Resumen de Supply Situation Report: Not so boron
Neither company will reveal how much it produces, but Rio Tinto said in its Q3 2012 results that "Borates production was 12% lower than the third quarter of 2011, in response to current market conditions". However, this also included the companys' Argentinian assets, the sale of which was completed in August this year. Argentina has historically contributed around 4% of Rio Tinto borate production, the company said. In 2011 Rio Tinto produced 504,000 tonnes borates. 4% of this figure leaves roughly 483,840 tonnes of borates out of the US.
Of the 2011 figure, 630,000 tonnes were mined in Argentina (up 30,000 tonnes from 2010); 120,000 tonnes in Bolivia (up 23,000 tonnes); 480,000 tonnes in Chile (down 24,000 tonnes) and 370,000 tonnes in Peru (up 77,000 tonnes) (see pie chart).
"Rio Tinto Minerals reviews each of its operations regularly to ensure a good fit with business strategy," Le Page explained. "A decision was made to divest Borax Argentina because RTM focuses on large-scale, long-life mines with expandable operations like our Boron operation," he added.
