良提高了工厂的生产效率和产品收得率 RTIT capital spend (100% basis) 投资项目支出 Indexed, 2012 = 100 Capacity available to ramp up

10 Driving Cost and productivity improvements 致力于压缩成本和提高生产效率 10 RTIT cash operating costs (100% basis) 现金成本 Indexed, 2012 = 100 Ongoing transformation programmes to deliver structural cost reductions across all sites 正在进行中的企业转型将会给所有的生产基地带来结构性的成本削减 Significant headcount reductions at all sites since end 2012 从 2012 年以来在所有生产基地进行了大规模的减员 Improving productivity and reliability: 提高生产效率和运营可靠性 RTIT Working Capital (100% basis) 运营资金 Indexed, 2012 = 100 Focus on working capital optimisation across all pillars. Working capital almost halved since 2012 注重全方面提高资金利用率, 目前运营资金规模仅是 2012 年的一半 LEAN implementation to ensure agility and flexibility 实施精益生产以确保生产的灵活性 - * Improvement in processes and systems to deliver improved plant performance and yields 生产工艺流程和运营系统的改良提高了工厂的生产效率和产品收得率 RTIT capital spend (100% basis) 投资项目支出 Indexed, 2012 = 100 Capacity available to ramp up production as price and volume improvements emerge 一旦价格及需求转好, 现有产能可以迅速释放 Focussed capital programme with options to grow to market requirements 注重投资项目质量, 并能够根据市场情况作出调整 *forecast data. Development spend includes Zulti South

Maintaining options to participate in market demand growth 预留多种储备资源开发方案为今后市场需求的增长做准备 Developing options for both smelter feedstock and direct ilmenite and zircon sales

11 Maintaining options to participate in market demand growth 预留多种储备资源开发方案为今后市场需求的增长做准备 Developing options for both smelter feedstock and direct ilmenite and zircon sales 资源开发方案能够兼顾工厂冶炼需求或者直接进入钛铁矿和锆英砂市场销售 Targeting projects with flexibility to supply into sulphate and chloride markets; with co-product optionality 专注于能够灵活供应酸溶渣和氯化渣市场的项目, 同时考虑共生产品的机遇 11 Reconnaissance in Madagascar A number of programmes underway 一系列的项目正在进行中 Maximise orebody knowledge at existing deposits Havre St Pierre and Zulti South 最大程度掌握哈佛 - 圣皮埃尔和 Zulti 南地区矿体的地质情况 Brownfield development options in Madagascar 评估马达加斯加矿物的扩产计划 Evaluation studies ongoing in Mozambique 继续莫桑比克项目的评估 Reconnaissance work in coastal regions of Africa 对于非洲沿海地区的勘察

Zulti South: world class TiO2 resource with valuable co-products Zulti 南新矿区 : 世界级的二氧化钛资源, 并伴生有极具价值的共生产品

南新矿区项目的可行性研究仍在进行 Maximises the use of installed smelting capacity 能够最大化的利用现有的钛渣熔炼产能 Enables RBM to

Established product suite and known technologies 完备的产品套系和成熟的开发技术 Due to market conditions, an

12 Zulti South: world class TiO2 resource with valuable co-products Zulti 南新矿区 : 世界级的二氧化钛资源, 并伴生有极具价值的共生产品 12 Work continues on the feasibility study for the Zulti South development at RBM 位于理查兹湾 Zulti 南新矿区项目的可行性研究仍在进行 Maximises the use of installed smelting capacity 能够最大化的利用现有的钛渣熔炼产能 Enables RBM to sustain current low-cost production rates for the next two decades 确保理查兹湾矿物在未来的二十年内能够维持当前具有成本优势的生产规模 Established product suite and known technologies 完备的产品套系和成熟的开发技术 Due to market conditions, an investment decision is now expected 2016 subject to receipt of appropriate approvals 取决于目前的市场情况, 以及能否得到相应的批准, 投资决策将会在 2016 年做出

Reliable supply from a portfolio of industry leading assets 立足行业领先的资产提供可靠的供应保障 Richards Bay Minerals, South Africa 理查兹湾矿物, 南非 Consumption-driven demand growth in the medium term is driven by strong

13 Reliable supply from a portfolio of industry leading assets 立足行业领先的资产提供可靠的供应保障 Richards Bay Minerals, South Africa 理查兹湾矿物, 南非 Consumption-driven demand growth in the medium term is driven by strong macro-economic fundamentals 强劲的宏观经济确保了中期由消费驱动的需求增长 Portfolio of strong assets positioned to supply into this demand growth 强健的资产组合能够为需求的增长提供优质的产品 Well positioned for any market recovery 一旦市场复苏, 能够立即供应增长的需求 Driving operating discipline to reduce costs and increase productivity 通过全方位的经营管理来降低成本并提高生产效率 Proprietary smelting technology and market insight provides a competitive advantage 我们的竞争优势来自与自主知识产权的冶炼技术和对市场的洞察能力 Maximising the value of our assets through coproduct streams 通过共生品的生产和销售来实现资产价值最大化 13

Investing in long-term supply

1 Investing in long-term supply 投资于长期供应 8 th Annual TZMI Congress, Shanghai, 10-14 November 2014 第八届 TZMI 年度会议, 上海,2014 年 11 月 10-14 日 Mark Davies 马克. 戴维斯 Interim Chief Executive Officer, Rio Tinto Iron